Xinyi Energy to acquire wind farm from group entities for 62m yuan

On December 23, 2025, Xinyi Energy (Fanchang) conditionally agreed to acquire the entire equity interest in Jinzhai Wind Power for 62.0 million yuan. The vendors are Xinyi Glass (Wuhu), selling 82.0% for 50.8 million yuan, and Xinyi Electric Storage Anhui Power, selling 18.0% for 11.2 million yuan. The total consideration is payable in two installments, with 55.8 million yuan due upon completion and the remaining 6.2 million yuan as a warranty payment. Completion is expected on December 31, 2025, subject to various conditions.

Jinzhai Wind Power operates a 64 MW wind farm in Jinzhai City, Anhui Province, and has been a non-wholly owned subsidiary of Xinyi Glass for over a decade. The transaction aims to streamline operations by divesting non-core assets from Xinyi Glass and Xinyi Electric Storage, while diversifying Xinyi Energy’s renewable energy portfolio. The acquisition is expected to result in a gain of 33.6 million yuan for Xinyi Glass and 8.8 million yuan for Xinyi Electric Storage, with proceeds used as general working capital.

For Xinyi Glass, Xinyi Energy, and Xinyi Solar, the transaction constitutes a connected transaction under Chapter 14A of the Listing Rules, and for Xinyi Electric Storage, it falls under Chapter 20 of the GEM Listing Rules. Given that the highest applicable percentage ratio is more than 0.1% but less than 5%, the transactions are subject to reporting and announcement requirements but are exempt from circulars and independent shareholder approvals.