China Resources Power renews financial aid for new energy, pharma projects

China Resources Power Holdings Company Limited (CR Power) has announced the renewal of a financial assistance agreement through its subsidiary, New Energy Holdings. The 2026 Framework Agreement extends financial assistance to New Energy (Liangshan) Group from January 1, 2026, to December 31, 2028.

The annual caps for the financial assistance provided under the 2026 Framework Agreement are RMB1.85 bn for 2026, RMB2.25 bn for 2027, and RMB2.55 bn for 2028. This assistance is primarily for payment of tender deposits, performance bonds, and working capital to support the development of new energy and pharmaceutical projects by New Energy (Liangshan) Group.

New Energy (Liangshan) is a connected person of CR Power, held indirectly with 51% equity interest by New Energy Holdings and 49% by CR Sanjiu. The transactions are classified as continuing connected transactions subject to reporting, annual review, and announcement requirements under HKEX Listing Rules, but are exempt from circular, independent financial advice, and shareholder approval requirements as the highest applicable percentage ratio is between 0.1% and 5%.