Xinyi Glass and Xinyi Solar renew key inter-company agreements for 2026

Xinyi Glass Holdings and Xinyi Solar Holdings have renewed their 2026 production equipment purchase agreement, effective January 1, 2026, for a one-year term. This agreement, entered into on December 24, 2025, involves Xinyi Solar (Hong Kong) as the purchaser and Anhui Xinyi Machinery (a non-wholly owned subsidiary of Xinyi Glass) as the vendor. The annual cap for this transaction is RMB107.3 million, a decrease from the 2025 cap of RMB168.8 million due to a slowdown in Xinyi Solar's capacity expansion plans for solar glass. Payments will be made in four installments, with a 12-month warranty provided by Anhui Xinyi Machinery.

Additionally, the electricity framework agreement, signed on December 24, 2025, facilitates the supply of electricity from Xinyi Solar's distributed rooftop solar power generation systems to Xinyi Glass members, commencing January 1, 2026, for one year. The expected annual electricity sales are 73.05 million kWh, with an annual cap of RMB35.4 million. This arrangement allows Xinyi Solar to increase the utilization of its solar power systems and Xinyi Glass to reduce outsourced energy costs by purchasing electricity at a discount from the state grid price.

Both agreements constitute continuing connected transactions due to Xinyi Glass's substantial shareholding in Xinyi Solar and the common controlling shareholders. The transactions are subject to reporting and announcement requirements but are exempt from circulars and independent shareholders' approval under Chapter 14A of the Listing Rules, as the highest applicable percentage ratio for each is between 0.1% and 5%.