Jin Kai Xin Neng sells stake in Urumqi Ruihe, adjusts Jin Kai Zhi Wei divestment

Jin Kai Xin Neng will introduce strategic investors to Urumqi Ruihe Guangsheng Electric Power Technology Co., Ltd. by publicly listing a 51% equity stake in the subsidiary. The proposed transfer is valued at no less than yuan 155.85m and is expected to generate an investment income of approximately yuan 131m. Following the transfer, Jin Kai Xin Neng's stake in Urumqi Ruihe Guangsheng will be 49%, and it will no longer be consolidated. This transaction aims to enhance market competitiveness and optimize capital structure.

The company's board of directors approved the adjustment to the divestment plan for Jin Kai Zhi Wei (Ningxia) Technology Co., Ltd. The original plan to simultaneously transfer equity and increase capital will be split into sequential steps. The equity transfer portion of Jin Kai Zhi Wei was re-listed on November 7, 2025. After the equity transfer, Jin Kai Zhi Wei will no longer be a controlled subsidiary, and its subsequent capital increase will be determined by its shareholders.

These decisions were made during the company's eleventh board of directors' fourteenth meeting, held on November 27, 2025. The transactions are pending completion of public listing procedures at the Tianjin Property Rights Exchange Center.