Sichuan Chuantou Energy enhances oversight of raised funds with new agreements

Sichuan Chuantou Energy Co., Ltd. announced the signing of new tripartite and quadripartite supervision agreements for its special accounts holding raised funds. This follows shareholder approval on November 5, 2025, to reallocate RMB 600 million of raised funds from the original Yangfanggou Hydropower Station project to the new Hubei Yuanan Pumped Storage Power Station project. The company originally raised RMB 4 billion in convertible bonds, with net proceeds of RMB 3,994,065,400.00, verified on November 15, 2019.

As of November 27, 2025, the Yangfanggou Hydropower Station project had utilized RMB 2.429 billion, and the Lianghekou Hydropower Station project had utilized RMB 512 million. The remaining balance of the raised funds was RMB 1.404 billion. To adhere to regulatory requirements and protect investor interests, the company signed a tripartite supervision agreement with CITIC Bank Chengdu Branch and Beijing Securities Co., Ltd., and a quadripartite agreement with its subsidiary Hubei Yuanan Pumped Storage Co., Ltd., Bank of China Yichang Branch, and Beijing Securities Co., Ltd.

Two new special accounts have been opened for the Hubei Yuanan Pumped Storage Power Station project, both with a balance of RMB 0 as of November 5, 2025. These accounts will be exclusively used for the storage and use of funds for the Hubei Yuanan Pumped Storage Power Station project.