Gepic Energy extends commitment to avoid competition until 2028

Gepic Energy Development announced an extension of its controlling shareholder's, Gepic Power Investment Group, commitment to avoid horizontal competition until December 27, 2028. This extension, originally set to expire on December 27, 2025, is necessary because remaining thermal power assets held by Gepic Power are currently unprofitable or lack sustained profitability, making their immediate integration unfavorable for Gepic Energy and its shareholders. The company has already placed these assets under its trusteeship, with an annual fee of 1.2 million yuan per asset.

This decision, approved by the board and independent directors, aligns with Gepic Energy’s strategic goals and regulatory guidance for managing related-party transactions and resolving competition. The board also approved the re-appointment of DaXin Certified Public Accountants (Special General Partnership) for the 2025 financial audit and internal control audit, with fees of 770,000 yuan and 400,000 yuan respectively, reflecting an increase from the previous year. Both matters await shareholder approval.