BINHAI INV (02886) has made substantial breakthroughs in the comprehensive energy transition through the investment and construction of the Deqing distributed photovoltaic project.

On August 10, BINHAI INV (02886) issued a voluntary announcement stating that its non-wholly-owned subsidiary, Deqing Qiyuan Smart Control Energy Service Co., Ltd. (referred to as: Qiyuan Smart Control), will be investing in and constructing a distributed photovoltaic power generation project in Deqing, Zhejiang. Qiyuan Smart Control entered into agreements with the collective economic organization of Baibiao Village in Xinshi Town, Deqing County, and Deqing Xinhui Construction Development Co., Ltd. (collectively referred to as the "Contracting Parties"), whereby Qiyuan Smart Control will invest in and construct the distributed photovoltaic power generation project ("Photovoltaic Project"), which is expected to have a total construction capacity of 3.51 million watts (the final scale will be based on actual installation). Qiyuan Smart Control will utilize the rooftops of the Contracting Parties to invest in, construct, and operate the Photovoltaic Project. It will be fully responsible for compliance procedures such as project registration, grid connection approval, and construction permits, as well as equipment procurement, engineering construction, and subsequent operation and maintenance management. The lease term will be fifteen years from the date the Photovoltaic Project begins generating electricity. All electricity generation income, national subsidies, and green certificate revenues generated by the Photovoltaic Project will be owned by Qiyuan Smart Control. BINHAI INV believes that the Photovoltaic Project, being the group's first externally funded distributed power generation project, marks a substantial breakthrough in the group's diversification of projects in the integrated energy service sector and is a key step in accelerating its transformation into an integrated energy supplier. Qiyuan Smart Control, the entity responsible for the construction and operation of the Photovoltaic Project, serves as the landing platform for the strategic cooperation between the group and the Deqing County government, integrating local resources and policy synergies from Deqing County. While bringing long-term stable returns to the group, the Photovoltaic Project will also accumulate replicable experience in distributed photovoltaic operations, laying a solid foundation for the group's subsequent large-scale expansion in the integrated energy service market, continually creating long-term sustainable value for the companys shareholders.