TESSON HOLDINGS (01201) intends to acquire 100% equity of Times Huazhi (Hong Kong) New Energy Technology Co., Ltd. for RMB 120 million.

TESSON HOLDINGS (01201) announces that on September 27, 2026, the company's direct wholly-owned subsidiary, Contemporary International Battery Technology Limited, intends to acquire 100% equity of Times Huazhi (Hong Kong) New Energy Technology Co., Ltd. from CCPOM Limited for a consideration of RMB 98.4 million, of which RMB 38.4 million will be paid in cash and RMB 60 million will be paid by issuing consideration shares at HK$2.00 per consideration share. In addition, the buyer intends to increase capital by RMB 21.6 million to the Hong Kong target company. On the same day, Zhongneng Technology (an indirect wholly-owned subsidiary of the company) (as lender) entered into a loan agreement with the China target company (Fujian Times Huazhi New Energy Technology Co., Ltd.) and the relevant China borrower (as borrower), pursuant to which Zhongneng Technology has agreed to provide an interest-free loan with a principal amount of RMB 10 million to the China target company or the relevant China borrower. The target group is principally engaged in the research and development of new energy technologies, the operation of electric vehicle charging stations, the sale and leasing of related products, and the provision of related services. Through its operating subsidiaries in China, the target group has established expertise and experience in the deployment and management of charging facilities and has developed charging-related software and technical solutions. Specifically, the target group operates multiple charging stations already in operation in Shanghai and Fuzhou. In addition, the target group has established business relationships with multiple charging service platforms and participants in the electric vehicle charging ecosystem in China. The directors consider that these transactions represent a strategic extension of the group's existing business portfolio and will enable the group to capture the development opportunities arising from the electric vehicle charging industry in Shanghai and Fuzhou. The directors consider that the target group's business is highly complementary to the group's existing charging station business and will consolidate the group's position in the Shanxi Guoxin Energy Corporation infrastructure sector. These transactions will enable the group to leverage the target group's operational experience, technical capabilities, and industry relationships, combined with the group's existing lithium-ion power battery products, charging equipment, and related technologies. In addition, the seller will nominate its nominee, Mr. Huang Yucheng, to join the board of directors upon completion. He possesses relevant expertise and experience in the electric vehicle industry and is expected to contribute valuable industry insights and strategic guidance to support the group's future development and operations. The directors believe that these transactions will generate operational and commercial synergies, enhance the group's competitiveness in the new energy sector, and improve its long-term growth prospects.