XINTE ENERGY (01799) subsidiary Xinjiang New Energy plans to acquire the remaining 39.05% equity of Fengsheng Power Generation for RMB 500 million.

XINTE ENERGY (01799) announces that, pursuant to the capital increase agreement, ICBC Financial agreed to increase the capital of Fengsheng Power Generation by RMB 500 million, of which RMB 469,651,993 will be credited to the registered capital of Fengsheng Power Generation, and the remaining RMB 30,348,007 will be credited to capital reserve. Upon completion of the capital increase, ICBC Financial will hold 39.05% equity interest in Fengsheng Power Generation, while Xinjiang New Energy will hold 60.95% equity interest in Fengsheng Power Generation, and Fengsheng Power Generation will remain a non-wholly-owned subsidiary of the Company. On October 20, 2026, Xinjiang New Energy, ICBC Financial and Fengsheng Power Generation entered into an equity transfer contract, pursuant to which ICBC Financial agreed to transfer its 39.05% equity interest in Fengsheng Power Generation (corresponding to RMB 469,651,993 of the registered capital of Fengsheng Power Generation, i.e. the target equity) to Xinjiang New Energy at a transfer price of RMB 500 million, and Xinjiang New Energy agreed to acquire the target equity. Upon completion of the equity transfer, Xinjiang New Energy will hold 100% equity interest in Fengsheng Power Generation, and Fengsheng Power Generation will remain a non-wholly-owned subsidiary of the Company. It is understood that, as at the date of this announcement, Xinjiang New Energy is held as to 91.26%, 8.28% and 0.46% by the Company, ABC Financial Asset Investment Co., Ltd. (an independent third party of the Company) and CECEP Solar Energy Technology Co., Ltd. respectively, and is a non-wholly-owned subsidiary of the Company. The principal business of Fengsheng Power Generation is the development and operation of wind energy resources. The announcement states that, in order to implement the Group's overall strategic layout of revitalizing existing assets and improving quality and efficiency, consolidate management authority, and enhance asset management and control effectiveness, the acquisition of the target equity by Xinjiang New Energy is conducive to optimizing the equity structure of Fengsheng Power Generation, improving operational decision-making efficiency, tapping the operational potential of the project, further enhancing the operating returns of the Group's existing assets, and strengthening the asset value creation capability.