Nangudu Power: Termination of Transfer of Equity in wholly-owned subsidiary

Southern Power announced that the company held a board meeting on March 24, 2026 and decided to terminate the transfer of 100% equity of its wholly-owned subsidiary Anhui Huabo Renewable Resources Technology Co., Ltd. (Huabo Renewable Resources). Previously, the company had planned to transfer the 100% equity of Huabo Renewable Resources to Anhui Houjilian Energy Operations Management Partnership Enterprise for a price of 1.415 billion yuan. Due to changes in market conditions and fundraising, all parties have decided to terminate the transaction, and the 15 million yuan equity transfer payment that has been made will be refunded. The termination will not have a significant negative impact on the company's current production and operation activities or financial condition.