SDHS NEW ENERGY (01250.HK): Subsidiary Heze Shandong High-Clean Energy enters into EPC contract with CEEC Anhui Electric Power, with total contract price of approximately RMB 1.234 billion
NewTimeSpace News: On 10 August 2026, Shandong Hi-Speed New Energy Group Limited (stock code: 01250) and Shandong Hi-Speed Holdings Group Limited (stock code: 00412) published a joint announcement, announcing that after trading hours on that day, Heze Shandong High-Clean Energy (a directly wholly-owned subsidiary of Shandong Hi-Speed New Energy and an indirectly non-wholly-owned subsidiary of Shandong Hi-Speed Holdings, as the employer) entered into an EPC contract with CEEC Anhui Electric Power (as the contractor), pursuant to which Heze Shandong High-Clean Energy agreed to engage CEEC Anhui Electric Power to provide EPC services for a 212.5MW centralised wind power project located in the southwest of Mudan District, Heze City, Shandong Province, with a total contract price of RMB 1,233,777,047.26 (including all taxes, subject to adjustment upon changes in national tax policies). The construction period does not exceed 518 calendar days, and based on the total contract price and the approved installed capacity, the fixed unit price is RMB 5.806 per watt, settled at the approved installed capacity if the actual installed capacity is higher, or at the actual installed capacity if lower.
The contract consideration was determined through a tendering and screening process, with the contractor scoring the highest among twelve candidate contractors after two rounds of evaluation; the consideration comprises construction and installation works fees, equipment procurement fees, survey and design fees, measures project fees, other fees, provisional sums (preliminary site works and comprehensive coordination fees) and provisional amounts. The announcement disclosed that, as one or more applicable percentage ratios (as defined in Rule 14.07 of the Listing Rules) in respect of the transactions contemplated under the EPC contract exceed 25% but are below 100% for each of Shandong Hi-Speed New Energy and Shandong Hi-Speed Holdings, the transactions respectively constitute major transactions under Chapter 14 of the Listing Rules, subject to the reporting, announcement, circular and shareholders' approval requirements.
In respect of shareholders' approval, Shandong Hi-Speed Holdings (which directly holds 1,279,878,252 shares of Shandong Hi-Speed New Energy, representing approximately 56.97% of its total issued share capital) has approved the transactions contemplated under the EPC contract by way of written shareholders' approval pursuant to Rule 14.44 of the Listing Rules in lieu of resolutions to be passed at the general meeting of Shandong Hi-Speed New Energy, and accordingly Shandong Hi-Speed New Energy will not hold a general meeting to approve the transactions; Shandong Hi-Speed Holdings will convene an extraordinary general meeting to consider and, where appropriate, approve the transactions. A circular containing, among other things, details of the EPC contract and the transactions contemplated thereunder and other information required under the Listing Rules is expected to be published and/or despatched to shareholders on or before 31 August 2026.
NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.
