HYBRID KINETIC (01188.HK): enters into MOU with Hengwan New Energy on 5 GWh energy storage and power battery project

NewTimeSpace News: On 20 August 2026, Hybrid Kinetic Group Limited (stock code: 01188) announced in a voluntary announcement that it entered into a memorandum of understanding with Hengwan New Energy (Qianshan) Co., Ltd. on 20 August 2026, intending to explore cooperation in multiple areas, including advancing Hengwan's 5 GWh per annum energy storage and power battery industrial project (covering construction, equipment procurement and infrastructure construction, with cooperation in battery manufacturing operations, quality control, supply chain procurement and capital management), jointly developing energy storage cells and power lithium-ion batteries and system solutions, and exploring cross-business promotion and sharing of industry intelligence.

According to the announcement, all the above cooperation areas remain indicative in nature and are subject to further due diligence, negotiation and the execution of legally binding definitive agreements; Hengwan New Energy and its ultimate beneficial owners are third parties independent of the Company and its connected persons. The announcement also notes that the Company's shares have been suspended on the Stock Exchange since 1 April 2025 and will remain suspended pending fulfillment of the resumption guidance issued by the Exchange.

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