SDHS NEW ENERGY (01250.HK): Heze Shanshan Clean Energy Enters RMB 1.234 Billion EPC Contract for 212.5MW Wind Power Project, Constituting a Major Transaction

NewTimeSpace News: On 24 August 2026, Shandong Hi-Speed New Energy Group Limited (01250.HK) issued a circular disclosing that Heze Shanshan Clean Energy Co., Ltd., its directly wholly-owned subsidiary (as employer), entered into an EPC turnkey contract with China Energy Engineering Group Anhui Electric Power Construction No. 2 Engineering Co., Ltd. (CEEC Anhui Electric Power Construction, as contractor) on 10 August 2026 (after trading hours). Under the contract, Heze Shanshan Clean Energy engaged CEEC Anhui Electric Power Construction to provide EPC services for a 212.5MW centralised wind power project located in the southwest of Mudan District, Heze City, Shandong Province, at a total contract price of RMB 1,233,777,047.26 (inclusive of all taxes, adjustable upon changes in national tax policies), representing a fixed unit price of RMB 5.806 per watt based on the approved installed capacity.

The total contract price comprises construction and installation works of RMB 300,758,942.17, equipment procurement of RMB 526,992,895.50, survey and design of RMB 4,462,500.00, measure project costs of RMB 14,822,005.00, other costs of RMB 71,489,134.67, provisional estimates (preliminary site works and comprehensive coordination fees) of RMB 306,751,569.92 and provisional sums of RMB 8,500,000.00 (all tax-inclusive). The construction period does not exceed 518 calendar days. The contractor shall provide a demand-guarantee bank performance bond of 10% of the total contract amount within 28 days of the contract becoming effective, and provide a prepayment guarantee equal to the prepayment 7 days before the employer pays the prepayment. The consideration was determined through a tender selection process, with CEEC Anhui Electric Power Construction scoring the highest among twelve candidate contractors.

As the applicable percentage ratio exceeded 25% but was below 100%, the transaction constitutes a major transaction under Chapter 14 of the Listing Rules, subject to reporting, announcement, circular and shareholders' approval requirements. Shandong Hi-Speed Group (holding 1,279,878,252 shares of the company directly, representing approximately 56.97% of the total issued share capital) approved the transaction by written shareholder approval under Rule 14.44 of the Listing Rules on 10 August 2026, and the company will not hold a general meeting. The consideration will be funded by the group's internal resources and bank borrowings, and upon completion of construction the project will be owned and operated by Heze Shanshan Clean Energy. The group is principally engaged in the investment, development, construction, operation and management of photovoltaic power, wind power and clean heating businesses in China.

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