SUNSHINE OIL (02012.HK): Unit Signs 33-Year Energy Pact with Anshan Dong Sifangtai Government; First New Energy Pilot Under Way

NewTimeSpace News: On 20 October 2026, Sunshine Oilsands Ltd. (the "Company") voluntarily announced that Shenzhen Zhongwang Energy Technology Co., Ltd. ("Shenzhen Zhongwang Energy"), a subsidiary of the Company, entered into an energy cooperation agreement with the People's Government of Dong Sifangtai, Anshan, Liaoning on 20 October 2026 for a term of 33 years, under which Shenzhen Zhongwang Energy will fund the conversion of the government office building's existing coal-fired boilers into ground-source heat pump clean energy heating, with the government paying energy usage fees.

The announcement disclosed that the project is Shenzhen Zhongwang Energy's first new energy pilot in Liaoning, has commenced construction and is expected to be completed and put into operation by 20 December 2026. To the best of the board's knowledge after all reasonable enquiries, the People's Government of Dong Sifangtai, Anshan is an independent third party of the Company and its connected persons and is not connected with them.

The Company stated that, once completed, the project will serve as a demonstration for local energy saving and emissions reduction and lay a solid foundation for more new projects of Shenzhen Zhongwang Energy next year, moving Sunshine Oilsands from its traditional single oil sands business into a new track of new energy development.