SANVO CHEMICALS (00301.HK): Signs MOU with Green Circle and Menzies Eurus on Airport Energy-Saving Solutions

NewTimeSpace News: On 20 October 2026, Sanvo Fine Chemicals Group Limited (the "Company") voluntarily announced that on the same day it entered into a non-binding memorandum of understanding (the "MOU") on strategic cooperation with Green Circle Decarbonize Technology Limited ("Green Circle") and Menzies Eurus Aviation Services Limited ("Menzies Eurus") (together, the "Parties") in respect of aviation facility energy-saving solutions. The Parties aim to explore, develop and implement advanced airport energy-saving solutions covering aviation facilities and infrastructure. The announcement stated that Green Circle, Menzies Eurus and their affiliates are independent of and not connected with the Company, its directors, chief executives and substantial shareholders, or their respective associates.

The announcement disclosed that Green Circle is a company incorporated in the Cayman Islands and listed on the New York Stock Exchange (NYSE ticker: GCDT), and is a provider of advanced energy-saving solutions supported by its proprietary phase-change thermal storage materials and thermal engineering services; on 4 September 2026 the Company entered into a strategic partnership agreement with Green Circle, under which the Group has been appointed the sole supplier and exclusive manufacturer for large-scale production in the PRC of Green Circle's BocaPCM-TES Panels. Menzies Eurus is a limited company incorporated in Hong Kong and a joint venture held as to 49% by Menzies Aviation Eurus Express and 51% by Eurus Express Limited; Eurus Express is an integrated logistics solutions provider headquartered in the Greater Bay Area (Hong Kong, Shenzhen) and the Hainan Free Trade Port (Haikou), with operations spanning 58 locations in 17 countries, while Menzies Eurus itself focuses on ground handling, air cargo, fuelling, business aviation and offline services.

The Company stated that it and Green Circle will integrate the Company's professional chemical technology and high-efficiency formulations with Green Circle's energy management systems to optimise the heating, ventilation and air-conditioning systems of airport facilities, while Menzies Eurus will be responsible for testing, validating and implementing the energy-saving solutions at airport facilities using its ground handling operations and network. As at the announcement date, no definitive agreement had been entered into in respect of the strategic subscription or the partnership agreement. The board considers that, as the Group has been reviewing various opportunities to further diversify its business, leveraging its core chemical formulation capability in new application scenarios and the sustainable energy sector is viable, and the cooperation will help the Group broaden its business horizons, open up aviation infrastructure networks and enhance its market position in decarbonisation and energy-efficiency solutions. Save for termination, notice, governing law, expenses and confidentiality provisions, the MOU is not legally binding and does not create any legal obligations; the Company will make a further announcement in accordance with the Listing Rules if a legally binding formal agreement is agreed and/or signed.