BRETON (01333.HK) signs strategic intent with Jinchengjian on DRC green energy and smart mining

NewTimeSpace News: On 28 October, Breton Technology Co., Ltd. (01333.HK) announced that the board entered into a letter of intent with Jinchengjian Co., Ltd. on the same day, under which the two parties intend to establish a long-term cooperation relationship in the green energy and intelligent mining industry synergy in the Democratic Republic of the Congo (the DRC).

The principal terms include: for energy projects, over the next three years the parties intend, depending on specific circumstances, to advance the implementation of energy supporting projects for smelters in phases, with an indicative total construction scale target of 275MW of photovoltaic capacity and 400MWh of energy storage, to be set out in separate project contracts to be signed later; for mining equipment, the parties intend to cooperate, as and when appropriate, on the deployment or procurement of a certain number of electric mining trucks; and for the autonomous driving demonstration project, the parties intend to jointly build a benchmark smart zero-carbon mine project in the DRC, deploying a certain number of unmanned electric mining trucks as a demonstration fleet to create an integrated sample of "green power plus electrification plus autonomous driving".

The letter of intent is valid for five years, ending on 28 October 2031; upon expiry, the parties will give priority to cooperating with each other and signing formal agreements on equivalent terms, and the confidentiality obligations will not lapse by reason of the expiry, termination or rescission. Jinchengjian was established in Hong Kong, China in 2013 and takes the DRC as its strategic core; the company confirmed that Jinchengjian and its ultimate beneficial owners are independent third parties. The board considers that entering into the letter of intent is in line with the company's strategic development direction and, if implemented, is expected to help expand its energy supporting, hydro-solar complementary, mining equipment electrification and smart zero-carbon mine businesses in the DRC and other parts of Africa. The letter of intent is a framework and indicative arrangement, and no formal or legally binding agreement has been signed for any specific project; if the cooperation is implemented, it may constitute a discloseable transaction under the Listing Rules.