Kaishan Group (300257.SZ) subsidiary KSOH obtains exclusive geothermal exploration rights in Hungary.

Kaishan Group (300257.SZ) announced that in May 2023, its subsidiary company KS ORKA Hungary Kft (referred to as "KSOH") participated in the geothermal exploration area activities organized by the Hungarian Energy and Mining Authority. Recently, the Authority sent a letter to KSOH, notifying them that they have been granted a geothermal exploration license with registration number SZTFH-BANYASZ/692-6/2025. This license exclusively grants KSOH the right to conduct geothermal exploration in an area of 171 square kilometers, with depths ranging from 250 meters to 3500 meters. The Turawell geothermal power plant, which was completed and put into operation by the company in 2017, is located in this exploration area. Under the coordination and support of the Kaishan Group headquarters, KSOH will organize a team to begin determining drilling targets, designing drilling engineering plans, and is expected to purchase land and conduct exploration/production well drilling within the year. Following this, they plan to construct a geothermal power plant with a capacity of 50-100 megawatts in the Tura region.