HXTL (01085) signed construction engineering contracting and other contracts related to the Qinghai project with a subsidiary of the Xinjiang Group.

HXTL (01085) announces that on June 12, 2026, Qinghai Zhongkong (an indirectly non-wholly-owned subsidiary of the Company) entered into the following contracts with the following companies under the Xinjiang Group, with a total contract price of RMB 4.726 billion (including taxes): (I) a construction engineering contract with Xinjiang Green Energy (as the contractor) for the construction project to be carried out on the site; (II) an equipment supply contract with Green Source Xin Energy (as the supplier) for the equipment needed for the construction and operation of the Qinghai project; and (III) an equipment installation engineering contract with Xinjiang Green Energy (as the contractor) for the installation and commissioning of equipment on the site. The Qinghai project is a 350 MW molten salt tower concentrated solar power project, using a layout of three towers and one machine based on tower molten salt concentrated solar power technology, with 3.15 million square meters of mirrors and one 350 MW steam turbine generating unit. The project commenced in December 2025 and is expected to be connected to the grid in December 2027. The Qinghai project has been successfully selected as a demonstration (pilot) project for concentrated solar power in Qinghai Province in 2024. It is important to note that the Qinghai project is currently the largest tower concentrated solar power project in terms of installed capacity among completed, planned, and under-construction projects worldwide. The Board of Directors believes that the Qinghai project will generate stable long-term income, enhance the Group's market reputation and competitiveness in the field of concentrated solar power. The Qinghai project is the first project in a series of planned molten salt tower concentrated solar power projects to be developed, constructed, and operated by the Group in a phased manner. The Qinghai project is an important project under the new energy and services business. The transactions to be conducted under these contracts are essential for the construction of the Qinghai project. The appointment of the Xinjiang Group companies was made after a bidding process and comparison with independent third parties.