BINHAI INV (02886) subsidiary Qiyuan Smart Control Investment is constructing a distributed photovoltaic power generation project.

BINHAI INV(02886) announced that its non-wholly-owned subsidiary, Qiyuan Zhikong, has entered into agreements with the collective economic organization of Baibiao Village, Xinshi Town, Deqing County, and Deqing Xinhui Construction Development Co., Ltd. (collectively referred to as the "Contracting Parties") for the investment and construction of a distributed photovoltaic power generation project (the "Photovoltaic Project"), with a total capacity expected to be 3.51 million watts (subject to actual installation). Qiyuan Zhikong will utilize the rooftops of the Contracting Parties to invest in, construct, and operate the Photovoltaic Project, which includes all compliance procedures such as project filing, grid access approval, construction permits, and the procurement of equipment, as well as engineering construction and subsequent operation and maintenance management. The lease term will be fifteen years from the date the Photovoltaic Project is connected to the grid and begins generating electricity. All electricity revenue, state subsidies, and green certificate earnings generated by the Photovoltaic Project will be owned by Qiyuan Zhikong. The company believes that the Photovoltaic Project, as the group's first externally invested distributed power generation project, marks a significant breakthrough in the groups diversification strategy in the field of integrated energy services, and is a key step towards transforming into a comprehensive energy supplier. Qiyuan Zhikong, responsible for the construction and operation of the project, serves as the cooperation platform between the group and the Deqing County government, integrating local resources and policy advantages of Deqing County. While the Photovoltaic Project will bring long-term stable revenue to the group, it will also accumulate replicable practical experience in distributed photovoltaic operations, laying a solid foundation for the groups future scaled expansion into the integrated energy service market and continuously creating long-term sustainable value for the company's shareholders.