TL NATURAL GAS (08536) plans to invest 4.6 million yuan to set up a joint venture, focusing on the Hainan Free Trade Port, leveraging unmanned vehicles and intelligent logistics business.

TL NATURAL GAS (08536) announced that on August 21, 2026, its wholly-owned subsidiary JieKai and its joint venture partners entered into a joint venture agreement to establish a joint venture company. According to the terms of the joint venture agreement, the registered capital of the joint venture will be 10 million yuan. JieKai, Yao Xing Hao Yun, and Xinghui Jiu Shi will contribute 4.6 million yuan, 3.5 million yuan, and 1.9 million yuan to the joint venture, respectively accounting for 46%, 35%, and 19% of the registered capital of the joint venture. The proposed name for the joint venture is Jiu Yao Technology (Hainan) Co., Ltd. The joint venture will be a smart logistics platform company based in the Hainan Free Trade Port. Its core business includes urban delivery by Level 4 autonomous vehicles, logistics for ports and industrial parks, operations of new energy commercial vehicle fleets, cross-border transportation leasing, smart scheduling SaaS services, as well as building and operating an integrated energy network based on CECEP Solar Energy for power generation, energy storage, charging, battery swapping, hydrogen refueling, and parking. Leveraging the free trade port policy and the advantages of autonomous vehicle road rights, the joint venture aims to create replicable and exportable end-to-end autonomous transport solutions. To fully leverage the respective advantages and resources of the joint venture partners and achieve mutually beneficial development, the group and its joint venture partners have reached an agreement to establish the joint venture. The joint venture will be dedicated to commercializing the brand's autonomous urban delivery equipment and building its ecosystem; initial operations will be based in Hainan Province, covering but not limited to Chengmai County, Sanya City, Qionghai City, Boao Town, Haikou City, Dongfang City, and Danzhou City, and will carry out business according to the business plan agreed upon by the contracting parties as stipulated in the joint venture agreement.