Sichuan Energy Investment Development Co., Ltd. announced on 5 July 2024 (after trading hours), the company and Xingwen Industrial Investment entered into the Equity Investment Cooperation Agreement and the Shareholder Contribution Agreement in respect of the formation of the Joint Venture in the PRC. Pursuant to the said agreements, the total registered capital of the Joint Venture shall be RMB 120,000,000, of which 70% (equivalent to RMB 84,000,000) shall be contributed by the company and 30% (equivalent to RMB 36,000,000) shall be contributed by Xingwen Industrial Investment. Upon the establishment of the Joint Venture, it will be held as to 70% by the company and will be accounted for as a subsidiary of the Group with its financial results to be consolidated into the Group's consolidated financial statements.

Scope of business of the Joint Venture: The Joint Venture is established to engage in the investment, construction and operation of distributed energy projects, supply of steam and electricity energy, contract energy management, comprehensive energy services, new energy business and other value-added businesses, etc. (to be based on the standardized specification of business scope approved by the Xingwen Market Supervision Bureau).