HXTL (01085) Subsidiary Signs Land Compensation Agreement for Delingha 350MW Solar Thermal Power Demonstration Project

Stock News2025-12-29

HXTL (01085) announced that on December 29, 2025, Qinghai Zhongkong (the Company's indirect non-wholly-owned subsidiary), as the lessee, entered into a land compensation agreement with the lessor for the operation of the Company's proposed Delingha 350MW solar thermal power generation demonstration (pilot) project. The lease term shall not exceed twenty years, with an option to renew for a further twenty years.

To the knowledge of the Directors, both the lessor and the owner of the land use rights are independent third parties. According to the Notice on the Charging Standards for Grassland Vegetation Restoration Fees and Related Matters in Qinghai Province (QHFSO2-2018-0009) issued by the Development and Reform Commission and the Department of Finance of Qinghai Province, entities carrying out engineering construction projects that requisition or use grassland within Qinghai Province must pay a grassland vegetation restoration fee to the grassland administrative department or its authorized grassland supervision station.

Consequently, the lessee is also required to pay the grassland vegetation restoration fee levied by the Delingha Municipal Government.

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