SUNSHINE OIL (02012) Subsidiary Signs Non-Binding Cooperation Framework Agreement with China Southern Power Grid Energy Efficiency & Clean Energy Co., Ltd.

Stock News2025-11-24

SUNSHINE OIL (02012) announced that its wholly-owned subsidiary, Sangxiang Petrochemical (Shanghai) Co., Ltd., signed a non-binding cooperation framework agreement with China Southern Power Grid Energy Efficiency & Clean Energy Co., Ltd. on November 24, 2025.

Under the agreement, the two parties will collaborate on new energy projects in Shandong and Guangdong, China, covering areas such as carbon reduction, energy efficiency, heating, cooling, and other renewable energy initiatives. SUNSHINE OIL will be responsible for project resource reserves, preparatory documentation, preliminary assessments, and early-stage development. China Southern Power Grid Energy Efficiency & Clean Energy Co., Ltd. will lead in project financing, construction management, and power plant operations.

The Board expects this framework agreement to support the company's diversification into the energy sector.

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