CORNERSTONE TEC Holdings (08391) has announced that on April 28, 2026, its wholly-owned subsidiary, Cornerstone EV Charging Service Limited, and its associated company, Spark EV Company Limited (Spark), entered into a strategic cooperation agreement with XPeng Charging (Hong Kong) Limited (XPeng). Under the terms of the agreement, the parties aim to jointly develop the electric vehicle (EV) charging ecosystem in the Asia-Pacific region. This collaboration is founded on the principle of complementary strengths and mutual benefit, focusing on technology enablement, resource sharing, and ecosystem co-development, with the goal of providing EV users with an efficient and compliant charging network. A key component of the partnership involves XPeng co-investing with the Group and Spark to develop EV charging stations across the Asia-Pacific region, with the management and operation of these stations to be entrusted to the Group and Spark. By pooling financial and technical resources, XPeng, the Group, and Spark intend to accelerate the deployment of infrastructure to support the growing demand for EV charging in relevant markets. The Board of Directors believes that partnering with XPeng, a leading smart EV company, will leverage the Group's technical expertise and Spark's regional footprint to expedite the rollout of charging infrastructure in the Asia-Pacific market. The co-investment plan ensures a clear commitment to infrastructure growth, while user-centric benefits such as charging vouchers are expected to boost utilization rates of the Group's charging network. This collaboration signifies XPeng's strong confidence and serves as a clear endorsement of the Group's and Spark's capabilities, market knowledge, and execution strength in the Asia-Pacific region, positioning both as reliable partners for XPeng's ongoing regional expansion. The partnership also aligns with the Group's long-term strategy to broaden its international presence and enhance its brand influence.
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