HXTL Subsidiary Secures ¥200 Million Policy-Based Financial Instrument for 350MW Solar Thermal Power Project in Qinghai

Stock News10-15

HXTL has announced that its indirectly held subsidiary, Zhejiang Zhongguang New Energy Technology Co., Ltd., has signed a loan agreement on October 14, 2025, with the Jin Yin New Policy-Based Financial Instruments Co., Ltd., involving a total of ¥200 million. This loan will be managed by the Zhejiang branch of the China Exim Bank and is designated to supplement the capital requirements for the construction of the 350MW Tower Solar Thermal Power Project undertaken by Qinghai Zhongkong Solar Power Co., Ltd., a wholly-owned subsidiary of Zhejiang Zhongguang. The project is located in Delingha City, Haixi Prefecture, Qinghai Province, and has an overall capacity of 350 megawatts, utilizing tower solar thermal technology. This project is characterized by strong power generation stability and excellent energy storage capabilities. Upon completion, it will provide stable and reliable clean energy to the Qinghai power grid, serving as an important demonstration project for building a new power system, while significantly enhancing the group's industry position in solar thermal power generation. The board believes that this loan will supplement the project's capital needs, ensuring its successful implementation and aligning with the group's renewable energy strategy. The project is expected to generate stable long-term revenue, boosting the group's market reputation and competitiveness in the solar thermal power sector. The loan terms are standard commercial terms and are in the overall best interest of the company and its shareholders.

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The board believes that this loan will supplement the project's capital needs, ensuring its successful implementation and aligning with the group's renewable energy strategy. The project is expected to generate stable long-term revenue, boosting the group's market reputation and competitiveness in the solar thermal power sector. 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This loan will be managed by the Zhejiang branch of the China Exim Bank and is designated to supplement the capital requirements for the construction of the 350MW Tower Solar Thermal Power Project undertaken by Qinghai Zhongkong Solar Power Co., Ltd., a wholly-owned subsidiary of Zhejiang Zhongguang. The project is located in Delingha City, Haixi Prefecture, Qinghai Province, and has an overall capacity of 350 megawatts, utilizing tower solar thermal technology. This project is characterized by strong power generation stability and excellent energy storage capabilities. Upon completion, it will provide stable and reliable clean energy to the Qinghai power grid, serving as an important demonstration project for building a new power system, while significantly enhancing the group's industry position in solar thermal power generation. 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