Jingneng Clean Energy (00579) Announces New Power Sales and Purchase Framework Agreements Through 2028

Bulletin Express02-27

Beijing Jingneng Clean Energy Co., Limited (00579) announced that on 27 February 2026 it entered into the Power Sales Framework Agreement and the Power Purchase Framework Agreement with its controlling shareholder, Beijing Energy Holding Co., Ltd. (BEH). Both agreements took effect upon signing and will expire on 31 December 2028.

According to the announcement, the Company will sell electricity or power generation rights to BEH and/or its associates under annual cap figures of RMB760.00 million, RMB780.00 million, and RMB820.00 million for each of the three years ending 31 December 2028. Meanwhile, BEH and/or its associates will provide power to the Group under annual cap figures of RMB30.00 million, RMB50.00 million, and RMB80.00 million for the corresponding periods.

Since BEH is a controlling shareholder with approximately 68.68% ownership of Jingneng Clean Energy, these transactions constitute continuing connected transactions under Chapter 14A of the Listing Rules. The announcement indicates that the highest applicable percentage ratio for each set of proposed annual caps exceeds 0.1% but remains under 5%, requiring reporting, annual review, and announcement but no independent shareholders’ approval.

The Board, including independent non-executive directors, believes the transactions will facilitate broader market-based electricity trading while ensuring business efficiency. They consider the agreements to be on normal commercial terms, fair, and reasonable, thereby serving the best interests of both the Company and its shareholders.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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