CEEC (3996) Announces Renewal of Commercial Factoring Service Framework Agreement

Bulletin Express10-31

China Energy Engineering Corporation Limited (the Company; stock code: 3996) has approved a 2026 Commercial Factoring Service Framework Agreement with Beijing Energy Chemistry Factoring Company. The new agreement extends commercial factoring services (including non-recourse and recourse factoring) and related consulting services from 1 January 2026 to 31 December 2026, succeeding the current 2023-2025 framework set to expire on 31 December 2025.

Under this renewed agreement, annual caps are set at RMB2.0 billion for non-recourse factoring services, RMB800 million in total asset balance for recourse factoring services, and RMB20 million for other commercial factoring-related consulting services during 2026. According to official disclosures, these caps were determined after considering ongoing financing needs, historical transaction levels, and the Company’s future business growth.

The arrangement is a continuing connected transaction under the Listing Rules, given that Beijing Energy Chemistry Factoring Company is held 60% by Energy Group, which is the principal shareholder of the Company. These transactions are subject to reporting, announcement, and annual review requirements but are exempt from independent shareholders’ approval due to applicable percentage ratios being between 0.1% and 5%. The Board has affirmed that the agreement’s pricing policies are determined on no less favorable terms than those offered by independent third parties, aiming to enhance financing flexibility, optimize cash flow, and strengthen supply chain finance management for the Group.

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