GCL New Energy (00451) Subsidiary Signs Two PV Project PC Agreements with Zhejiang Xin Hong Totaling RMB23.54 Million

Stock News12-05

GCL New Energy (00451) announced that on December 5, 2025 (after trading hours), Wuhan GCL (an indirect wholly-owned subsidiary of the company) entered into a PC agreement for a distributed photovoltaic project with Zhejiang Xin Hong (an indirect non-wholly-owned subsidiary of GCL Energy Technology). Under the agreement, Wuhan GCL (as the contractor) will provide PC services for Zhejiang Xin Hong (as the client) to construct a 7.137 MW distributed photovoltaic project in Yangzhou High-Tech Zone, Jiangsu Province, China. The total contract value is approximately RMB16.42 million (tax inclusive).

On the same day, Wuhan GCL also signed a PC agreement for a rooftop photovoltaic project with Zhejiang Xin Hong. According to the agreement, Wuhan GCL (as the contractor) will provide construction and grid-connection services for Zhejiang Xin Hong (as the client) to build a 17.97 MW rooftop photovoltaic project in Suzhou, Jiangsu Province, China. The total contract value for this project is approximately RMB7.12 million (tax inclusive).

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