Wuxiang Beiqing Smart Energy, affiliated with Shangao New Energy (01250), signed an EPC contract with China Railway 17th Bureau Project No. 2

According to Zhitong Finance App, Shangao New Energy (01250) announced that on December 22, 2025, Wuxiang Beiqing Smart Energy (an indirect non-wholly-owned subsidiary of the Company, as the contractor) signed an EPC contract with China Railway Seventeenth Bureau Project No. 2 (as the contractor). According to the EPC contract, Wuxiang Beiqing Smart Energy agreed to appoint a contractor to provide EPC services for the project (100 MW photovoltaic power generation project located in Wuxiang County, Changzhi City, Shanxi Province). The total contract price is RMB 405.5 billion (tax included) (subject to adjustment when the national tax policy changes).

The Group has always been actively and deeply integrated into the national strategic planning layout and the diversified development ecosystem built by Shandong Expressway Group. The Group continues to be optimistic about the positive development of China's economy, actively integrates into the new development pattern in the clean energy sector, and actively promotes projects in this field strongly supported by the Chinese Government in accordance with the “14th Five-Year Plan” to achieve peak carbon dioxide emissions by 2030 and carbon neutrality by 2060. By continuously expanding the clean energy market across the country, the investment, construction and operation of this project will further enhance the Group's strategic layout, business area and footprint in the Shanxi market. This move will not only help the Group achieve continuous development of its diversified business portfolio in the new energy sector, but will also broaden the Group's revenue base in the future, strengthen the Group's long-term competitiveness and enhance its profitability.