Zhejiang Huhang (00576) plans to inject 226 million yuan to acquire 11.67% of Zhejiang Trading's shares in China Carbon Environmental Technology

According to Zhitong Finance App, Zhejiang Shanghai—Hangzhou (00576) announced that on December 31, 2025, the company signed a capital injection agreement with the target company (Zhejiang Trading Carbon Environmental Technology Co., Ltd.) and the commercial group (Zhejiang Commercial Group Co., Ltd.) to inject RMB 226 million to acquire 11.6733% of the target company's increased registered capital. After the capital injection agreement is completed, the company will hold 11.6733% of the target company's shares, and the target company will not become a subsidiary of the company.

Target Company is a digital integrated energy service provider connecting solar power generation, power grids, energy storage, and flexible loads into an intelligent ecosystem. The core of its strategy is integrated energy services and investment in new energy assets, focusing on distributed photovoltaics for industrial and residential roofs, electric vehicle charging networks, and energy storage systems that enhance efficiency and value. Target companies build low-carbon demonstration projects for high-value scenarios such as transportation hubs and industrial parks, and use long-term service contracts, energy as a service models, and virtual power plant platforms to provide stable and scalable returns. Looking forward to the future, the country's decarbonization policy, the rapid spread of new energy vehicles, and the integration of energy storage and electricity market reforms have created a strong tailwind, while target companies mitigate market price fluctuations through local consumption, intelligent scheduling, and “optical storage and charging” synergy effects. This capital injection is closely in line with the national strategy. By integrating clean energy solutions into transportation scenarios, it directly cultivates new green growth momentum, thereby accelerating the company's green and low-carbon transformation and enhancing its ESG performance and policy responsiveness. With the support of Transportation Group, with proven project pipelines, scenario traffic, and a balanced combination of owned and cooperative models, the target company has clear growth visibility, flexible cash flow characteristics, and advantages in execution, digital operations, and risk control. Through this capital injection, the Group also expects to strengthen its capital market strategy by exploring green energy assets, growth prospects and investor recognition.

The establishment of a capital injection agreement will enable the Group to immediately enter and rapidly deploy the high-growth green energy sector, diversify the Group's earnings through flexible cash inflows, and create operational synergies with existing transportation assets, thereby enhancing long-term value creation.