Hongying Intelligence announced that Shanghai Hongying New Energy Technology Co., Ltd., a wholly-owned subsidiary of the company, is a member of the winning bidder consortium “Bid Section [001] Xinjiang Tongguang Technology Co., Ltd. Luopu 500,000 kilowatt/2 million kilowatt-hour energy storage supporting 2 million kilowatt photovoltaic power generation project” due to major policy adjustments, and the project tenderer, Xinjiang Tongguang Technology Co., Ltd., announced the cancellation of the bid results. The project is in the stage where the bid has been won but a formal contract has not been signed. The termination will not have a significant adverse impact on the production, operation and performance of the company and Hongying New Energy.

Hongying Intelligence announced that Shanghai Hongying New Energy Technology Co., Ltd., a wholly-owned subsidiary of the company, is a member of the winning bidder consortium “Bid Section [001] Xinjiang Tongguang Technology Co., Ltd. Luopu 500,000 kilowatt/2 million kilowatt-hour energy storage supporting 2 million kilowatt photovoltaic power generation project” due to major policy adjustments, and the project tenderer, Xinjiang Tongguang Technology Co., Ltd., announced the cancellation of the bid results. The project is in the stage where the bid has been won but a formal contract has not been signed. The termination will not have a significant adverse impact on the production, operation and performance of the company and Hongying New Energy.