Concord New Energy Group Limited (SEG) said its wholly owned subsidiary Tianjin Huaxing has signed a purchase contract valued at about 38.1 million Singapore dollars with China Construction Eighth Bureau Development Construction Corp.

The contract, executed after trading hours on May 8 2026, covers photovoltaic modules, inverters, mounting structures and other materials with a total capacity of 120 MW for a solar project in Huai’an, Jiangsu Province.

Payment will be made in stages, with 10 % of each of the two consideration portions due as advance payments, and the balance tied to delivery, inspection and warranty milestones. Delivery of all equipment is scheduled to be completed by the end of October 2026.

Concord New Energy said the transaction falls under a “discloseable transaction” category as its highest applicable percentage ratio exceeds 5 % but is below 25 %, requiring announcement under Chapter 14 of the Hong Kong Listing Rules.

The purchase will be funded through the group’s internal resources and/or borrowings. Concord New Energy added that the terms were reached on normal commercial terms after an open tender process and that the equipment will support the company’s ongoing expansion in renewable power generation.