Sunshine Oil Sands (02012) has announced that on October 20, 2026 (Hong Kong and Calgary, Alberta time), its subsidiary Shenzhen Zhongwang Energy Technology Co., Ltd. signed an energy cooperation agreement with the Dongshifangtai People's Government of Anshan, Liaoning Province.

The contract carries a term of 33 years, under which Shenzhen Zhongwang Energy will fund the conversion of the government office building's existing coal-fired boilers into ground-source heat pump clean energy heating, with the government paying energy usage fees.

This project marks Shenzhen Zhongwang Energy's first new energy pilot project in Liaoning. Construction has already begun, and the project is expected to be completed and delivered for operation before December 20, 2026.

Once completed, the project will serve as a demonstration of local energy conservation and emission reduction, while also laying a solid foundation for more new projects Shenzhen Zhongwang Energy plans to launch next year, thereby enabling Sunshine Oil Sands to move from its traditional single oil sands business into a new track of new energy business development.