MEILAN AIRPORT (00357) has announced that on February 13, 2026, the company entered into a power supply agreement with Hainan Control Energy. Under the agreement, Hainan Control Energy will procure electricity for the company for the year ending December 31, 2026.

The company had previously signed a related electricity trading contract with Hainan Control Energy in March 2025, which was valid until December 31, 2026. At that time, Hainan Control Energy was the supplier with the lowest bid.

According to the latest requirements issued by the Hainan Provincial Development and Reform Commission for participants in the Hainan electricity retail market, the company must adjust its existing electricity pricing package. This necessitates the signing of a new power supply agreement by both parties.

Failure to complete the filing for the new contract in compliance with the regulations would result in the company's exclusion from the market and exposure to the risk of higher electricity costs. The execution of the power supply agreement enables the company to adhere to the revised regulatory framework and avoid these potential adverse consequences.

Furthermore, by entering into the new agreement, the company can negotiate more favorable electricity rates compared to the current arrangement. Hainan Control Energy has also expressed its willingness to commit, for the duration of the power supply agreement, to ensuring that the company's electricity price does not exceed the grid's average proxy procurement price. Consequently, the board of directors believes the company will secure a more advantageous electricity pricing arrangement.