CNE TECH CORP (00611) has announced that on February 10, 2026, its subsidiary, CNNC (Nanjing), intends to acquire the entire equity interest in Ningxia Tianping Boguang New Energy Co., Ltd. from Ningxia Jiayang for a total consideration of approximately RMB 80.38264 million. Upon completion of the acquisition, the target company will become a wholly-owned subsidiary of CNE TECH CORP, and its financial results will be consolidated into the Group's financial statements.

The target company holds a shared energy storage power station (200 MW / 400 MWh) located in Hexi Town, Tongxin County, Wuzhong City, Ningxia Hui Autonomous Region. The company believes the acquisition will enable the Group to own and operate a grid-connected, revenue-generating shared energy storage facility in Ningxia, a significant renewable energy base in China.

The project was developed and constructed by the target company and has completed all major construction and approval procedures. It achieved full-capacity grid connection in October 2024 and is currently in normal commercial operation. Ningxia is one of China's primary regions for renewable energy generation, where there is strong policy support and market demand for grid-side and shared energy storage. This is aimed at alleviating curtailment issues for wind and photovoltaic power, enhancing peak shaving and frequency regulation capabilities, and ensuring grid stability.

The project's location and operational status strategically expand the Group's power generation and energy storage portfolio. This move not only diversifies the Group's energy sources geographically but also creates an additional, sustainable revenue stream. Furthermore, it offers potential cost savings through economies of scale, aligning the Group's business with sustainable development needs.