CGN New Energy Holdings Co., Ltd. (Stock code: 1811) disclosed that on November 26, 2025, its wholly owned subsidiary, Yunnan CGN Energy Services Co., Ltd. (CGN Yunnan), and CGN Chuxiong Mouding Wind Power Generation Co., Ltd. (CGN Chuxiong Mouding), a non-wholly owned subsidiary of China General Nuclear Power Corporation (CGN), entered into a Maintenance Services Framework Agreement. Under this agreement, CGN Yunnan will provide repair, maintenance, and testing services for wind farms, photovoltaic power plants, and energy storage power stations to CGN Chuxiong Mouding and certain other project companies in Yunnan Province.

The agreement covers a three-year term from January 1, 2026, to December 31, 2028. Fees for these services are determined by reference to market rates in the relevant regions, taking into account quotations from at least two independent third parties. Based on expected demand, upgrades in capacity, and possible cost fluctuations, the transaction’s annual caps for each of the years 2026, 2027, and 2028 have been set at RMB 20 million.

Because CGN Chuxiong Mouding is a non-wholly owned subsidiary of CGN, which holds approximately 72.30% indirect interest in CGN New Energy, the agreement constitutes a continuing connected transaction under the Hong Kong Listing Rules. The highest applicable percentage ratio for the annual caps exceeds 0.1% but is less than 5%, subjecting the transaction to reporting, annual review, and announcement requirements, but exempting it from any circular or independent shareholders’ approval requirement.

According to the announcement, signing this agreement can expand CGN New Energy’s income sources while enhancing its expertise and reputation in facility maintenance. The board of directors believes the arrangement is in the ordinary and usual course of business, entered into on normal commercial terms, and in the interests of the company and its shareholders as a whole.