Concord New Energy Group Limited (Stock Code: 182) has disclosed a major transaction involving two supply agreements for the procurement of photovoltaic (PV) modules from LONGi Solar Technology (U.S.) Inc. The total intended purchase price under these agreements stands at approximately US$117.95 million.

According to the announcement dated 10 November 2025, the company’s wholly owned subsidiary, Red River Clean Energy, LLC, signed two master agreements on 9 May 2025 and 12 May 2025 for acquiring around 210MW and 235MW of solar panels, respectively. These modules are earmarked for solar power and energy storage projects to be developed in the United States. Delivery deadlines are set for 29 June 2026 and 25 January 2027, with payment terms requiring a 5% deposit and the remainder due within 30 days of acceptance.

The transaction is classified as a major transaction under relevant listing rules, requiring shareholder approval. To facilitate this, a Special General Meeting (SGM) is scheduled in Hong Kong on 26 November 2025. Shareholders on record by 20 November 2025 will be entitled to vote. If approved, the purchase orders will be issued, and the agreements become binding to both parties. The board recommends shareholders to vote in favor, highlighting alignment with the company’s clean energy project initiatives.