Beijing SinoHytec Co., Ltd. (2402.HK) disclosed the Second Sale of Goods Supplemental Agreement proposed on December 3, 2025, aiming to revise existing annual caps under its previous Sale of Goods Agreement. The revision reflects a growing demand for the company’s products and SinoHytec Hydrogen Energy Group’s expanded procurement requirements.

According to the announcement, SinoHytec Hydrogen Energy, held 72.22% by Beijing SinoHytec and 24.56% by Tonglan Technology, qualifies as a connected subsidiary. Under the new proposal, annual caps for the two years ending December 31, 2026 will be increased from RMB7 million and RMB18 million to RMB7 million and RMB33 million in 2025, and adjusted from RMB18 million to RMB38 million in 2026, respectively (figures expressed in ten-thousands of renminbi).

The proposed revision requires approval from independent shareholders at an extraordinary general meeting scheduled for December 23, 2025. Three individuals involved—two executive directors of Beijing SinoHytec, who also serve as general partners of Tonglan Technology, and one director who chairs the board and holds a directorship in SinoHytec Hydrogen Energy—must abstain from voting. An independent board committee comprising all independent non-executive directors, supported by an independent financial adviser, will review the transaction and provide recommendations at the upcoming meeting.

The company highlights that all other terms and conditions of the framework agreement remain unchanged. The revision is intended to support anticipated growth in hydrogen energy infrastructure and secure a steady supply arrangement, in line with the ongoing demand from SinoHytec Hydrogen Energy Group.