XINTE ENERGY (01799) announced that to facilitate the establishment of its first asset-backed securities (ABS) program, a partnership transfer agreement was signed on December 18, 2025. Under the agreement, the company's non-wholly owned subsidiary, Inner Mongolia Energy, will transfer a 79.92% stake (equivalent to RMB 1.337 billion in capital commitment) in Xinjiang Wind Power Partnership (Limited Partnership) to the asset manager. Subsequently, Kangping New Energy and Inner Mongolia Energy will each enter into transfer agreements with the partnership, under which they will transfer their 99.99% equity stakes in Rongsheng Power and Xinyuan New Energy to the partnership. The transfer consideration will be determined through fair negotiations based on independent valuations of the project companies.

TBEA, using energy infrastructure assets held by its subsidiaries (including the group), has applied for a shelf registration of ABS (REITs-like) on the Shanghai Stock Exchange, with a total quota of RMB 3 billion, allowing multiple issuances for qualified professional investors. As of the announcement date, TBEA's REITs-like program has received a no-objection letter from the exchange. Xinjiang New Energy plans to use two of its renewable energy power projects as the underlying assets for the first issuance under TBEA's REITs-like program.

The total issuance size of the ABS is expected to be RMB 1.337 billion. The proceeds will be injected into the partnership to achieve securitization of the target assets. The partnership will use the funds to acquire the target equity, provide shareholder loans to replace bank borrowings, and cover operational expenses and taxes. In return, ABS holders will benefit from the economic returns generated by the target assets.

The company stated that the issuance of the first ABS program will optimize the group's asset-liability structure, revitalize existing assets, improve asset turnover efficiency, and diversify financing channels. This initiative is expected to enhance capital utilization efficiency and support the group's long-term sustainable growth.