On September 11, at the ReThink HK 2025 sustainability exhibition, WING LEE DEV (09639) subsidiary Wing Lee New Energy jointly held a strategic cooperation signing ceremony with Sany Zhongfu Hong Kong, successfully signing four key agreements - a strategic cooperation framework agreement with the China-Hong Kong Logistics Association, and three procurement intention agreements with Ideal Logistics (Hong Kong) Limited, Likao Transportation Services (Asia) Limited, and Desheng Holdings Limited. This signing ceremony represents a concrete manifestation of the Hong Kong Zero Carbon Smart Alliance's strategic blueprint in commercial implementation. For WING LEE DEV, it signifies that its new energy business has officially entered the revenue realization phase from preliminary layout, injecting substantial momentum into the company's revenue structure optimization.

Looking back to May this year, WING LEE DEV partnered with industry leaders including Sany Group and CATL to establish the Hong Kong Zero Carbon Smart Alliance, with the core objective of building a comprehensive "solar, storage, charging, battery swapping, and recycling" solution chain. This signing directly drives business transformation from industrial chain collaborative layout and capability reserves to order revenue conversion, marking a crucial turning point for new energy segment profitability.

The strategic cooperation framework agreement with the China-Hong Kong Logistics Association enables precise alignment of advantageous resources among the three parties in the green logistics industrial chain. The three parties will jointly implement Hong Kong's highest green logistics standards, bridging Sany's pure electric logistics transport vehicles, Wing Lee New Energy's charging and battery swapping facilities, and the logistics association's enterprise resources. This will both promote Hong Kong's green transportation industry development and pave the way for subsequent large-scale orders. Analysts believe this cooperation is expected to significantly strengthen WING LEE DEV's new energy business customer base for fiscal year 2025/26, laying the foundation for revenue growth.

Ms. Zhou Jianqi, Director and General Manager of Zhongfu Hong Kong Machinery Co., Ltd. (left), Mr. Chen Lumin, Executive Director of Wing Lee New Energy (center), and Mr. Zhou Changbin, President of China-Hong Kong Logistics Association and Chairman of Hengfeng Group (right) jointly signed the strategic cooperation framework agreement.

Of breakthrough significance are the procurement intention agreements signed with three logistics enterprises, which clearly focus on large-scale application of new energy logistics vehicles, supporting charging and battery swapping services, vehicle operation and maintenance, and battery recycling core businesses, all pointing to "implementable and chargeable" profit scenarios. These agreements will become short-term realizable revenue increments.

Mr. Wei Yeji, General Manager of Ideal Logistics (Hong Kong) Limited (right), attended the procurement intention agreement signing ceremony.

Mr. Huang Ronggen, Director of Likao Transportation Services (Asia) Limited (right), attended the procurement intention agreement signing ceremony.

New energy analysts from brokerage institutions point out that Wing Lee New Energy's order-based revenue will serve as a "stabilizer" to smooth traditional business cycle fluctuations. The technology and resources integrated by the Zero Carbon Smart Alliance are being converted into tangible orders and cash flow. For investors, this is not only a signal of short-term revenue increment, but also means that WING LEE DEV has found a sustainable profit path for its new energy business under Hong Kong's "Carbon Neutrality 2050" and "Northern Metropolis" policy dividends.

As orders gradually materialize and the battery swapping station network takes shape, WING LEE DEV is expected to capitalize on Hong Kong's green infrastructure opportunities under the dual-wheel drive of "traditional construction + new energy," achieving breakthroughs in both revenue and profit.