XINTE ENERGY (01799) announced that on September 26, 2025, Xinjiang New Energy entered into an equity transfer agreement with the company's controlling shareholder TBEA. Under the agreement, TBEA has agreed to transfer 100% equity of Xuyi Gaochuan to Xinjiang New Energy for a consideration of RMB 136.8 million.

As of the announcement date, Xinjiang New Energy is a non-wholly owned subsidiary of the company, with the company holding a 91.26% interest. Xinjiang New Energy is primarily engaged in the development, construction and operation of wind and photovoltaic resources, as well as the research and development, manufacturing and sales of inverters, flexible DC converter valves and static var compensators.

Xuyi Gaochuan is mainly engaged in wind power generation and the sales of wind power generation equipment, electrical and electronic control equipment.

In 2023, due to land use defects in the Xuyi project operated by the target company, the company temporarily divested the Xuyi project to TBEA to facilitate the smooth progress of A-share listing. As of the announcement date, the land use defects have been fully rectified.

The target company's main business falls within the scope of the company's new energy power station operation segment. Upon completion of the acquisition, Xuyi Gaochuan's financial performance will be consolidated into the group's financial statements, which will help further expand the group's new energy power station operation business scale and enhance overall competitiveness and profitability.