BINHAI INV (02886) announced that its wholly-owned subsidiary, Tianjin Teda Binhai Clean Energy Group Co., Ltd. (Tianjin Clean Energy), has secured a total credit facility of RMB 150 million from China Petrochemical Finance Co., Ltd. Tianjin Branch (Sinopec Finance Tianjin).

The credit facility will be provided through commercial acceptance bills issued by Sinopec Finance Tianjin, which will be used to settle natural gas procurement payments to upstream suppliers. Tianjin Clean Energy will bear the discount interest charged by upstream suppliers for the discount of these bills.

Tianjin Clean Energy and Sinopec Finance Tianjin have signed a Commercial Bill Acceptance Contract, which remains valid until December 30, 2025.

The company believes that based on actual business needs, this transaction represents the Group's first use of bill settlement for gas payments. This model provides the company with low-cost funding while optimizing the Group's financing structure and financial costs, thereby strongly supporting the Group's operational and development needs.

Furthermore, through this transaction, China Petrochemical continues to fulfill its commitment to support the Group's sustainable development, demonstrating Sinopec's firm confidence in the company's development prospects and practical commitment as an important shareholder.