ZHEJIANGEXPRESS (00576) announced that on December 31, 2025, the company entered into a capital injection agreement with the target company, Zhejiang Communications Investment Zhongtan Environmental Technology Co., Ltd., and the commercial group, Zhejiang Provincial Commerce Group Co., Ltd. The agreement involves an injection of 226 million yuan to acquire an 11.6733% stake in the target company's enlarged registered capital.
Following the completion of the capital injection agreement, the company will hold an 11.6733% equity interest in the target company, which will not become a subsidiary of the company. The target company is a digital integrated energy service provider that connects solar power generation, the power grid, energy storage, and flexible loads into an intelligent ecosystem.
Its strategic core focuses on integrated energy services and new energy asset investments, with a particular emphasis on distributed photovoltaic systems for industrial and residential rooftops, electric vehicle charging networks, and energy storage systems that enhance efficiency and value. Targeting high-value scenarios such as transportation hubs and industrial parks, the target company develops low-carbon demonstration projects.
It utilizes long-term service contracts, an Energy-as-a-Service model, and a virtual power plant platform to deliver stable, scalable returns. Looking ahead, national decarbonization policies, the rapid adoption of new energy vehicles, and the integration of energy storage with power market reforms create strong tailwinds.
The target company mitigates market price volatility through localized consumption, intelligent dispatch, and synergistic "solar-storage-charging" effects. This capital injection is closely aligned with national strategy, directly fostering new green growth drivers by integrating clean energy solutions into transportation scenarios.
Consequently, it accelerates the company's green and low-carbon transformation while enhancing its ESG performance and policy responsiveness. Supported by the transportation group, the target company possesses clear growth visibility and resilient cash flow characteristics, backed by a validated project pipeline, scenario access, and a balanced mix of owned and partnership models.
It also holds advantages in execution, digital operations, and risk control. Through this capital injection, the group also expects to strengthen its capital market strategy by exploring green energy assets, growth prospects, and investor recognition.
Entering into the capital injection agreement will enable the group to immediately enter and rapidly deploy in the high-growth green energy sector. This will diversify the group's revenue streams through resilient cash inflows, generate operational synergies with existing transportation assets, and thereby enhance long-term value creation.