On 13 February 2026, China Power International Development Limited (Stock Code: 2380), through its indirect non wholly-owned subsidiary Weifang New Energy, entered into three EPC Contracting Agreements with State Nuclear Electric Power Planning Design & Research Institute Company Limited, Shandong Electric Power Engineering Consulting Institute Corp., Ltd., and China Railway 14th Bureau Group Electrification Engineering Co., Ltd. These agreements cover the first phase of the Lubei wind-photovoltaic-storage-transmission integrated project in Weifang, Shandong Province.

The total consideration for the contracts amounts to RMB 767.94 million (equivalent to approximately HK$862.85 million). Phase I involves installing 180MW of photovoltaic power and 62.50MW of wind power capacity, constructing a 500kV step-up substation, and establishing connecting transmission lines. Upon completion, the Lubei Project is intended to complement traditional salt production facilities while improving land utilization and the local energy mix.

As the contractors are indirect non wholly-owned subsidiaries of State Power Investment Corporation Limited, which is the ultimate controlling shareholder of China Power, these transactions constitute connected transactions under Hong Kong’s Listing Rules. The company notes that the relevant percentage ratios exceed 0.1% but are below 5%, subjecting the agreements to the announcement and reporting requirements without necessitating independent shareholders’ approval.