PROSP GP INTL (01421) announced on November 4, 2025, that the joint venture company (Shengji Limited), Shengde International, and Huge Act (a wholly-owned subsidiary of the company) entered into a joint venture agreement. The agreement outlines the rights and obligations of Shengde International and Huge Act as shareholders of the joint venture, as well as the structure and business operations of the joint venture group.

Upon completion of the subscription of new shares in the joint venture, Huge Act and Shengde International will hold 51% and 49% ownership, respectively. The joint venture will become a subsidiary in which PROSP GP INTL holds a 51% stake, and its financial performance will be consolidated into the group's financial statements.

The joint venture will function solely as an investment holding company and will not engage in any operational business activities. The joint venture group will conduct business in China's high-end perovskite equipment sector through Xinruiteng.

As part of its ongoing business expansion, the group is closely monitoring the latest developments in third-generation perovskite equipment within the photovoltaic industry to explore new opportunities. The board believes the perovskite market holds strong growth potential.

The establishment of the joint venture aligns with the group's business development strategy and industry growth plans, which are expected to benefit its future growth. The board is confident that the joint venture presents an excellent opportunity to expand its solar photovoltaic business.