TL NATURAL GAS (08536) announced that on December 16, 2025, the company signed a joint venture agreement with Huate Power and Jiuyu Investment Holdings to establish a joint venture. Upon completion of the capital increase, the joint venture will be 51% owned by the group, with Huate Power and Jiuyu Investment Holdings holding 24.5% each.

The joint venture will primarily engage in the management and operation of methanol-hydrogen fuel cell off-grid power supply systems and liquid-cooled supercharging stations (including but not limited to operational and under-construction projects) developed and deployed by Shenzhen Supercomputing Power Technology in China.

As of the announcement date, the joint venture has been registered and is wholly owned by TL NATURAL GAS. The company will facilitate the establishment of a wholly foreign-owned enterprise in Shenzhen, China, with a registered capital of RMB 5 million.

Under the agreement, upon capital increase completion, the joint venture will issue 2.94 million shares, with Huate Power and Jiuyu Investment Holdings subscribing for 1.47 million shares each at a total investment of HKD 1.47 million per party.

The board believes the power charging market holds strong growth potential. The joint venture will enable the group to leverage Huate Power and Jiuyu Investment Holdings' resources, particularly Huate Power's expertise as an established player in methanol-hydrogen fuel cell off-grid power supply systems and supercharging station operations in China.