Hengxin Technology Plans Very Substantial RMB4.7 Billion Solar Thermal Acquisition in Qinghai

Hengxin Technology Ltd. ( (HK:1085) ) has shared an update.

Hengxin Technology’s subsidiary Qinghai Zhongkong has signed three major contracts with companies from GCL Group for the Delingha 350 MW solar thermal project in Qinghai, with a total value of about RMB4.73 billion. The agreements cover construction works by GCL Green Energy, supply of key equipment by Lvyuan Xinneng, and installation and commissioning services by GCL Green Energy, marking a significant expansion of Hengxin’s exposure to large-scale solar thermal infrastructure in China.

Because the aggregated transaction size exceeds Hong Kong listing thresholds, the deals are classified as a very substantial acquisition and will require shareholder approval at an extraordinary general meeting. The company plans to issue a circular with further details by early July 2026, and has cautioned shareholders and potential investors that the transactions may not proceed if approval is not obtained, underscoring governance requirements and execution risk around this large-scale investment.