HYP-ARCH: Consortium wins bid for 159 million yuan energy storage station project

HYP-ARCH announced that its wholly-owned subsidiary Tianjin Jiahui Power Engineering Co., Ltd. has signed the "General Contract for the Tongwei Yiheng New 50MW/200MWh Independent Energy Storage Power Station Demonstration Project" with Henan Chuneng Power Engineering Co., Ltd. and Hunan Hongyuan Power Construction Co., Ltd. as a consortium, and the client Gansu Tongwei Yiheng New Energy Technology Co., Ltd. The signed contract price is RMB 159 million, of which Tianjin Jiahui is responsible for RMB 133 million. The contract clearly specifies the scope of the project, construction period, contract price and payment conditions, rights and obligations of all parties, liability for breach of contract, and dispute resolution methods. However, there are risks of inability to perform the contract on time or in full due to factors such as performance capability, significant changes in the external macro environment, changes in relevant national policies, and other force majeure factors. If the project is successfully implemented, it is expected to have a positive impact on the company's future operating performance