CCIAM FUTURE EN's subsidiary CCIAM Engineering has signed a memorandum of understanding with Key Action

According to the announcement from Xinneng Low Carbon (00145), on September 4, 2025, the company's wholly-owned subsidiary Xinneng Engineering (China) Co., Ltd. (Xinneng Engineering) entered into a memorandum of understanding (MOU) with Key Action Limited (Key Action). Under the MOU, Xinneng Engineering agrees to establish a business partnership with Key Action to support the establishment and operation of electric bicycle assembly lines in Asia and the implementation and expansion of Key Action's business plan. As stated in the MOU, a well-known Chinese company that manufactures electric bicycles and related charging components under its brand name in Asia intends to authorize Key Action to import electric bicycle components and charging components from China for assembly and resale in Asia. The company also intends to grant Key Action exclusive rights to market and distribute its products in Asia, provide after-sales service, and use its intellectual property, including brand names, advertising materials, goodwill, and marketing content. Xinneng Engineering will provide capital expenditure (CAPEX), technical expertise, and transfer relevant technology to assist in product charging and maintenance in the Asian region. All significant CAPEX, financing arrangements, and key operational decisions related to the business cooperation must receive prior written approval from Xinneng Engineering to take effect, and all investments and related activities must be approved by Xinneng Engineering and/or the company based on Key Action's annual budget and business plan to take effect. The group is committed to helping customers improve energy efficiency and reduce carbon footprints by providing innovative and sustainable solutions. The group has obtained a patent for a floating platform electric vehicle charging station from the Intellectual Property Department of the Hong Kong Special Administrative Region Government. The business cooperation under the MOU is expected to generate synergies in the sales of electric bicycles and the application of the group's charging technology, while the group can also expand its market to other Asian countries beyond its current major bases in China and Hong Kong. To promote business expansion under the group's growth strategy, the group will actively seek business expansion opportunities and explore debt and/or equity financing opportunities to meet the CAPEX requirements of the projects. The MOU outlines key commercial terms in a non-binding manner. Xinneng Engineering and Key Action agree to reach a binding final agreement through sincere negotiations. The company will issue a separate announcement regarding the binding final agreement in a timely manner in accordance with the listing rules. Shareholders and potential investors of the company are advised to exercise caution when trading the company's securities