HXTL's subsidiary obtains 200 million yuan in policy-based financial instruments for the 350MW solar thermal power project in Qinghai

According to the Zhitong Finance APP, HXTL (01085) announced that its indirectly held subsidiary, Zhejiang Zhongguang New Energy Technology Co., Ltd., which holds a 51% stake, has signed a loan agreement with Jinyin New Policy Financial Instruments Co., Ltd. on October 14, 2025, involving an amount of RMB 200 million in policy financial instruments. The loan will be managed by the Zhejiang Branch of the Export-Import Bank of China and is specifically intended to supplement the capital requirements for the 350MW tower solar thermal power project to be constructed by Qinghai Zhongkong Solar Power Co., Ltd., a wholly-owned subsidiary of Zhejiang Zhongguang.

This project is located in Delingha City, Haixi Prefecture, Qinghai Province, People's Republic of China, with a total scale of 350 megawatts, utilizing tower solar thermal power technology. The project is characterized by strong power generation stability and excellent energy storage capabilities. Upon completion, it will provide stable and reliable clean electricity to the Qinghai power grid, becoming an important demonstration project for building a new power system and significantly enhancing the group's industry position in the field of solar thermal power generation.

The board of directors believes that this loan will supplement the capital for the project, ensuring its smooth implementation and aligning with the group's strategy of deepening its commitment to renewable energy. The project is expected to generate stable long-term income, enhancing the group's market reputation and competitiveness in the field of solar thermal power generation. The terms of the loan are normal commercial terms and are in the overall best interests of the company and its shareholders