Shandong Hi-Speed New Energy Group Limited announced that on 1 December 2023, the Group received the Notice on the Annual Construction Plan for Guaranteed Grid Connection of Wind Power and Photovoltaic Power Generation of Shanxi Province in 2023. After the announcement on the website and the review and approval of the Shanxi provincial government, a Company's joint venture has obtained the development right of the project of Jingxu Yaodu 200 Megawatt Photovoltaic Power Plant in Linfen, Shanxi Province, the People's Republic of China (the Project). The Group has established its presence in the province for years, and through continuous exploration and upgradation of the industrial cooperation and development models, the Group has successfully obtained the Project with its continuous deep cultivation in the region.

The Project is one of the seven single photovoltaic power plant projects of or over 200MW included in the List of Projects for Guaranteed Grid connection of Wind Power and Photovovoltaic Power Generation of Shandong Province in 2023. The Project represents the result of the strong resources empowerment and support from Shan Dong Gao Su Ji Tuan You Xian Gong Si (Shandong Hi-Speed Group Co. Ltd.) ("SDHS Group") after the Group became its member, which enabled the Group to stand out from the fierce competition in the market.

The successful obtaining of the Project demonstrates that the Group has laid a solid foundation for its sustainable development in Shanxi Province. The construction of the Project will benefit the accumulation of energy supply and improve the system power structure in the region, thereby promoting the sustainable development of the local economy. As a member of a state-owned enterprise in Shandong Province and with the support of SDHS Group, successfully obtaining the development right of the large-scale photovoltaic project in Shanxi Province is also a full affirmation of the Group's business advantages in the entire process of "investment, financing, technology, construction and operation" in the new energy field, demonstrating the Group's strong investment capability, development performance, industrial strength, ability to perform in good faith as well as its good reputation outside the province.