The board of directors of Shandong Hi-Speed New Energy Group Limited announced that on 7 September 2023, the Group received a written notice of bid-winning from CHD Tendering Co. Ltd. in relation to a Company's indirect wholly-owned subsidiary's bid-winning for the project of 800 MW Wind Power Plants Entrusted Operation and Maintenance Services of New Energy Branch of Huadian Jiangsu Energy Co. Ltd. (the Bid-winning Project) of China Huadian Corporation Ltd. The Bid-winning Project is located in Jiangsu Province, the People's Republic of China, with a total of six wind power plants, which has an existing capacity of over 470 megawatt (MW) and subsequent additional capacity may reach 330 MW.

The scope of entrusted operation and maintenance services provided by the Group for the Bid-winning Project includes: operation and maintenance management services for the booster station, wind turbines and related operational equipment; operation, monitoring, inspection, record-keeping and defect rectification of the on-site equipment of the wind power plants as well as all the ancillary production and auxiliary production facilities and living facilities; and maintenance, repair, defect rectification and regular work of the equipment of the whole wind power plants, and provision of transportation to meet the needs of on-site work. This Bid-winning Project will become the largest MW wind power plant entrusted operation and maintenance project acquired by the Group through self- development after the Group has been empowered by Shandong Hi- Speed Group Co. Ltd., and at the same time, the scale of entrusted operation and maintenance services to be provided by the Group will exceed 2,000 MW.

Winning this bid represents the market's affirmation on the powerful and strong empowerment with resources by the controlling shareholder and on the Group's efforts for years in the field of renewable energy, as well as the recognition on the Group's basic capabilities of operation and maintenance for its wind power and photovoltaic power assets. Through constantly strengthening the fundamentals of operation and maintenance for its wind power and photovoltaic power assets, the Group continues to provide advanced, standardised, and diversified operation and maintenance services of new energy assets, and has established a market brand based on its extensive and professional experience for years in operation and maintenance. For recent years, the Group has been providing operation and maintenance services of new energy assets for the large-scaled power energy groups, and winning this bid fully demonstrates the achievements of the Group's further expansion and development in the segment of the provision of operation and maintenance services of new energy assets for the large-scaled power groups.