According to Zhitong Finance App, Xiehe New Energy (00182) announced that on October 28, 2026 (Hong Kong time), Red River (our subsidiary) signed a sale agreement with the buyer Uva Creek Solar Holdings, LLC and ESI Energy to sell 100% of the shares in the target project companies Gail Mountain and Grape Creek to the buyer, with a total purchase price of about US$29.98 million (approximately RMB 201 million).

The Group has always been committed to vigorously promoting development work, and is actively promoting the value transformation of existing development results and the pace of fund recovery to comprehensively improve the efficiency of the use of its own funds. Furthermore, the Group is also actively expanding diversified cooperation channels to strengthen strategic cooperation with large international companies.

The board of directors believes that this sale is in line with the Group's strategy of improving the efficiency of capital use and providing steady capital support for long-term sustainable development. The sale not only enabled the Group to monetize and achieve relevant investment value, but also further enhanced the Group's financial flexibility and provided solid financial support for its continued and future development. The Board of Directors believes that the terms of the sale are fair and reasonable and conform to the overall interests of the Company and shareholders.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.