The board of directors of Binhai Investment Company Limited announced that Shenzhen Binhai Energy Co. Ltd. entered into a natural gas purchase and sales contract (the "Purchase and Sales Contract") with HCIG New Energy Supply Chain Management Co. Ltd. ("HCIG New Energy"), a wholly-owned subsidiary of China Suntien Green Energy Corporation Limited, pursuant to which, HCIG New Energy shall supply sufficient natural gas to Shenzhen Binhai Energy in support of the Group's gas business in the China Mainland at a competitive gas price.

Suntien Green Energy's LNG terminal in Tangshan, Hebei Province, with an overall design handling capacity of 12 million tonnes/year, is of great practical significance to optimisation of the energy structure in the Beijing-Tianjin-Hebei region. In particular, the first phase of such project, with a handling capacity of 5 million tonnes/year, was completed and put into operation in 2023. The linking between the Group and the LNG terminal will help enrich the Group's pool of natural gas resources in North China, thereby enhancing the ability of the Group to overall plan for and allocate its gas resources, enable the Group to play an active role in supply guarantee and emergency peak regulation in the Beijing-TianJ-Hebei region, and facilitate the Group to further develop and serve the natural gas market in the Beijing-Tian Jin-Hebei region.

The Company believes that the entering into of the Purchase and Sales Contract will further optimise the Group's upstream industry chain, reduce procurement costs and enhance the profitability. The Group and HCIG New Energy will also take this cooperation as an opportunity to rely on their respective resource advantages to establish a comprehensive and deepened cooperation in the long term and to achieve a high level of mutual benefits.