DATANG POWER (00991) announced that on April 28, 2026, the company entered into a capital contribution agreement with Jiangsu Provincial Guoxin Group Co., Ltd. and Ordos New Energy Development and Utilization Co., Ltd. Under this agreement, the parties have consented to establish a joint venture through cash investments for the development and construction of the Mongolia-to-Jiangsu power transmission project. The joint venture will have a registered capital of RMB 10 billion. DATANG POWER will contribute RMB 5.1 billion, representing a 51% stake in the venture. Jiangsu Guoxin Group will invest RMB 3.4 billion for a 34% share, while Ordos New Energy will provide RMB 1.5 billion, accounting for a 15% ownership.

The project focuses on establishing a major energy supply base, prioritizing desert, Gobi, and other arid regions. This initiative aligns with national strategic directives, supporting China's objectives to achieve peak carbon emissions and carbon neutrality. It also promotes the transition to clean and low-carbon energy sources while enhancing the nation's energy security. Leveraging the new energy and coal resources in Inner Mongolia's Kubuqi Desert and surrounding areas, alongside Jiangsu Province's economic strength and industrial vitality, the joint development of the Mongolia-to-Jiangsu power transmission project will fully utilize Inner Mongolia's role as a crucial national energy base. This will aid Jiangsu Province in its energy transition and low-carbon development efforts.

The development and construction of the project are consistent with the company's strategic vision. It is expected to further strengthen the group's competitive position in Inner Mongolia, solidify its foundation for large-scale and synergistic development in the region, and drive high-quality growth for the company in Inner Mongolia. Furthermore, establishing a local project company is necessary for the initiative, which will facilitate efforts to secure lead development rights for other base projects in Inner Mongolia. This approach will ensure the smooth, efficient, and compliant advancement of the Mongolia-to-Jiangsu power transmission project. Additionally, the project will enable the rapid expansion of the group's new energy development scale and help consolidate and expand its power supply market in Jiangsu Province.