On December 16th, 2022, Beijing Forever Technology (300365.SZ) received the "Bid Notice" from the Tenderer and the Tendering agency and was confirmed to be the winning bidder of the "Leyuan Guanzhou Phase I Agricultural Photovoltaic Power Station EPC Bidding Project" as a consortium with Shaanxi Eastern Electric Engineering Co., Ltd. (hereinafter referred to as "Shaanxi Eastern") as the other party. On December 26th, 2022, the consortium composed of Beijing Forever Technology and Shaanxi Eastern signed the "Design, Procurement, Construction EPC General Contract Project of the Leyuan Guanzhou Phase I Agricultural Photovoltaic Power Station Project in Wangmo County" (hereinafter referred to as the "Original Contract") with Wangmo Jinger New Energy Co., Ltd. (hereinafter referred to as "Wangmo Jing'er" or "Party A"). The estimated investment in the project is about RMB 518,980,000.
After the original contract was signed, due to the failure of Party A to raise project funds in a timely manner, the project has not been implemented. In order to control the company's operating risks and in a responsible manner towards all shareholders, after reaching any agreement through consultations, the consortium composed of Beijing Forever Technology and Shaanxi Eastern recently signed the "Agreement on the Cancellation of the Design, Procurement, and Construction EPC General Contracting Project of the Leyuan Guanzhou Phase I Agricultural Photovoltaic Power Station Project in Wangmo County" (hereinafter referred to as the "Cancellation Agreement") with Wangmo Jing'er. Starting from the date when the Cancellation Agreement becomes effective, the original contract will be cancelled and cooperation between the two parties will be terminated.
As of the date of this announcement, the original contract has not been executed, and the company has not recognized any income from it. The cancellation of this contract will not have a significant impact on the company's current business performance and financial status. The company will continue to do a good job in market development, on-going project execution, risk control, and promote the sustainable and healthy development of the company's business.