Nandu Power (300068.SZ): Proposes to Transfer 100% Equity of Wholly-owned Subsidiary Huapo Renewable Resources

Gelonghui, March 12 — Nandu Power (300068.SZ) announced that, in accordance with strategic development needs, to adjust industry and product structure, fully focus on AIDC lithium battery energy storage, promote the return of operating funds, achieve strategic focus, improve the integrated layout of the lithium industry, enhance technological and market competitiveness, and drive steady performance improvement and long-term value growth, Zhejiang Nandu Power Co., Ltd. plans to transfer 100% equity of its wholly-owned subsidiary Anhui Huabo Recycling Resources Technology Co., Ltd. (referred to as “Huabo Recycling Resources” or “the Target Company”), which is engaged in lead recycling, to Anhui Houji Lianeng Operation Management Partnership (Limited Partnership) (referred to as “Houji Lianeng” or “the Buyer”). According to the valuation report and after negotiations, the buyer will acquire 100% equity of Huabo Recycling Resources at a price of 1.415 billion yuan.

As of the signing date of the agreement, the company has provided guarantees totaling approximately 328 million yuan to Huabo Recycling Resources, and Huabo Recycling Resources has provided guarantees of 590 million yuan to the listed company and its subsidiaries. After the completion of this transaction, all guarantees are to be解除 by June 30, 2026, with the guarantee解除 by the listed company to the target company taking priority over the guarantee解除 by the target company to the listed company. After the transaction, the company’s financial support to Huabo Recycling Resources will amount to 1.15 billion yuan. Huabo Recycling Resources shall accrue interest at an annual rate of 3.5% (simple interest) on the principal unpaid balance of the above financial support from the date of the business registration change of the equity, and shall pay the accrued interest in full at the end of each natural quarter.

Preliminary estimates indicate that upon completion of this transaction, the net profit attributable to shareholders of the listed company in 2026 will increase by approximately 83 million yuan, and the owner’s equity attributable to shareholders will increase by approximately 83 million yuan. These figures are unaudited, and the final impact on the company’s financial data shall be subject to the annual audit results by the certified public accountant.