Shandong Hi-Speed New Energy Group Limited (SHNE, 01250) and its parent Shandong Hi-Speed Holdings Group Limited (SDHG, 00412) jointly announced that on 31 March 2026, their subsidiary Heze Shandong Hi-Speed Wind Power Co., Ltd. (Heze SH) signed an engineering-procurement-construction (EPC) contract valued at RMB1.20 billion with a consortium comprising China Construction Second Engineering Bureau (CC2 Bureau) and China Power Construction Group Guiyang Survey & Design Institute.

The contract covers a 287.5 MW onshore wind power project in Dingtao District, Heze City, Shandong Province. The scope includes full survey, design, equipment procurement, construction, installation, commissioning and final acceptance over a 596-day period. The fixed all-in price is set at RMB4.1649 per watt, subject to adjustment only for changes in national tax policy.

Payment terms feature staged disbursements: an advance representing 10% of main equipment costs and 20% of the balance of contract value; progress payments linked to design milestones, equipment delivery, and construction outputs; and quality-warranty guarantees of 10% on main equipment (via bank guarantee) and 3% on other works.

Financing will come from SHNE’s internal resources and bank borrowings, and the completed facility will be owned and operated by Heze SH.

Regulatory classification differs for the two Hong Kong-listed groups. For SHNE the deal constitutes a major transaction (percentage ratios >25% but <100%) under Chapter 14 of the Listing Rules, triggering announcement, circular and shareholder approval requirements. SDHG, holding 56.97% of SHNE, has provided written shareholder consent, allowing SHNE to dispense with a general meeting under Rule 14.44. For SDHG the contract is a discloseable transaction (percentage ratios >5% but <25%), requiring only public disclosure.

Management highlighted that the project strengthens both groups’ presence in Shandong’s clean-energy market, aligns with China’s “dual-carbon” goals and broadens future revenue streams.