Gelonghui Investment (02886.HK) announced that Shenzhen Binhai Energy Co., Ltd. (“Shenzhen Binhai Energy”), a wholly-owned subsidiary of the company, and Hebei Construction Investment Xinneng Supply Chain Management Co., Ltd. (“Hebei Construction Investment New Energy”), a wholly-owned subsidiary of Xintian Green Energy (SH.600956, HK.00956), signed a natural gas purchase and sale contract. Hebei Construction Investment Xinneng will supply sufficient natural gas to Shenzhen Binhai Energy at competitive prices to support the Group's gas business in mainland China.

The overall design handling capacity of Xintian Green Energy's liquefied natural gas receiving station in Tangshan, Hebei is of great practical significance in optimizing the energy structure of the Beijing-Tianjin-Hebei region. The first phase of the project has a handling capacity of 5 million tons/year and was completed and put into operation in 2023.

The Group's connection to the LNG terminal will help enrich the Group's natural gas resource pool in North China, thereby enhancing the Group's gas source coordination and scheduling capabilities, giving full play to the Group's positive role in supply assurance and emergency peak shifting in the Beijing-Tianjin-Hebei region, and facilitating the Group to further develop and serve the natural gas market in the Beijing-Tianjin-Hebei region. The company believes that the signing of this purchase and sale contract will further optimize the Group's upstream industrial chain, reduce procurement costs and enhance profitability. The Group and Hebei Construction Investment Xinneng will also use this cooperation as an opportunity to establish long-term comprehensive and deepening cooperation based on their respective resource advantages to achieve a high level of mutual benefit.