Announcement on the Signing of Engineering Construction Contracts by Subsidiary and Related Party Transactions

Securities Code: 000695

Securities Abbreviation: Binhai Energy

Announcement No.: 2026-062

Tianjin Binhai Energy Development Co., Ltd.

Announcement on the Signing of Engineering Construction Contracts by Subsidiary and Related Party Transactions

The Company and all members of its Board of Directors guarantee the content of the information disclosed is true, accurate, and complete, and that there are no false records, misleading statements, or major omissions.

I. Overview of the Transaction

1. Following a bidding process, Inner Mongolia Xiangfu New Energy Co., Ltd., a subsidiary of Tianjin Binhai Energy Development Co., Ltd. (hereinafter referred to as the "Company"), has determined to sign engineering construction contracts, including the general contracting of the front-end part of the 100,000 tons/year anode material phase II project and the procurement and construction of a desulfurization and purification system, with related parties Yanghu Engineering Technology Co., Ltd. and Yanghu Engineering Co., Ltd. The estimated total contract price for each contract is RMB 124.28 million (including tax).

2. In accordance with the "Equity Listing Rules of the Shenzhen Stock Exchange," the transaction counterparties are companies controlled by Yanghu Holdings Co., Ltd., an entity acting in concert with the Company's controlling shareholder. This transaction constitutes a related party transaction. This transaction does not constitute a major asset restructuring or an asset restructuring and listing as defined by the "Measures for the Administration of Major Asset Restructuring of Listed Companies."

3. On August 7, 2026, the Company held the 33rd meeting of the 11th Board of Directors, which approved the "Proposal on the Signing of Engineering Construction Contracts by the Subsidiary and Related Party Transactions" with 6 votes in favor, 0 votes against, and 0 abstentions. Related directors Mr. Zhang Yingwei, Mr. Han Qinliang, and Mr. Yang Lu recused themselves from voting. This proposal was also reviewed and approved by the 21st meeting of the Special Committee of Independent Directors of the 11th Board of Directors with 3 votes in favor, 0 votes against, and 0 abstentions. It still requires approval from the shareholders' meeting, and related parties with an interest in this related party transaction will recuse themselves from voting.

II. Basic Information of the Transaction Counterparties

(I) Basic Information of Yanghu Engineering Technology Co., Ltd.

1. Registered Capital: RMB 900 million

2. Legal Representative: Tang Mingwei

3. Main Business: Construction engineering, design, and management services, etc.

4. Address: Room 2-2001, Vientiane Tiancheng Business Plaza, No. 15 Yuhua West Road, Xiangdu District, Shijiazhuang City, Hebei Province

5. Financial Data (Audited): As of December 31, 2025, total assets were RMB 18,639.393 million, net assets were RMB 7,453.58 million; revenue was RMB 9,004.77 million, and net profit was RMB 2,512.24 million.

6. Relationship with the Listed Company: The transaction counterparty is indirectly controlled by Yanghu Holdings Co., Ltd., an entity acting in concert with the Company's controlling shareholder. It is an enterprise controlled by the actual controller. According to the relevant provisions of the "Equity Listing Rules of the Shenzhen Stock Exchange," it is a related legal person to the Company.

7. The financial status and operating conditions of the transaction counterparty are in good condition, and it can fulfill its responsibilities and obligations as stipulated in the contract. According to the inquiry on the China Enforcement Information Disclosure Network (http://zxgk.court.gov.cn/), it is not a dishonest judgment debtor.

(II) Basic Information of Yanghu Engineering Co., Ltd.