Securities Code: 002911 Securities Abbreviation: Foshan Energy Announcement No.: 2026-021
Announcement on Increasing the Estimated Limit of Daily Connected Transactions
The Company and the members of its Board of Directors guarantee the content of this information disclosure is true, accurate, and complete, and that there are no false representations, misleading statements, or material omissions.
I. Basic Situation of Daily Connected Transactions
(I) Overview of Daily Connected Transactions
Foshan Energy Group Co., Ltd. (hereinafter referred to as the "Company") held the 28th meeting of the 6th Board of Directors on March 23, 2026, and reviewed and approved the "Proposal on Increasing the Estimated Limit of Daily Connected Transactions." Based on daily operational needs and the requirements of actual business development, the meeting agreed that the Company and its subsidiaries would increase their estimated limit for daily connected transactions with Wing Wah International Energy Trading Co., Ltd. (hereinafter referred to as "Wing Wah International Energy Trading"), Sichuan Wing Wah Huizong Energy Co., Ltd. (hereinafter referred to as "Sichuan Wing Wah Huizong Energy"), and Wing Wah International Energy Trading (Shenzhen) Co., Ltd. (hereinafter referred to as "Wing Wah International Energy Trading (Shenzhen)") by a total not exceeding RMB 330 million. The term for these daily connected transactions is from the date of approval by the 2025 Annual Shareholders' Meeting to December 31, 2026. The estimated limits for other daily connected transactions remain as previously approved. (The above amounts are exclusive of tax.)
During the review of the above proposal by the Company's Board of Directors, connected directors Mr. Huang Weiyi and Mr. Zhou Hengxiang abstained from voting. This proposal was submitted to the Company's 6th Independent Directors' Special Committee meeting for review prior to the Board meeting, and all independent directors unanimously agreed to submit this matter to the Board of Directors for review.
On March 6, 2026, the Company held the 27th meeting of the 6th Board of Directors and approved the "Proposal on Adding the Estimated Limit for Daily Connected Transactions in 2026." Based on daily operational needs and the requirements of actual business development, the meeting agreed that the Company and its subsidiaries would add an estimated limit for daily connected transactions with Wing Wah International Energy Trading (Shenzhen) totaling no more than RMB 170 million. For details, please refer to the relevant announcements published by the Company on March 7, 2026, in the China Securities Journal, Securities Times, Securities Daily, Shanghai Securities News, and on the Juchao Information Network (www.cninfo.com.cn).
In accordance with the "Shenzhen Stock Exchange Stock Listing Rules," "Shenzhen Stock Exchange Listed Company Self-Regulatory Guidelines No. 1 - Standardized Operation of Main Board Listed Companies," and other relevant laws and regulations and the "Company Articles of Association," after consolidating the amounts of the connected transactions, this matter of daily connected transactions needs to be submitted to the Company's Shareholders' Meeting for review, and the connected shareholder Wing Wah Gas Investment Co., Ltd. needs to abstain from voting.
(II) Categories and Amounts of Increased Estimated Daily Connected Transactions