China Gas (00384) adheres to the strategic direction of a “green city operator” to build a collaborative ecosystem of multi-energy and complementary energy systems and establishes a strategic cooperation agreement with Everweft Lithium Energy

Zhitong Finance App News, China Gas (00384) issued an announcement. The board of directors is happy to provide the company's shareholders and potential investors with the latest developments in the Group's business:

(1) Policies drive market opportunities, and large-scale and rapid development of energy storage businesses

Since this year, relevant state departments have intensively introduced a series of policies to deepen the market-based reform of new energy feed-in tariffs, comprehensively accelerate the construction of the electricity spot market, and promote the consumption and regulation of new energy sources, effectively driving the explosion of energy storage demand from industrial and commercial users. With its first-mover advantage and integration capabilities, the Group accurately grasped policy dividends, accelerated project implementation and market expansion, and achieved rapid large-scale development in this sector.

As of September 30, 2025, the Group's industrial and commercial energy storage business continued to show strong growth momentum. The total operating scale reached 617.7 megawatt-hours (MWh), and the cumulative contracted installed capacity reached 1.2 gigawatt-hours (GWh). The main projects are concentrated in Jiangsu, Zhejiang and Guangdong regions. Furthermore, in the current context of the increasing scale and degree of marketization of green power transactions, the Group actively applies artificial intelligence (AI) technology to improve the accuracy of electricity transactions, and integrates decentralized energy resources through innovative models such as virtual power plants, combined with the operation of energy storage projects, effectively broadening the profit channels for the new energy power business.

(2) Firmly establish a strategic direction and build a collaborative ecosystem

The Group adheres to the strategic direction of “green city operator”, responds positively to the national “double carbon” goal, integrates distributed photovoltaics, charging piles, biomass energy supply and energy saving services as the core, and relies on mature electricity sales businesses to strongly drive the integrated development of emerging business formats such as green power green license transactions and virtual power plants. It is committed to building a collaborative ecosystem with multiple complementary energy systems to provide customers with low-carbon and diversified integrated energy solutions.

Furthermore, on December 2, 2025, the company signed a strategic cooperation agreement with Huizhou Everweft Lithium Energy Co., Ltd. (Everweft Lithium) to formally establish a comprehensive and in-depth strategic partnership. The two sides will adhere to the principle of “complementary advantages, resource sharing, mutual benefit and win-win”, and work together to deepen layout in fields such as energy storage technology innovation, biomass technology application, and green and clean energy to jointly help the country achieve its “dual carbon” goal. Under the agreement, the cooperation between the two sides will focus on three core areas:

Technology research and development: Combining the Group's application scenarios in distributed energy, biomass and green low-carbon platforms for optical storage, combined with Everweft Lithium Energy's leading capabilities in overall battery solutions, we will jointly develop coupling technology between energy storage systems and biomass energy to promote the commercial application of low-carbon energy management platforms.

Project development and market expansion: The two sides plan to jointly develop projects in the fields of industrial and commercial energy storage, mobile energy storage, heavy truck power exchange, and zero-carbon parks, and gradually expand into overseas markets. According to the plan, the two parties will replace orders for 1 gigawatt-hour (GWh) batteries or DC-side products within one year, covering the Group's domestic and international energy storage projects. In the next three years, the Group will explore market opportunities in the fields of energy storage on the industrial and commercial user side, batteries for electric heavy trucks, mobile energy storage, etc., and provide considerable project requirements for cooperation and implementation between the two sides. These requirements will provide specific scenario support for the implementation of cooperation between the two sides.

Green energy ecosystem construction: The Group will provide comprehensive energy support such as biomass gas, steam and new energy power for Everweft Lithium Energy's production bases in Yunnan, Hubei and Malaysia.

This strategic cooperation is a combination of advantages of leading upstream and downstream enterprises in the new energy industry chain. In the future, the two sides will continue to deepen collaboration in the field of integrated energy, continuously expand the breadth and depth of cooperation, promote high-quality development of the new energy industry chain through technical collaboration and project co-construction, and inject new momentum into the global energy transformation.

The Group will closely revolve around the construction of a zero-carbon city (park) and carry out a systematic layout throughout the “source-network-load-storage” industry chain. Under the new situation of strong deployment of the country's “carbon peak and carbon neutrality” strategy, we strive to achieve collaborative supply and closed-loop management between various energy systems such as electricity, gas, heat, and cold through the operation of energy assets. The Group provides carbon measurement, energy saving and emission reduction services throughout the life cycle of buildings, and builds smart low-carbon industrial parks through digital management platforms, and continues to be digitally empowered to promote the effective integration of “Internet of Things” and “multi-energy coupling”. The purpose of this move is to gradually build a dual-carbon business ecosystem unique to the Group and implement the Group's corporate vision of being a “green city operator”.