Limited partner interests affiliated with Chengdu Express (01785) to invest 150 million yuan in subscription funds

Zhitong Finance App News, Chengdu Express (01785) issued an announcement. On August 31, 2026, the Company's subsidiary Energy Development Company (as a new subordinate limited partner) signed a partnership agreement with Chengdu Trading Excellent Fund Company (as fund manager and general partner), Chengdu Jiaotong Investment Co., Ltd. (as an inferior limited partner), other general partners, priority limited partners and subordinate partner limited partners.

As an additional junior limited partner, the Energy Development Company pledged an investment of RMB 150 million to the fund, with a pledge ratio of 15%; Xiamen International Trust, Jiaozi Science and Industry M&A Fund, and Chengdu Weijiang, as additional priority limited partners, pledged RMB 200 million, RMB 200 million, and RMB 100 million respectively, to the fund, with pledged investment ratios of 20%, 20% and 10% respectively. After the transaction is completed, the Company's investment in the fund will be recorded as a long-term equity investment. The fund's profit will be recognized as the company's investment income on an annual basis based on the company's shareholding ratio in the fund. The fund will not become a subsidiary of the Company, and the fund will not be included in the scope of the Company's consolidated statements.

The energy development company is actively laying out a new energy circuit to rapidly expand the “power supply+micro grid”, “hub micro grid” and “park micro grid” business. The subscription of the fund's limited partner rights will help energy development companies build specialized fund clusters in the field of new energy, continue to promote the development of new energy businesses, and further expand their industrial layout in the field of power supply and energy supplementation.

The fund is in line with Chengdu's green, low-carbon and “carbon peak” policy guidelines, and is consistent with the medium- to long-term strategic plans of higher authorities, helping the Group to seize development opportunities in the new energy industry and promote industrial transformation and upgrading. The fund will focus on investing in high-quality assets such as photovoltaic power plants and energy storage, give full play to the advantages of fund leverage and market-based resource integration, build a “micro-grid energy” industrial ecosystem, and promote the improvement of the company's microgrid scenario layout and the company's new energy industry chain. Sichuan Province and Chengdu have introduced systematic support policies for the photovoltaic and energy storage industries. The fund can be used as a financial instrument carrier for policy implementation, exert “capital+industry” synergy effects, accelerate the strengthening of key links in the industrial chain, and enhance the long-term competitiveness of state-owned capital in the new power system and green and low-carbon transformation. On this basis, energy development companies can further expand capital leverage and efficiently promote large-scale expansion with an asset-light operating model of “small capital leverages large projects”, so that energy development companies can quickly seize scarce power grid access point resources and high-quality industrial users within a limited market window period with far less capital investment than fully self-built ones, and quickly bring their business volume to the forefront of the industry.