Zhengtai Electric intends to purchase photovoltaic modules of no more than 10.3 billion yuan from Zhengtai Xinneng, a related party.

Chint Electric (SH: 601877) issued a notice. In 2023, the Company and its holding subsidiaries (including but not limited to Zhengtai Anneng) and their subsidiaries, Zhejiang Zhengtai New Energy Development Co., Ltd. and its subsidiaries and other holding subsidiaries of the company) purchase photovoltaic modules from Zhengtai New Energy Technology Co., Ltd. and its subsidiaries with a total transaction amount of no more than 10.30 billion yuan.

Zhengtai Xinneng is a holding subsidiary of Zhengtai Group Co., Ltd., the controlling shareholder of the company, and is a related party of the company.

Zhengtai Electric said that Zhengtai Xinneng is a manufacturer focusing on photovoltaic modules, with reliable product quality and familiarity with the company's business, which can quickly respond to the company's needs. With the rapid development of the Company's new energy business and the rapid growth of the demand for PV module procurement, it is conducive to ensuring the stable operation of the Company's supply chain by giving full play to the technical advantages and professional experience of Chint New Energy in the field of PV module manufacturing. The above daily related party transactions are normal commercial activities conducted to meet the daily operation needs of the Company and its subsidiaries, and are continuing and recurring related party transactions between the Company and Chint New Energy. The relevant transactions adhere to the principles of marketization, fairness and voluntariness, are priced at fair market prices, and are treated equally with other business enterprises, which will not affect the independence of the Company's businesses. There is no situation that damages the interests of the company and its shareholders, especially the minority shareholders, and there is no adverse impact on the company's current and future financial situation and operating results. All businesses of the Company are independent of the above related parties, and the business transactions with the above related parties do not constitute the Company's dependence on the related parties.