On November 13, Junda announced the termination of Oman's annual 5G W high-efficiency battery production base project . "Influenced by external geopolitical and policy factors, the company decided to terminate the Oman project and has negotiated with the SOHAR FREE ZONE LLC to terminate the Land Lease Contract, which will not adversely affect the company."
As of the disclosure date of this announcement, the Oman Battery Project has not used the raised funds of H shares for 9. The company intends to change the use of such raised funds for the reasons for the termination of the project." Junda explained from three aspects of international trade, regional security and policy changes:
since the second half of 2025, international trade frictions have intensified and tariff policies have been continuously adjusted; At the end of February 2026, a large-scale military conflict broke out in the Middle East region and has continued to this day . The regional security situation has adversely affected the stability of logistics channels, supply chain support capabilities, future personnel safety and long-term stable operation in the region where the project is located; The construction progress of the local photovoltaic main and auxiliary materials supporting system
in Oman is also less than expected , and the feasibility and progress of the implementation of this project are seriously affected;
In addition, in October 2026, the Ministry of Commerce and the Ministry of Science and Technology announced that they would revise the catalogue of prohibited and restricted export technologies. Addition
At the same time, Junda shares also admitted that during the implementation of the project, the company actively docked potential investors and partners to explore joint promotion programs; after several rounds of consultation, the relevant arrangements failed to land. As of the disclosure date of this announcement, the above projects have not yet started substantive construction work . Changes in
the project also seem to be emerging early. On June 14,
2024, Junda announced that it plans to build a high-efficiency photovoltaic cell manufacturing plant with an annual output of 10g W in Oman, with an investment of about 700 million US dollars. The project is divided into two phases, with an annual capacity of 5G W; On the evening of July 25 of the same year, Junda announced that it would invest about 280 million US dollars in the first phase to build 5G W battery capacity, which is expected to be completed in 2025; On October 31 of the same year, Junda further disclosed that the company signed the Land Lease Contract with the SOHAR FREE ZONE LLC (Sohar Free Trade Zone Limited), covering an area of 18.
At the same time, Junda also actively promoted the listing of Hong Kong stocks to raise funds. On May 8, 2025, the company was listed on the Hong Kong Stock Exchange, raising 75% (about 10%
) of the total amount of HK $1.434 billion. However, the progress of the project has fallen into a state of continuous stagnation."In the first half of 2025, the international trade situation and tariff policies were complex and changeable, which had a certain impact on the company's overseas investment progress,
" Junda said in its semi-annual report in 2025, and it would prudently promote the planned Oman 5GW battery project.
In the semi-annual report of 2026, Junda once again said: "Influenced by the complex and changeable international trade situation and tariff policy, and the rising geopolitical uncertainty in the Middle East, the company's planned annual 5G W battery production base project in Oman has been affected.". The company is actively looking for other investors and partners to explore feasible plans to jointly promote the project, dynamically optimize the project planning according to the actual situation, and prudently promote the implementation of the project.
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