Xinte Energy Co., Ltd. — Capital/Financing Update 2021

Sep 23, 2021

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XINTE ENERGY CO., LTD. 新特能源股份有限公司

(A joint stock company incorporated in the People’s Republic of China with limited liability) (Stock code: 1799)

VOLUNTARY ANNOUNCEMENT BUSINESS UPDATE ENTERING INTO THE STRATEGIC COOPERATION SALE AND PURCHASE AGREEMENT

This announcement is made by the board of directors (the “ Board ”) of Xinte Energy Co., Ltd. (the “ Company ”, together with its subsidiaries, the “ Group ”) on a voluntary basis to keep the shareholders and potential investors of the Company informed of the latest development of the Group.

On 22 September 2021, the Company, Xinjiang Xinte Crystal Silicon Hightech Co., Ltd. (新疆新特晶體硅高科技有限公司) and Inner Mongolia Xinte Silicon Materials Co., Ltd. (內蒙古新特硅材料有限公司), subsidiaries of the Company, entered into a polysilicon strategic cooperation sale and purchase agreement (the “ Strategic Cooperation Sale and Purchase Agreement ”) with Shuangliang Silicon Materials (Baotou) Co., Ltd. (雙良 硅材料(包頭)有限公司) (“ Shuangliang Silicon Materials* ”). Pursuant to the Strategic Cooperation Sale and Purchase Agreement, the Group shall sell a total of 82,200 tons of polysilicon to Shuangliang Silicon Materials during the period from January 2022 to December 2026, and the price of the orders shall be negotiated on a monthly basis.

Based on the price of polysilicon announced by the Silicon Industry Branch of China Nonferrous Metals Industry Association (中國有色金屬工業協會硅業分會), the total transaction amount under the Strategic Cooperation Sale and Purchase Agreement is approximately RMB17.468 billion (including tax).

Based on publicly available records and to the best knowledge of the Board having made due inquiries, as at the date of this announcement, the ultimate beneficial owner of Shuangliang Silicon Materials is Mr. Miao Shuangda, who, together with Shuangliang Silicon Materials, are independent of the Company and the connected persons of the Company. Accordingly, the transaction contemplated under the Strategic Cooperation Sale and Purchase Agreement does not constitute a connected transaction under Chapter 14A of the Rules Governing the

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Listing of Securities on The Stock Exchange of Hong Kong Limited (the “ Listing Rules ”). In addition, the above transaction is conducted in the ordinary course of business of the Company, and therefore does not constitute a notifiable transaction under Chapter 14 of the Listing Rules.

The Board believes that the entering into of the Strategic Cooperation Sale and Purchase Agreement will facilitate the stable sales of polysilicon products in the Group’s ordinary course of business, safeguard the daily operations of the Group, and is in line with the future development of the Group. It will also further enhance the Group’s position in the new energy industry. The Board hereby declares that no forecast or estimate has been made on the Group’s profit in relation to the entering into of the Strategic Cooperation Sale and Purchase Agreement.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.

By order of the Board Xinte Energy Co., Ltd. Zhang Jianxin Chairman

Xinjiang, the PRC 22 September 2021

As at the date of this announcement, the Board of the Company consists of Mr. Zhang Jianxin, Mr. Yin Bo and Mr. Xia Jinjing as executive directors; Mr. Zhang Xin, Mr. Huang Hanjie and Ms. Guo Junxiang as non-executive directors; and Mr. Cui Xiang, Mr. Chen Weiping and Mr. Tam, Kwok Ming Banny as independent non-executive directors.

• for identification purpose only

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