Heshun Electric announced that it has signed a supplementary agreement with Hunan CRRC Intelligent Mobility Technology Company and Sichuan CRRC Railway Investment Rail Transit Company to change the parties to the procurement contract for 76 hydrogen fuel cell systems signed in March 2024. The total contract amount of 108.3027 million yuan remains unchanged. Under the supplementary agreement, units 1 through 10 will continue to be ordered and paid for by CRRC Intelligent Mobility, while units 11 through 76 will now be ordered and paid for directly by Sichuan CRRC Railway Investment. Sichuan CRRC Railway Investment is a subsidiary in which CRRC Intelligent Mobility holds a stake. The original procurement model was for CRRC Intelligent Mobility to purchase the systems centrally and then supply them to Sichuan CRRC Railway Investment. The company said this change will not have a material impact on its performance or operating condition, and the matter does not need to be submitted to the board of directors or shareholders for approval.
Suzhou Industrial Park Heshun Electric Co LtdContract parties changed but total amount unchanged; company states no material impact.
