The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. RelyEZ Energy Storage Technology Co., Ltd. 深圳市遠信儲能技術股份有限公司 (A joint stock company established in the People's Republic of China with limited liabi ...

The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Application Proof, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Application Proof. Application Proof of RelyEZ Energy Storage Technology Co., Ltd. 深圳市遠信儲能技術股份有限公司 (the "Company") (A joint stock company established in th ...

Group 1 - Tesla Inc. reported a total of 418,000 vehicle deliveries in Q4 2025, which was characterized as a better-than-feared reaction from investors despite lagging vehicle deliveries [1][3] - The company achieved record-breaking performance in energy storage with 14.2 GWh deployed in Q4 2025, contributing positively to its overall performance [3][4] - For the full year 2025, Tesla produced 1,654,667 vehicles and delivered 1,636,129 units, with the Model 3/Y being the primary growth driver [4] Group 2 - Truist analyst William Stein lowered Tesla's price target to $439 from $444, maintaining a Hold rating on the shares [1] - The investment thesis is shifting towards Tesla's AI initiatives, particularly Full Self-Driving (FSD), which are now seen as key drivers of long-term cash flow and stock valuation [2] - The energy storage business achieved a total of 46.7 GWh in deployments for the entire year, indicating substantial scale across both automotive and energy sectors [4]

Summary of Conference Call on China Energy Storage System (ESS) Market Industry Overview - The conference call focused on the **China Energy Storage System (ESS)** market and its interaction with **US policy**, particularly the **Inflation Reduction Act of 2022 (IRA)** and the **One Big Beautiful Bill Act (OBBBA)** [1][2][3] Key Points and Arguments US Policy Impact - The IRA established a framework for tax incentives in the US ESS sector, primarily through the **Investment Tax Credit (ITC)** and the **Production Tax Credit (PTC)**, with credits ranging from **6% to 30%** depending on compliance with wage and apprenticeship standards [1] - The OBBBA, enacted on **July 4, 2025**, introduces curtailments for ESS, including accelerated phaseouts and **Prohibited Foreign Entity (PFE)** restrictions, which will impact tax credits for projects starting construction after **2033** [1][2] Asymmetric Impact on ESS - The OBBBA imposes asymmetric constraints on ESS tax incentives, particularly affecting projects linked to PFEs, which include entities from countries like China [2] - The ITC has stringent recapture provisions that can jeopardize credits if non-compliant components are integrated post-construction, while the PTC offers greater flexibility in managing sourcing [2][3] Short-term and Long-term Strategies - In the short term, ESS firms are favoring the PTC to navigate stringent FEOC restrictions associated with the ITC [3] - The market is witnessing a surge in **front-loaded shipments** as developers aim to capitalize on IRA provisions before stricter FEOC restrictions take effect [3] - Solutions to navigate FEOC constraints include collaborations, such as **Tesla's partnership with CATL** for battery production in the US, and **Canadian Solar's restructuring** to maintain tax-credit eligibility [3] Compliance and Manufacturing Strategies - ESS firms are exploring offshore manufacturing to circumvent PFE designations while maintaining access to production-linked credits [2][3] - The eligibility for tax credits remains contingent on **Material Assistance Cost Ratio (MACR)** calculations, which could trigger ineligibility if thresholds are exceeded [2] Additional Important Content - The call highlighted the **complexity of FEOC rules** and the potential convergence of PTC restrictions toward ITC-like stringency, which could diminish credit availability for ESS unless domestic manufacturing scales sufficiently [5] - The discussion emphasized the need for rapid domestication of supply chains to mitigate geopolitical dependencies and compliance costs amid ongoing supply-chain disruptions [1][5] Conclusion - The conference call provided insights into the evolving landscape of the ESS market in China, particularly in light of US policy changes that create both challenges and opportunities for manufacturers and developers in the sector. The emphasis on compliance, strategic partnerships, and adaptive manufacturing practices will be crucial for navigating the regulatory environment and sustaining growth in the ESS market.

Core Insights - Renewable Properties has increased its corporate capital facility by $40 million to a total of $120 million, with funds managed by AB CarVal, to secure new project opportunities and expand into new markets [1] - The additional funding reflects AB CarVal's confidence in Renewable Properties' disciplined execution and strategic growth plans, particularly in the renewable energy sector [1] - Renewable Properties currently has over 1.7 GW of solar and energy storage projects under development across 17 states, with more than 300 MW under construction or operational [1] Company Developments - The partnership with AB CarVal has been ongoing since 2020, with increased commitments in 2022 and 2023, indicating a strong relationship and mutual confidence in the company's growth [1] - The new capital will allow Renewable Properties to diversify its portfolio into more states and new technology sectors, including powered land for edge data centers [1] - The company aims to drive energy forward for local communities, despite the sunset of Federal tax credits, and is experiencing significant demand in various renewable energy markets [1] Market Context - The current market environment presents compelling opportunities for skilled operators in the renewable energy sector, which Renewable Properties is well-positioned to capitalize on [1] - AB CarVal has a strong track record in energy transition investments, having deployed over $6 billion since 2017, and manages approximately $20 billion in assets [1] - Renewable Properties was founded in 2017 and collaborates with various stakeholders, including communities, developers, landowners, utilities, and financial institutions [1]

Core Insights - Ormat Technologies, Inc. has commenced commercial operations of its Arrowleaf solar and battery energy storage project in California, marking a significant milestone in its growth strategy [1][9] Group 1: Arrowleaf Project Overview - The Arrowleaf project enhances Ormat's operating portfolio to approximately 1.7 gigawatts (GW) and signifies its entry into hybrid solar-plus-storage projects, featuring a 42-megawatt (MW) solar generation capacity and 35 MW/140 MWh of energy storage [2][9] - The project operates under a long-term tolling agreement with San Diego Community Power, providing clean energy to nearly one million customers and solidifying Ormat's presence in California [3][9] Group 2: Market Context and Growth Potential - The U.S. energy storage market is projected to grow at a compound annual growth rate (CAGR) of 29.1% from 2025 to 2034, indicating significant opportunities for companies like Ormat Technologies [4] - Ormat is developing six additional energy storage projects across California, Texas, and New Jersey, with a combined capacity of 385 MW/1,300 MWh, contributing to a nationwide project pipeline of roughly 2.9 GW/10.7 GWh [6] Group 3: Competitive Landscape - Other notable players in the alternative energy sector, such as Energy Vault Holdings, Ameresco, and Fluence Energy, are also expanding their operations to capitalize on the growing U.S. energy storage market [7][10] - Energy Vault's 2026 sales estimate is $214.5 million, reflecting an 18.6% increase, while Ameresco's long-term earnings growth rate is projected at 25% [8] Group 4: Stock Performance - Over the past six months, Ormat Technologies' stock has increased by 34.8%, outperforming the industry growth of 11.7% [11] - Ormat currently holds a Zacks Rank of 2 (Buy), indicating positive market sentiment [12]

Core Viewpoint - Hypercharge Networks Corp. has launched Hypercorp Energy Solutions, an initiative aimed at expanding its services into the $40 billion USD global battery energy storage market, integrating battery storage, advanced energy management, and professional services to support large-scale electrification [1][2]. Group 1: Hypercorp Energy Solutions Overview - Hypercorp is designed as an advanced energy platform to assist commercial, fleet, and multi-family property owners in generating, storing, and optimizing energy delivery [2]. - The initiative combines battery energy storage systems (BESS), advanced energy management software, and professional services into a single offering to address infrastructure constraints and rising electricity costs [2][6]. Group 2: Target Market and Initial Launch - The initial focus will be on Hypercharge's existing customer base, which includes over 500 active sites across North America [3]. - Hypercorp aims to provide tailored energy storage and management solutions that consider site-specific electrical capacity and utility limitations, enabling customers to deploy additional EV charging and reduce operating costs [3][4]. Group 3: Technological Integration and Management - Hypercorp builds on Hypercharge's experience with battery-integrated solutions, including the deployment of GridLink battery-integrated DC fast charging stations [4]. - The Equion™ Energy Management Platform will allow properties to add EV charging and other high-capacity systems without overloading existing infrastructure, supporting demand response and time-of-day pricing programs [7]. Group 4: Business Model and Revenue Generation - Hypercorp will adopt an asset-light model by partnering with leading BESS providers, focusing on higher-margin SaaS revenue from the Equion™ platform, equipment financing, and professional services [9]. - The initiative is expected to create a more scalable and recurring revenue base for the company [5]. Group 5: Corporate Changes - Diana Mark has retired as Corporate Secretary, with Stephanie Sharma appointed to the role effective January 7, 2026 [11][12].

Core Viewpoint - The signing of the Huining Times energy storage power station project in Jiangmen City marks a significant investment of 4.5 billion yuan, aimed at enhancing the power supply capacity in Guangdong Province and supporting the region's energy transition [1] Group 1: Project Overview - The project will cover an area of approximately 219 acres and will include the construction of a 1300MW/2600MWh electrochemical energy storage power station and supporting facilities [1] - The project is strategically located near the 500kV Guifeng Station, which will help meet the growing peak load demand in western Guangdong [1] Group 2: Strategic Importance - The project is expected to significantly improve the short-term and medium-term power supply capabilities in Guangdong Province, acting as a large-scale "regulator" and "stabilizer" for the grid [1] - It will provide essential support for the safe and stable operation of local power grids and nuclear power units [1] Group 3: Industry Development - Guangdong Province is positioning the new energy storage industry as a strategic pillar of its manufacturing sector, with Jiangmen City aiming to achieve a new energy storage output value exceeding 50 billion yuan by 2027 [1] - The Xinhui District is identified as the core area for energy storage industry development, focusing on battery manufacturing, system integration, and recycling [1] Group 4: Future Prospects - The project will offer key services such as grid peak shaving, frequency regulation, and promoting renewable energy consumption, which will directly support local industrial upgrades [1] - It aims to establish a solid foundation and serve as a benchmark for Jiangmen's development as a "provincial new energy storage industry base," contributing to the growth of the energy storage industry in Guangdong and nationwide [1]

Group 1 - The core viewpoint of the article highlights a significant surge in energy storage orders, with projections indicating over 917 GWh of orders for 2025, continuing into 2026 with major companies securing substantial contracts [2][13]. Group 2 - Jinko Energy has signed a framework cooperation agreement with Shaanxi Yihe Green Energy Co., aiming for a collaboration scale of 3 GWh over the next two years, focusing on project development, equipment procurement, and technical collaboration [3][6]. - Jinko Energy will provide its new generation Blue Whale SunTera G3 6.25 MWh battery storage system, which boasts a 95% system cycle efficiency and a lifespan of up to 10,000 cycles, designed for high energy density and efficiency in various harsh environments [6]. Group 3 - Nandu Power has successfully won a bid for an independent energy storage project in Greece with a total installed capacity of 235 MWh, aimed at enhancing the local grid's renewable energy absorption capacity [7][8]. - The project will utilize Nandu's Center L Plus 5 MWh liquid-cooled storage system, which includes a complete set of energy storage system solutions, contributing to the optimization of energy resource allocation in Greece [12].

Key Points - The article discusses the upcoming "Energy Storage 2026 Opening Conference" scheduled for January 8, 2026, in Shenzhen, focusing on innovations in the energy storage industry and the participation of key industry leaders [2] - The conference will feature discussions on virtual power plants, intelligent computing technologies, and the evolving investment and operational practices in the energy storage sector [5][6] - A total of 14 system integration companies will explore the shift from capacity competition to customized scenario capabilities in energy storage systems [6][8] - Key topics include the development status and application exploration of network-type and distributed energy storage, as well as the impact of digitalization on energy storage value [8][9] - The event will also cover advancements in AIDC (Artificial Intelligence Data Center) and large-capacity battery cells, with discussions on safety innovations and market opportunities [11][12] Group 1: Highlights of the Conference - The conference will feature seven companies sharing their investment and operational experiences in the context of new energy storage practices [5] - Notable speakers include industry leaders discussing topics such as AI-driven energy storage operations and maximizing economic returns through resource optimization [5][6] - A roundtable discussion will focus on the core capabilities and key drivers necessary for companies to thrive in the future energy storage market [5][6] Group 2: System Integration and Scenario Applications - The focus of the conference will shift to scenario-based customization capabilities among 14 system integration firms [6][8] - Presentations will cover the current state of network-type and distributed energy storage technologies, emphasizing their core value and application scenarios [8][9] - Discussions will also address how digital technologies can enhance energy storage's multi-dimensional value across various applications [9] Group 3: Core Supply Chain Insights - The event will include discussions on core supply chain elements such as batteries, PCS, BMS, EMS, and temperature control [11][12] - Key representatives will share insights on the integration of energy storage with AIDC and the safety innovations associated with large-capacity battery cells [11][12] - A roundtable will explore how companies can build competitive advantages in the evolving market landscape [11][12]