Recently, CDHORIZON, the equipment leasing company under FEHORIZON, announced that its subsidiary has completed the acquisition of a 25.6306% equity stake in Shanghai Hongzuo New Energy Technology Co., Ltd. (hereinafter referred to as "Hongzuo New Energy"). Following the completion of this transaction, CDHORIZON, as a co-shareholder of Hongzuo New Energy, will join forces with Sequoia China to leverage both parties' resource and technological advantages to advance the layout of overseas distributed photovoltaic projects, helping CDHORIZON accelerate its transformation and upgrade into a full-scenario solutions provider.

Hongzuo New Energy is a leading enterprise in the investment and operation of distributed photovoltaic power stations in China, possessing mature project investment development and full life-cycle operation management capabilities. Leveraging CDHORIZON's global service network, the two parties, with complementary capabilities as the core, will combine their strengths to expand the overseas distributed photovoltaic market, further improve the service chain, broaden business scenarios, and establish a solid capability foundation for the implementation of overseas new energy business.

This business exploration precisely targets the Middle East and Southeast Asia, two globally high-growth core regions for photovoltaics, which offer vast market space and strong policy support. Data shows that the Middle East is one of the fastest-growing regions for PV globally, with a compound annual growth rate exceeding 40% over the next five years. From 2026 to 2030, new PV installations in the region are expected to exceed 200 GW, corresponding to a new market investment scale of over RMB 540 billion. Saudi Arabia, the UAE, and Turkey—countries where CDHORIZON has made key strategic deployments—together contribute over 70% of the region's installation growth. Saudi Arabia's target of 130 GW of renewable energy capacity by 2030 and its energy market reforms continue to drive demand for industrial and commercial distributed PV. The Southeast Asian PV market is expected to achieve a compound annual growth rate of 8% over the next five years, with total new installations exceeding 20 GW from 2026 to 2030, corresponding to a new market investment scale of over RMB 57 billion. Vietnam, Thailand, Indonesia, and Malaysia are projected to add over 10 GW of new installations over the next five years, and their respective energy transition policies provide stable support for CDHORIZON's business implementation.

Currently, CDHORIZON has established mature localized operational and full-scenario service capabilities in the Middle East and Southeast Asia, having deployed over RMB 5.8 billion in assets in these regions and built long-term, stable cooperation with high-quality local enterprises. Leveraging the full-industry-chain resources cultivated through its deep local presence, CDHORIZON can coordinate and connect various industry players across project investment, engineering construction, and operations management. This enables it to explore distributed PV retrofitting opportunities for projects in which it is already involved, while continuously identifying high-quality new PV project resources to promote the long-term development of its cooperative ventures.