[Zhenzhuo HK Stock Trends] Dali Power Holdings (01921.HK) enters the core Middle East market, jointly building a high-end energy equipment manufacturing base with Saudi ZUMAR

$DALIPAL HLDG(01921.HK) and its wholly-owned subsidiary Dalipal International for Industry Company officially announced the signing of a share purchase agreement with Saudi investment company ZUMAR ALOUFQ COMPANY to establish a joint venture, jointly promoting the 1.1 million-ton annual capacity energy equipment project located in King Salman Energy City, Saudi Arabia. This cooperation marks the substantial implementation phase of the Group's Middle East development strategy, establishing an important milestone for long-term growth in the global energy equipment sector.

Strong Background of Strategic Partner to Help Dalipal Capture Middle East Market Opportunities

ZUMAR is a strategic investment and development company jointly established by two prominent Saudi family groups - Alkhorayefs and Obeikans, focusing on promoting industrial innovation and introducing potential industrial projects in Saudi Arabia. ZUMAR has strong financial backing and deep social influence, providing robust support for the joint venture in order resources, government relations, market expansion, and international financing.

Establishing a Joint Venture to Promote the Implementation of 1.1 Million-Ton Annual Capacity High-End Intelligent Manufacturing in Saudi Arabia, with Phase I Investment Reaching USD 600 Million

According to the share purchase agreement, ZUMAR subscribed to a 40% equity stake in Dalipal International, Dalipal's wholly-owned subsidiary in Saudi Arabia, thereby establishing the joint venture. Upon completion of the share purchase, the Company will hold a 60% equity stake in Dalipal International.

Dalipal International will construct a high-end energy equipment manufacturing base with an annual capacity of 1.1 million tons in two phases at Saudi SPARK, producing seamless steel pipes for oil and gas exploration and transportation (OCTG), drill pipes, high-pressure boiler pipes, and new energy steel pipes (such as hydrogen transportation pipes), serving the local Saudi market as import substitution and exporting to international markets such as the Middle East and Africa.