1.   INTRODUCTION

The board of directors of GCAP wishes to announce that GCAP had on 10 November 2025 entered into a Strategic Partnership Agreement (“Agreement”) with Fujian Tongyuan Green Energy Technology Co.,Ltd. (“Tongyuan”) to set forth mutual intentions to cooperate and collaborate in the field of product sales, market development, product research and development and project cooperation in relation to wind power projects developments (“Proposed Partnership”).

2.   BACKGROUND INFORMATION ON TONGYUAN

Tongyuan is a company incorporated and domiciled in China and having its registered office and principal place of business at No. 1, Qingfan Avenue, Yinxi Street, Fuqing City, Fuzhou City, Fujian Province, China.

Tongyuan is company specializing in new energy technology research and development, production and sales of wind power generation related equipment, and system application. The company also provides implementation and maintenance of its products.

3.   SALIENT TERMS OF THE AGREEMENT

The salient terms of the Agreement are, amongst others, set out below:

3.0.1  Objectives

The primary objective of the Proposed Partnership are to collaborate in the following areas:-

1. Wind power cooperation
2. Skills training cooperation
3. Charging Station cooperation
4. Energy storage cooperation

3.0.2  Responsibilities of the Parties

GCAP

1. To expand local market and manage customers;
2. To responsible for pre-approval of the project land and coordinating with local government approval;
3. To manage and implement the project and coordinate local resources;
4. To provide technical services and business support.

TONGYUAN

1. To develop and deliver wind power project technical solutions;
2. To provide wind power equipment supply, installation, operation and maintenance support;
3. To source charging station and auxiliary equipment manufacturer;
4. To provide energy storage battery system solution;
5. To provide technical services and business support

4.   FINANCIAL EFFECTS OF THE AGREEMENT

The Agreement is not expected to have any material effect on earnings, revenue and net assets per share of the Group for the financial year ending 31 December 2025.

5.   DIRECTORS AND SUBSTANTIAL SHAREHOLDERS’ INTEREST

None of the Directors or major shareholders of GCAP and persons connected with them has any direct or indirect interests, in the Agreement.

6.   STATEMENT BY DIRECTORS

The Board of GCAP is of the opinion that the Agreement is in the best interest of the Group.

7.   APPROVAL REQUIRED

The Agreement does not require the approval of shareholders of the Company and any relevant government authorities.

8.   DOCUMENT AVAILABLE FOR INSPECTION

The Agreement is available for inspection during normal office hours at the registered office of GCAP at No 11B Level 2, Persiaran Greentown 9, Greentown Business Centre, 30450 Ipoh, Perak from Mondays to Fridays (except public holidays) for a period of 3 months from the date of this announcement.

This announcement is dated 10 November 2025.