Wai Chun Bio-Technology Limited (WAI CHUN BIOTEC, 00660) announced that on 12 April 2026 it executed a Memorandum of Understanding (MOU) with a consortium of leading Chinese central state-owned enterprises (SOEs), Korean industrial groups and international financial institutions to co-develop wind and solar projects worldwide.
Key takeaways
1. US$50.00 billion Korea anchor • The parties committed to develop wind and solar assets in multiple jurisdictions, with projects in the Republic of Korea alone valued at not less than US$50.00 billion (approximately HK$390.00 billion). • Additional target markets include Thailand, Indonesia, five Central Asian countries, the United States, Canada, Romania, Saudi Arabia, Zambia and Mongolia. The company expects the aggregate pipeline to reach “hundred-billion-dollar” scale over time.
2. Comprehensive industrial and financial alliance • Engineering, Procurement and Construction (EPC): China Construction Sixth Engineering Bureau International, CITIC Construction, POSCO Construction and Doosan Construction have undertaken to provide competitive project delivery. • Equipment and co-investment: Ming Yang Group will prioritise wind-turbine supply; Korea South-East Power (KOSEP) will support grid connections and power-purchase agreements. • Financing: China Export & Credit Insurance Corporation (SINOSURE), UK Export Finance, China CITIC Bank and CUSTODIA Group are positioned to offer project finance, export credit insurance and bond funding.
3. Strategic repositioning and proposed name change Wai Chun intends to adopt the new corporate name “Wai Chun Energy Group Limited,” reflecting its expansion from bio-technology into large-scale global renewable-energy development. The company will act as lead developer, principal investor and operator across the project portfolio, overseeing approvals, financing and long-term asset management.
4. Implementation framework A joint task force headed by Wai Chun will coordinate project development. Binding agreements—including joint-venture and EPC contracts—will be executed once individual projects pass assessment and secure requisite approvals.
5. Next steps and disclosure The MOU serves as a strategic framework; specific projects remain subject to definitive agreements. Wai Chun will release further announcements in line with Hong Kong Listing Rules as milestones are achieved.
Trading resumption Trading in WAI CHUN BIOTEC shares, halted on 13 April 2026, is set to resume at 9:00 a.m. on 14 April 2026 following this disclosure.