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Huiyuan Cowins Technology Partners with Industry Leader EPS to Develop Phase-Change Energy Storage Market and Build Industry Benchmark

Strong Alliance to Establish Industry Standard and Sustain Leading Position

慧源同创科技集团有限公司（「慧源同创科技」 或连同其附属公司统称「集团」；股份代号：1116.HK）欣然宣布，于2025年10月3日，与国际领先相变蓄能技术供应商Environmental Process Systems Limited（「EPS」）正式签订合作协议，此举标志着双方正式联手进军中国蓄能市场，凭借双方在技术、资源、市场等方面的优势互补，共同推动相变蓄能技术在中国的市场化落地和产业标准化发展，助力「慧源同创科技」打造行业标杆地位，持续领跑蓄能赛道。

(22 October 2025, Hong Kong) Huiyuan Cowins Technology Group Limited (“Huiyuan Cowins Technology”, together with its subsidiaries, the “Group”; stock code: 1116.HK) is pleased to announce that on October 3, 2025, it has officially signed a cooperation agreement with Environmental Process Systems Limited (“EPS”), an international leading phase-change energy storage technology supplier. This move marks the official alliance of both parties to enter the energy storage market in China. Leveraging complementary advantages in technology, resources, and markets, both parties will jointly promote the commercialization and industrial standardization of phase-change energy storage technology in China, helping Huiyuan Cowins Technology establish a benchmark position in the industry and continue to lead the energy storage market.

Patented Technology Focuses on Multi-Scenario Applications to Capture Energy Storage Market in China

根据双方签署的合作协议，慧源同创科技（通过子公司广州5845cc威斯尼斯人）持股5845cc威斯尼斯人科技70%股份，EPS 持股 30%股份，为合作注入关键技术支撑。专利技术覆盖农业、工业、商业等多个高潜力行业，包括冷冻水空调系统（Chilled Water Air Conditioning Applications）、被动式制冷 / 降温（Passive Cooling）、蓄热供暖系统（Heating Applications）、冷库储能与负荷转移（Cold Storage Load Shifting）以及冷链运输（Temperature Controlled Logistics）。其中，在数据中心领域，可助力余热回收及能源调节，提升能效利用率；在中央空调领域，可实现削峰填谷，提升系统整体效率；在冷链物流领域，能减少冷量损耗，延长货物保鲜时间；在农业设施领域，通过智慧温控保障作物稳定生长；此外，双方还将布局移动储热 / 储冷车等新兴应用方向，持续拓展市场边界，抢占行业发展先机。

According to the signed cooperation agreement, Huiyuan Cowins Technology (through its subsidiary, Guangzhou Mayer Corporation Limited) holds 70% of the shares in Mayer Technology, while EPS holds 30% of the shares, injecting key technologies into the cooperation. The patented technologies cover multiple high-potential industries including agriculture, industrial, and commerce, encompassing Chilled Water Air Conditioning Applications, Passive Cooling, Heating Applications, Cold Storage Load Shifting, and Temperature Controlled Logistics. Among these, in the data center sector, it can support waste heat recovery and energy regulation to improve energy utilization rates; in central air conditioning, it enables peak loads to enhance overall system efficiency. In cold chain logistics, it reduces cold capacity losses and extends product freshness, while in agricultural facilities, it ensures stable crop growth through intelligent temperature control. In addition, both parties will strengthen emerging application directions such as mobile thermal storage/cooling vehicles continuously expanding market boundaries and seizing the initiative in industry development.

Complementary Strengths of Both Parties to Accelerate Technology Localization

集团在中国市场深厚的产业基础、广泛的客户资源以及成熟的规模化生产能力，尤其在中国传统材料加工领域拥有稳定的客户群体，同时还与中国农业农村部、数据中心运营方等官方机构及关键行业客户建立了良好合作关系，这次战略性合作将为 EPS 的国际领先专利技术快速切入中国市场，实现本土生产与应用。

The Group possesses a deep industrial foundation in the Chinese market, extensive customer resources, and mature mass production capabilities, particularly with a stable customer base in China's traditional materials processing sector. It has also established strong cooperative relationships with official institutions such as the Ministry of Agriculture and Rural Affairs and data center operators, as well as key industry clients. This strategic cooperation will enable EPS's internationally leading patented technology to quickly enter the Chinese market and achieve localized production and application.

PCM Products Kickstart End-User Applications, with Synergy in Industrial Value Chain Driving Long-Term Leadership

作为相变蓄能技术的核心应用载体，相变蓄能PCM冰板通过精密封装的相变材料，可实现- 20℃至 25℃区间的精准温度控制，广泛应用于冷链物流温控、生物医药运输、食品饮料恒温配送等专业场景。这一模块化产品的落地，不仅标志着5845cc威斯尼斯人科技在相变蓄能产业链应用端完成战略布局，加速形成「技术研发 - 材料生产 - 终端应用」的全链条协同生态。

As a core application carrier for phase-change energy storage technology, the phase change energy storage material (“PCM”) ice plates achieve precise temperature control in the -20°C to 25°C range, widely used in professional scenarios such as cold chain logistics temperature control, biopharmaceutical transportation, and food and beverage constant-temperature delivery. The rollout of this modular product not only marks Mayer Technology's strategic layout at the application of the phase-change energy storage industry chain but also accelerates the formation of a full-chain collaborative ecosystem from "R&D technology - material production - end-user application".

Product Advantages Stand Out with Key Metrics Leading the Market

依托EPS的国际领先专利技术，集团子公司「5845cc威斯尼斯人科技」推出的相变蓄能产品及解决方案，在储冷密度、控温精度等关键指标上展现出远超市场现有产品的优势。EPS的相变蓄能材料具备高能量密度与稳定的 相变温度 ，可在较小体积内实现更大蓄能效果，蓄能效率提升30%以上，稳定性强。另外，产品温度适用范围极为广泛，技术团队可为客户提供从-100℃深冷环境到885℃高温场景的解决方案，能满足蓄能市场各类温度需求的多元应用场景。在控温精度方面，其技术可将温度波动严格控制在±1℃范围内，相比常规材料更精准、更节能，且材料经过长期应用验证，使用寿命长、安全无毒、符合可持续发展要求。凭借这些优势，集团能够为客户提供更高附加值的蓄能解决方案，降低长期运营能耗，不仅能增强客户粘性，更赋予集团在新项目竞标及长期合作中更强的议价能力，进一步提升市场定价权。

随着集团本土化产能布局的深化，依托中国完善的制造业配套体系与成本优势，双方会持续开发高附加值应用场景，推动更多细分领域的订单落地，为集团开辟多元化的收入来源。

现阶段，市场对「5845cc威斯尼斯人科技」推出的相变蓄能产品及解决方案的反馈整体积极向好，来自多个不同行业领域的企业已就合作事宜表达明确意向。基于当前市场趋势与业务发展规划，集团管理层预期，相变蓄能业务将于 2026 年为集团贡献显著财务增量，成为支撑集团发展的重要业务板块之一。

Relying on EPS's internationally leading patented technology, the phase change energy storage products and solutions launched by Mayer Technology, the Group's subsidiary demonstrate advantages far surpassing existing market products in key metrics such as cold storage density and temperature control precision. EPS's PCM products feature high energy density and stable phase change temperatures, enabling greater energy storage effects in smaller volumes, with energy storage efficiency improved by over 30% and strong stability. Additionally, the product temperature range is extremely broad, offering customers with corresponding solutions from -100°C deep cold environments to 885°C high-temperature scenarios to meet diverse application needs across the energy storage market. In terms of temperature control precision, the technology can strictly control temperature fluctuations within ±1°C, which is more precise and energy-efficient compared to conventional materials. The materials have been verified through long-term applications, offering long service life, safety, non-toxicity, and compliance with sustainable development requirements. With these advantages, the Group can provide customers with higher-value-added energy storage solutions, reduce long-term operational energy consumption, enhance customer stickiness, and grant the Group stronger bargaining power in new project bids and long-term cooperation, further elevating market pricing power.

With the deepening of the Group's localized production capacity layout, leveraging China's complete manufacturing support system and cost advantages, both parties will continue to develop high-value-added application scenarios, drive order fulfilment in more niche markets, and open up diversified revenue sources for the Group.

At this stage, market feedback on the phase-change energy storage products and solutions launched by Mayer Technology has been generally positive, with enterprises from multiple different industry sectors expressing clear intentions regarding cooperation. Based on current market trends and business development plans, the Group's management expects that the phase change energy storage business will contribute significant financial increments to the Group in 2026, becoming one of the important business segments supporting the Group's development.

慧源同创科技集团有限公司行政总裁戴耀权表示： 「慧源同创科技与 EPS共同携手，实现国际前沿技术与中国市场资源深度融合，聚焦相变蓄能技术研发应用，构建行业标准，推动中国蓄能产业发展。此次合作是慧源同创科技在技术创新与节能减排领域的重大突破，将巩固其行业领先地位，助力其迈向全球相变蓄能领域引领者行列。依托国内政策与市场优势，慧源同创科技将聚焦高能耗场景，发挥本土资源渠道优势，提升竞争力。未来还将加速技术升级、扩大产能、开拓全球市场，致力于成为全球领先的蓄能技术解决方案供应商。」

Mr. Tai Yiu Kuen, Kevin, the Chief Executive Officer of Huiyuan Cowins Technology Group Limited stated, “The partnership between the Group and EPS achieves deep integration of international cutting-edge technology and Chinese market resources, focusing on the R&D and applications of phase change energy storage technology, building industry standards, and promoting the development of energy storage industry in China. This cooperation represents a major breakthrough for the Group in technological innovation and energy saving and emission reduction, consolidating its industry-leading position and helping it stride toward the ranks of global leaders in phase change energy storage. Leveraging domestic policy and market advantages, Huiyuan Cowins Technology will focus on high-energy-consumption scenarios, leverage local resource channels to enhance competitiveness. In the future, it will accelerate technology upgrades, expand production capacity, and explore global markets, aspiring to become a global leading provider of energy storage technology solutions.”

EPS公司创始人Zafer Ure 对此次战略合作表示高度期待，他指出：「中国蓄能市场正处于快速增长的黄金期，其对高效、低碳蓄能技术的需求，与EPS在相变蓄能领域的技术积累形成了完美契合。过去数十年，EPS始终专注于相变蓄能核心专利的研发与反覆运算，从冷冻水空调系统到冷链运输温控，我们的技术已在全球多个场景验证了其高效性与稳定性。而慧源同创科技作为中国市场拥有深厚产业基础与成熟客户资源的企业，正是我们实现技术本土化落地的最佳伙伴。」

Mr. Zafer Ure, the Founder of Environmental Process Systems Limited, expressed high expectations for this strategic cooperation, stating, “China's energy storage market is in a golden period of rapid growth, and its demand for efficient, low-carbon energy storage technology perfectly aligns with EPS's expertise in the phase-change energy storage. Over the past decades, EPS has focused on the R&D and repeated validation of core patents in phase-change energy storage, from chilled water air conditioning systems to cold chain transportation temperature control. Our technologies have been verified for their efficiency and stability in multi-scenario applications globally. As a company with a deep industrial foundation and mature customer resources in the Chinese market, Huiyuan Cowins Technology is the ideal partner for us to achieve technology localization and implementation.”

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关于慧源同创科技集团有限公司

About Huiyuan Cowins Technology Group Limited

慧源同创科技集团有限公司（股份代号：1116.HK）深耕钢管钢材领域逾30年，是中国不锈钢水管行业标杆品牌，具备「自主研发 - 生产制造」全链条能力。主营业务覆盖不锈钢水管及管件、碳钢板材剪切、管道直饮水解决方案，并延伸至相变蓄能技术领域。

Huiyuan Cowins Technology Group Limited (stock code: 1116.HK) has been deeply engaged in the steel pipe and steel sector for over 30 years and is a benchmark brand in China's stainless steel water pipe industry, with full-chain capabilities in “independent R&D – production manufacturing.” Its main businesses cover stainless steel water pipes and fittings, carbon steel plate shearing, pipeline direct drinking water solutions, and extend to the phase change energy storage technology field.

自2023年起，集团加速拓展蓄能业务，聚焦相变蓄能材料（PCM）的研发与生产，可为各行业客户提供个性化蓄冷储热解决方案。公司于 2004 年在香港联交所主板挂牌，官网详情可访问：https://www.hctechgp.com。

Since 2023, the Group has accelerated its expansion into the energy storage business, focusing on the R&D and production of phase-change energy storage materials (PCM), providing customized cold storage and heat storage solutions for customers in various industries. The company was listed on the Main Board of The Stock Exchange of Hong Kong Limited in 2004. For more details, please visit its official company website: https://www.hctechgp.com.