Breton Technology Co., Ltd. Announces Major Construction Contract for Landmark Digital Energy Project in Africa

Key Details of the Transaction

• Contract Award: On March 5, 2026, Breton Technology Co., Ltd. (Stock Code: 1333) announced that its indirect non-wholly-owned subsidiary, MINIERE VERTE SAS, has entered into a general construction contract with STE DE DEVELOPPEMENT DU COMMERCE ET DE CONSTRUCTION for the Jinchuan Ruashi Digital Energy Project.
• Contract Value: The provisional contract price is USD 17,080,000 (approximately HKD 133,224,000), exclusive of value-added tax.
• Project Scope: The contract covers civil engineering and installation works for a 118MWp photovoltaic area and a 330MWh energy storage power station, along with related infrastructure such as residential and auxiliary buildings, sewage treatment, water pools, and management area lighting. The final settlement will be based on actual grid-connected capacity.
• Project Location: Ruashi Mining Area, Lubumbashi, Haut-Katanga Province, Democratic Republic of the Congo.
• Construction Timeline: Planned commencement date is March 2026, with completion targeted for July 30, 2026. The total construction period is 150 days.
• Payment Schedule:
  • 15% advance payment upon contract signing and mobilization
  • Progress payments based on milestones: up to 45%, 70%, 85%, and 95% of contract price as construction stages are accepted
  • 5% retention money, to be paid after the one-year defects liability period
• Funding: The project will be financed by proceeds from a placing completed in November 2025, company funds, and bank borrowings.
• Contractor Selection: STE DE DEVELOPPEMENT DU COMMERCE ET DE CONSTRUCTION was chosen after a competitive public tender process for its superior technical and commercial performance.
• Warranty: One-year defects liability period from the date of completion and acceptance.

Shareholder-Relevant and Potentially Price-Sensitive Information

• Strategic Importance: This project is a core element of Breton Technology’s overseas expansion and integrated “electric equipment + comprehensive energy” strategy, targeting the urgent demand for new energy construction machinery in emerging markets such as Africa and the Middle East.
• Market Impact: The project addresses chronic power supply issues in mineral-rich regions, replacing costly diesel generation with stable, low-carbon electricity. This will facilitate the future deployment of electric mining trucks and position Breton Technology as a leader in green mining solutions.
• Use of Placing Proceeds: Approximately 70% of the proceeds from the recent placing (around HKD 168 million) are being allocated to overseas photovoltaic and energy storage projects, demonstrating clear follow-through on previously disclosed strategic intentions.
• Potential Share Price Movement: Successful execution of this contract marks Breton Technology’s second landmark African project, advancing its ability to provide integrated new energy solutions and strengthening its competitive position. The announcement confirms the transition from design and procurement to actual construction, which may be viewed positively by investors due to its revenue-generating potential and affirmation of strategic execution.
• Regulatory Disclosure: The contract qualifies as a “discloseable transaction” under Hong Kong Listing Rules, with the highest applicable percentage ratio exceeding 5% but less than 25%, triggering reporting and announcement requirements. This transparency is crucial for investor trust and compliance.
• Risk Considerations: The project relies on successful execution within a tight timeline, and is dependent on local market conditions in the Democratic Republic of the Congo. The retention payment and warranty period provide some assurance regarding construction quality.

Additional Information

• Project Investment: Breton Technology has committed approximately USD 130 million to the Ruashi microgrid project, aiming to lay the energy foundation for large-scale new energy mining truck deployment.
• Company Background: Breton Technology specializes in electric-powered engineering machinery and intelligent operation services, with MINIERE VERTE SAS focusing on new energy investments in Africa.
• Contractor Background: STE DE DEVELOPPEMENT DU COMMERCE ET DE CONSTRUCTION is a Congo-based construction firm, wholly independent from Breton Technology and its connected persons.
• Directors’ View: The board, including independent non-executive directors, unanimously considers the contract to be on normal commercial terms, fair, reasonable, and in the best interests of shareholders.
• Exchange Rate: For illustrative purposes, the announcement uses USD1 = HKD7.8.

Conclusion

The initiation of the Jinchuan Ruashi Digital Energy Project’s construction phase is a significant milestone for Breton Technology’s international growth, strategic positioning in new energy markets, and execution of its integrated energy and equipment solutions. Investors should closely monitor the progress, as this project is likely to have material implications for the company’s financial performance, operational footprint, and long-term valuation.

Disclaimer

This article is provided for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any security. Investors should conduct their own research and consult with financial advisors before making investment decisions. The information herein is based on company disclosures and may be subject to change.

View BRETON Historical chart here