Gigasun is positive on China’s interest rate cut and CATL’s successful IPO in Hong Kong

Gigasun AB (publ) welcomes today's announcement from China's central bank to lower reference interest rates. The five-year loan prime rate (LPR 5) will be lowered from 3.60% to 3.50%, whichis expected to reduce the company's interest expense and strengthen cash flow.

At the same time, we note with interest that CATL, the world leader in energy storage, today made a successful stock market debut in Hong Kong. CATL's stock jumped up to 18% on thefirst day of trading, after raising $4.6 billion in the world's largest IPO to date in 2025. The successful listing strengthens the companies active in the green transition.

Gigasun’s CEO Max Metelius, comments:
"It is gratifying to see both monetary policy easing and strong capital markets in China. These factors improve the conditions for Gigasun's growth and profitability in the region

For more information, please contact:

Max Metelius, CEO Gigasun AB (publ)
Phone: +46 (0) 72 316 04 44
E-mail: max.metelius@gigasun.se

Stefan Salomonsson, CFO Gigasun AB (publ)
Phone: +46 (0) 70 220 80 00
E-mail: stefan.salomonsson@gigasun.se

Certified Advisor is FNCA Sweden AB

About the operation

Gigasun operates in China through its wholly owned subsidiaries Advanced Soltech Renewable Energy (Hangzhou) Co. Ltd (“ASRE”) and Longrui Solar Energy (Suqian) Co. Ltd. (“SQ”), and Suqian Ruiyan New Energy Co., Ltd. (“RY”).

The business model consists of financing, installing, owning and managing solar PV installations on customers' roofs in China. The customer does not pay for the solar PV installation, but instead enters an agreement to buy the electricity that the solar PV installation produces under a 20-year agreement. Current income comes from the sale of electricity to customers and governmental subsidies.

The goal is to have an installed capacity of 1,000 megawatts (MW) in the medium term.

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Gigasun is positive on China's interest rate cut and CATL's successful IPO in Hong Kong