Xinte Energy restructures equity in energy project subsidiaries

Xinte Energy (HKEX:1799) announced a series of connected and discloseable transactions involving equity transfers and capital injections into its subsidiaries, Shengyu and Shengding. Under the agreements, Silicon New Material and Sunoasis, subsidiaries of Xinte Energy, will transfer a 25% equity stake in Shengyu and Shengding to Xinjiang Tianchi. As part of the deal, Xinjiang Tianchi will inject approximately RMB209.7 million into Shengyu and RMB387.9 million into Shengding, totaling roughly RMB597.6 million. Post-transaction, Xinte Energy will retain a 59.9% stake in both target companies through its subsidiaries. The restructuring is expected to yield a gain of approximately RMB206,000 for the Group, while the proceeds of the equity transfer will be used to replenish the operating liquidity of Silicon New Material and Sunoasis. Independent shareholders will vote on the transaction at an upcoming EGM, while TBEA Group shall abstain from voting.