Luoyang Glass completes Jiangsu Triumph equity stake acquisition

Triumph New Energy Company Limited (HKEX:1108), formerly known as Luoyang Glass, has completed the market supervision registration procedures for its acquisition of a 74.60% equity interest in Jiangsu Triumph New Material Co., Ltd., effective May 23, 2025. As a result, Jiangsu Triumph becomes a subsidiary of Luoyang Glass, and its financial results will be consolidated into the group's accounts. The total capital contribution for the acquisition is RMB373,000,000, with RMB150,000,000, representing 40% of the total, due within 10 working days of the registration completion, and the remaining 60% (RMB223,000,000) to be paid prior to October 30, 2025.