Xinte Energy subsidiary gets capital injection, changes ownership structure

Xinte Energy Co., Ltd. announced on September 12, 2025, a Capital Injection Agreement involving its subsidiary, Inspection Company, Tianchi Energy, and the Target Company. Tianchi Energy will inject 35 million yuan into the Target Company's registered capital. This will reduce Xinte Energy's equity interest in the Target Company from 100% to 61%, with Tianchi Energy holding 39% post-injection. The Target Company will remain a subsidiary.

This transaction constitutes a deemed disposal and a connected transaction, as Tianchi Energy is a subsidiary of TBEA, Xinte Energy's controlling shareholder. The transaction is subject to reporting and announcement requirements but is exempt from independent shareholders’ approval.

The capital injection is expected to increase Xinte Energy's total assets by 35 million yuan. The Target Company will use the proceeds for research and innovation expenses on silicon-based materials. As of June 30, 2025, the Target Company's unaudited total assets and net assets were approximately 5.18 million yuan and 1.10 million yuan, respectively.