Beijing Gas Blue Sky settles litigation, secures full ownership of Fund 47

Beijing Gas Blue Sky Holdings Limited announced on October 22, 2025, that it has entered into a sealed civil mediation agreement with the claimant, Hangzhou Pengnian Qingran Equity Investment Partnership (Fund 47), Zhangjiakou Qidi New Energy Co., Ltd. (Target Company 47), and Zhejiang Xinxin Assets Management Co., Limited. This agreement, stemming from litigation over 25,088,000 yuan, was facilitated by the Higher People's Court of Zhejiang Province.

Under the terms, Beijing Gas Blue Sky will pay 12.64 million yuan to the claimant, securing the 99% interests in Fund 47 registered in the claimant's name, of which 49.5% was already held on the company's behalf. Additionally, the company and the claimant will pay 650,000 yuan and 200,000 yuan, respectively, to Zhejiang Xinxin, transferring Zhejiang Xinxin's 1% interest in Fund 47 to the company. These payments, totaling 13.49 million yuan, are due by November 30, 2025, and will be funded from the group’s internal financial resources.

Upon completion, Beijing Gas Blue Sky will hold 100% interests in Fund 47, indirectly gaining 40% equity in Target Company 47. This settlement resolves all actions related to the litigation and appeal, with the company and claimant responsible for court fees of 245,494 yuan and 23,837 yuan, respectively. The board determined the mediation was in the best interest of the company and shareholders, avoiding further resource outflow.