Yankuang Energy subsidiary to acquire High-End Support for 344.8m yuan

On November 27, 2025, Donghua Heavy Industry entered into an Equity Transfer Agreement to acquire 100% equity interest in High-End Support for an aggregate consideration of 344,847,433.48 yuan. This transaction is based on the appraised value of High-End Support's entire shareholders' equity, as determined by an independent valuer on April 30, 2025. Upon completion, High-End Support will become a wholly-owned subsidiary of Yankuang Energy.

The acquisition addresses competition within the equipment manufacturing industry, aims to minimize connected transactions, and enhance overall effectiveness. Shandong Energy is the controlling shareholder of Yankuang Energy, holding approximately 52.84% of its issued share capital, making this a connected transaction under Chapter 14A of the Listing Rules.

High-End Support, which commenced operations on September 28, 2023, reported a net profit before taxation of 15,149,563.53 yuan and a net profit after taxation of 13,360,586.68 yuan for the financial year ended December 31, 2024. The company experienced a loss in 2023 due to a lack of production orders and operational expenses.