JiaXing Gas Group: Concert party agreement terminated, altering shareholder control

JiaXing Gas Group Co., Ltd. announced on December 23, 2025, the termination of a concert party agreement involving Taiding, Zhuji Yujia, Mr. Xu Songqiang, and Ms. Xu Hua. This agreement, effective from July 16, 2023, previously mandated that Zhuji Yujia, Mr. Xu, and Ms. Xu delegate their voting rights to Taiding until July 15, 2026. With the termination, these parties are no longer considered to be acting in concert under the Takeovers Code, thereby altering the deemed interests in the company’s shares.

Before the termination, the concert parties collectively held 45,573,175 domestic shares and 158,500 H shares, representing approximately 33.18% of the company's total issued share capital. Post-termination, Taiding’s total interest in shares decreased from 33.18% to 22.07%. Similarly, Zhuji Yujia's total interest dropped from 33.18% to 8.63%, Mr. Xu's from 33.18% to 2.28%, and Ms. Xu's from 33.18% to 0.20%.

The board stated that these changes are not expected to have any material adverse impact on the group's operations or financial position. Shareholders and potential investors have been advised to exercise caution when dealing in the company’s securities.