Yankuang Energy terminates acquisition of Highfield Resources

Yankuang Energy Group Co. (stock code: 600188) announced on September 15, 2025, the termination of its merger and acquisition of Highfield Resources Limited. The company had previously signed an "Implementation Agreement" and an "Equity Subscription Agreement" with Highfield Resources on September 23, 2024, aiming to acquire new shares through asset injection and cash subscription.

The termination decision stems from the failure of prerequisite conditions outlined in both agreements to be fully met or waived by the final deadline. Yankuang Energy confirmed that written notices to terminate both agreements were issued to Highfield Resources, leading to their immediate cessation.

Yankuang Energy stated that this decision, made after careful consideration, aligns with the agreements and will not negatively impact its existing operations, future development, or the interests of its shareholders. The company plans to proceed with its Canadian potash mine development project based on market principles.