NingXia YinXing Energy re-signs management agreement with controlling shareholder

NingXia YinXing Energy (SZSE:000862) has announced the re-signing of its "Entrust Management Agreement" with its controlling shareholder, NingXia Energy Group. This move aims to accelerate the resolution of horizontal competition issues previously committed to by NingXia Energy, while simultaneously boosting NingXia YinXing Energy's operational efficiency and optimizing resource allocation. As part of the agreement, NingXia YinXing Energy will manage assets previously under NingXia Energy's control, including stakes in entities like Shaanxi Province Local Electricity Dingbian Energy and several solar power plants, for a fee of CNY 15 million annually. This agreement terminates the previous equity entrustment and management agreements. This agreement will have no material impact on the financial situation. A first-quarter report highlights a year-over-year revenue increase of 4.24% to CNY 309.11 million with a net profit jump of 58.54% to CNY 72.57 million.