Henan Yicheng's controlling shareholder undergoes strategic restructuring

Henan Yicheng New Energy Co., Ltd. announced on September 25, 2025, that its controlling shareholder, China Pingmei Shenma Holding Group Co., Ltd., will undergo a strategic restructuring. This decision by the Henan Provincial Party Committee and Government involves the strategic reorganization of Henan Energy Group Co., Ltd. and China Pingmei Shenma Holding Group.

As of September 20, 2025, the controlling shareholder and its concerted parties collectively hold 826,039,864 shares in Henan Yicheng New Energy, representing a 44.0935% stake. The company clarified that this restructuring is not expected to significantly impact its production and operational activities.

The actual controller of Henan Yicheng New Energy remains the Henan Provincial State-owned Assets Supervision and Administration Commission, ensuring the company's control rights will not change. Henan Yicheng New Energy pledges to closely monitor the progress of this matter and fulfill its information disclosure obligations.