Henan Yicheng New Energy: M&A loan secured, financing update

Henan Yicheng New Energy Co., Ltd. announced its Board of Directors approved an application for a merger and acquisition loan of up to RMB 60 million from Zhengzhou Bank Huiji Sub-branch. This seven-year loan, with an annualized comprehensive interest rate not exceeding 3.60%, will finance a portion of transaction costs for two recent equity acquisitions.

The first acquisition, approved on March 28, 2025, involved purchasing 65.5456% equity in Shanxi Meishanhu Technology Co., Ltd. for RMB 73.5739 million. The second, approved on April 23, 2025, was the acquisition of 80% equity in Henan Pingmei Shenma Energy Storage Co., Ltd. for RMB 35.4970 million.

The company stated that securing this M&A loan aligns with its operational needs, optimizes its financing structure, and is not expected to pose significant financial risks or harm shareholder interests. The Board authorized the chief financial officer to manage all related application procedures and sign necessary contracts.