Shanxi Blue Flame ownership simplified by government reorganization

Shanxi Blue Flame Holding Co. announced a reduction in equity tiers between its controlling shareholder and actual controller, stemming from a decision by the Shanxi Provincial People's Government. The government will directly hold 90% equity in Huaxin Natural Gas Group Co. and 90% equity in Jinneng Holding Group Co., previously held by Shanxi State-owned Capital Operation Co. This transfer directly places these significant holdings under the Shanxi Provincial People's Government State-owned Assets Supervision and Administration Commission (Shanxi SASAC).

The company clarifies that this change will not alter its direct controlling shareholder, which remains Shanxi Gas Group Co., nor its ultimate actual controller, the Shanxi SASAC. Furthermore, the ownership change is not expected to impact the company's stability, normal operations, or ongoing development, nor does it involve a tender offer.

The announcement indicates that the necessary industrial and commercial registration changes are still pending. Investors are advised to exercise caution and be aware of investment risks. The board of directors of Shanxi Blue Flame Holding Co. released this announcement on December 2, 2025.