Risen Energy addresses regulatory directives, outstanding receivables

Risen Energy announced that the transfer of 100% equity in Ningxia Xuning New Energy Technology Co., Ltd. was completed in June 2022. As a result, Ningxia Xuning's outstanding receivables to Risen Energy passively formed, with a current balance of CNY 10,565.86万元. The company is actively following up on these receivables and will continue to monitor the progress of this transaction.

The company received a rectification notice from the Ningbo Securities Regulatory Bureau on October 31, 2025, for failing to timely disclose significant event progress and for inadequate insider information registration and management. The outstanding receivables from Ningxia Xuning were not fully settled, with CNY 10,565.86万元 remaining by the end of 2024.

In response to the regulatory directive, Risen Energy has implemented several rectification measures, including internal accountability, strengthening legal and regulatory compliance, and enhancing information disclosure training. The company is committed to improving overall governance and ensuring timely, accurate, and complete information disclosure.