Meijin Energy adjusts project timeline, buys back convertible bonds

Shanxi Meijin Energy Co., Ltd. announced a passive related-party guarantee formed due to a change in the scope of consolidation. The company's equity in Foshan Feichi Automobile Technology Co., Ltd. (Feichi Technology) now stands at 42.6667%. Following the withdrawal of certain directors, Feichi Technology is no longer consolidated and has become an associate company. This change converts previous guarantees for Feichi Technology into related-party guarantees, totaling CNY 53,749,100, as of the announcement date. The board approved this, noting that it does not increase external guarantees, but awaits shareholder approval.

In parallel, Meijin Energy announced a delay for its "Luanzhou Meijin New Energy Co., Ltd. 14,000Nm³/h Coke Oven Gas Hydrogen Production Project," pushing the expected completion date from December 2025 to December 2026 due to natural gas pipeline relocation affecting construction permits. The project has allocated raised capital of CNY 100,000,000. Additionally, the company reported the results of its "Meijin Convertible Bond" (bond code: 127061) buyback. A total of 23 bonds were validly tendered, amounting to CNY 2,322.67 (inclusive of interest and tax), with funds expected to reach investors by December 12, 2025.