Beijing Hai New Energy Technology Co., Ltd.
Announcement on Transfer of Equity in Subsidiary and Passive Overdue Financial Assistance
The Company and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, and that there are no false records, misleading statements, or significant omissions.
I. Overview of Financial Assistance Situation
Beijing Hai New Energy Technology Co., Ltd. (hereinafter referred to as the "Company") provided daily operating loans to its former holding subsidiary, Beijing Sanju Lvyuan Co., Ltd. (hereinafter referred to as "Sanju Lvyuan"). On June 13, 2023, the Company transferred all its equity in Sanju Lvyuan to Heilongjiang Hongxinglong Agricultural Reclamation Julong Biomass New Material Co., Ltd., and completed the industrial and commercial registration. The Company no longer holds equity in Sanju Lvyuan, which has resulted in the Company passively providing financial assistance to an unconsolidated entity. The business substance is a continuation of the Company's daily operating loans to its former holding subsidiary.