Progress of the Restructuring
China Energy Conservation Iron and Steel Co., Ltd. (hereinafter referred to as "the Company") is planning to advance a major asset restructuring and related transactions (hereinafter referred to as "this restructuring"). For details, please refer to the Company's announcement on May 29, 2026, titled "Notice on Planning Major Asset Restructuring and Related Transactions" (Announcement No.: 2026-031).
On June 2, 2026, the Company received a "Notice" from China Energy Conservation and Environmental Protection Group Co., Ltd. (hereinafter referred to as "China Energy Group"). According to the "Notice," the Company intends to acquire controlling stakes in China Energy Conservation Jinghe Technology Co., Ltd. (hereinafter referred to as "Jinghe Technology") and Xi'an Qiyuan Electromechanical Equipment Co., Ltd. (hereinafter referred to as "Qiyuan Equipment," collectively referred to as "the Target Companies") through cash payment (hereinafter referred to as "this transaction"). However, the specific transaction plan, asset pricing, and other arrangements have not yet been finalized. The parties involved have not signed any preliminary transaction documents, and the transaction plan still requires further verification and negotiation, as well as compliance with necessary decision-making and approval procedures according to relevant laws, regulations, and the Company's articles of association.
Basic Information of the Target Companies
1. Basic Information of Jinghe Technology
Jinghe Technology's business scope mainly includes road lighting contract energy management and LED lighting manufacturing and sales. Its basic information is as follows: