Binhai Energy: Intends to issue shares to acquire 100% equity of Cangzhou Xuyang and raise supplementary funds.

Binhai Energy announced that the company plans to issue shares to purchase 100% equity of Cangzhou Xuyang Chemical Industry held by Xuyang Group and other parties, and to raise funds from specific investors, which is expected to constitute a significant asset restructuring and related transaction. After the completion of the transaction, the controlling shareholder is expected to change to Xuyang Group, with Yang Xuegang remaining as the actual controller. The company's stock is set to resume trading on May 19, 2025. As of the date of the announcement, due diligence, auditing, evaluation, and other work have not been completed, and the transaction still requires approval or registration from the company's board of directors, shareholders' meeting, and regulatory authorities.