Binhai Energy (000695.SZ) terminates the issuance of shares to purchase assets.

Zhtng Cijng APP News, Binhai Energy (000695.SZ) announced that it intends to purchase 100% equity of Cangzhou Xuyang Chemical Co., Ltd. held by Xuyang Group Co., Ltd., Xingtai Xuyang Coal Chemical Co., Ltd., Shenzhen Chuangtou Manufacturing Industry Transformation and Upgrade New Materials Fund (Limited Partnership), and ICBC Financial Assets Investment Co., Ltd. through the issuance of shares, and plans to privately issue shares to raise supporting funds from no more than 35 specific investors who meet the conditions. Since the disclosure of the transaction plan, the company and related parties have actively promoted the relevant work of the transaction. Due to changes in the market environment compared to the early stage of planning this transaction, after negotiations and discussions among the parties involved in the transaction, they were unable to reach an agreement on the relevant commercial terms. In order to effectively safeguard the interests of the company and all shareholders, after careful study and friendly negotiations with all parties involved in the transaction, it was agreed to terminate the transaction and authorize the management to handle the matters related to the termination of the transaction.