Tongbao Energy: Reduction of shareholding and ultimate controller's property rights hierarchy completed through industrial and commercial changes.

Tongbao Energy announced that the Shanxi provincial government will transfer 90% of Jinneng Holdings Group's equity held by Shanxi State-owned Assets Operation Company to be directly held by Shanxi Provincial SASAC. The company's controlling shareholder remains Shanxi International Power Group, with the actual controller still being Shanxi Provincial SASAC. Recently, Jinneng Holdings Group has completed the business registration changes for the transfer of equity mentioned above. This change in equity will not affect the stability of the company's controlling interests, nor will it have any adverse effects on the company's production and operations. It also does not pose any harm to the interests of small and medium-sized shareholders.