XCEC(SH:600777) Shang Hai Zheng Quan Bao·2025-05-08 20:52Summary of Key Points Core Viewpoint - The offer to acquire shares of Shandong Xinchao Energy Co., Ltd. by Zhejiang Jindi Petroleum Exploration and Development Co., Ltd. has not met the necessary conditions for effectiveness, resulting in the acquisition being void from the start [2][7]. Group 1: Acquisition Details - Zhejiang Jindi Petroleum made a partial offer to acquire 1,360,099,165 shares, representing 20.00% of the total share capital of ST Xinchao, at a price of 3.10 yuan per share [2]. - The offer period was set for 30 calendar days, from April 8, 2025, to May 7, 2025 [2]. - The acquisition required a minimum acceptance of 544,039,666 shares, which is 8.00% of the total shares, for the offer to be effective [2]. Group 2: Offer Results - As of May 7, 2025, the total number of shares accepted in the offer was only 9,631,998 shares, accounting for 0.14% of the total shares, which did not meet the required threshold [7]. - Consequently, the offer was deemed ineffective, and the shares that were tendered will not be accepted by the acquirer [7]. Group 3: Purpose of the Acquisition - The purpose of the acquisition was to increase the holding ratio in ST Xinchao to enhance the stability of the company's equity structure and to gain control over the company, based on Jindi's recognition of the company's value and future prospects [2]. Group 4: Compliance and Reporting - The acquisition was classified as a voluntary offer and was not intended to terminate the listing status of the company [3]. - The company has disclosed all relevant information through designated media, including Shanghai Securities News and the Shanghai Stock Exchange website [7].