突然宣布：重大资产重组，终止！已筹划半年，“市场环境生变，未能达成一致”

Core Viewpoint - Binhai Energy's major restructuring plan has been terminated after six months of efforts, impacting its strategy to alleviate profitability pressures in its main business of lithium battery anode materials and to establish a dual business model of "anode materials + nylon new materials" [2][8]. Group 1: Restructuring Plan Details - On November 14, Binhai Energy's board approved the termination of the plan to issue shares for the acquisition of 100% equity in Cangzhou Xuyang Chemical Co., which would have changed its controlling shareholder from Xuyang Holdings to Xuyang Group [2][3]. - The restructuring process began with a suspension announcement on April 30, 2025, followed by a series of board meetings and disclosures, culminating in the termination announcement after six months without substantial progress [5][6]. Group 2: Reasons for Termination - The termination was attributed to changes in the market environment since the initial planning phase, leading to a failure to reach consensus on commercial terms among the parties involved [7]. - Binhai Energy's motivation for the acquisition was to address profitability pressures in its core business, which has been facing increased competition despite rising revenue [7][8]. Group 3: Future Outlook - Following the termination, Binhai Energy stated that its current operations remain normal and that the decision will not significantly impact its existing production and strategic development [9]. - The company is focusing on expanding its market for anode materials and advancing projects related to integrated anode material production and new material research [9].