Group 1 - The core point of the announcement is that YEI(HK) has acquired 201,196,995 shares of the company, representing approximately 73.05% of the issued shares, making YEI(HK) the direct controlling shareholder [1] - The share transfer was completed on December 29, 2025, and the ultimate controlling shareholder remains Yunnan Energy Investment Group Co., Ltd. (YEIG) [1] - YEI(HK) has applied for a waiver from the obligation to make a mandatory general offer for all issued shares due to acquiring over 30% voting rights, which was approved by the executive director on September 9, 2025 [1] Group 2 - The reason for the share transfer is to simplify the company's ownership structure by allowing YEI(HK) to directly hold all target shares previously held by its wholly-owned subsidiary, Baodi [2] - The company believes that the share transfer will not adversely affect its financial and operational performance [2] - The composition of the company's board of directors will remain unchanged following the share transfer [2]

Group 1 - The core announcement is that YEI(HK) has acquired 201,196,995 shares of the company, representing approximately 73.05% of the issued shares as of the announcement date, making YEI(HK) the direct controlling shareholder [1] - The ultimate controlling shareholder remains Yunnan Energy Investment Group Co., Ltd. (YEIG), unchanged before and after the share transfer [1] - YEI(HK) has applied for a waiver from the obligation to make a mandatory general offer for all issued shares due to acquiring over 30% voting rights, which has been approved by the executive director on September 9, 2025 [1] Group 2 - The reason for the share transfer is to allow YEI(HK) to directly hold all target shares previously held by its wholly-owned subsidiary, Baodi, thereby reducing the level of control and simplifying the company's ownership structure [2] - The company believes that the share transfer will not adversely affect its financial and operational performance, and the composition of the board of directors will remain unchanged [2]