NXZ: Acquisition of 100% equity in Ningxia Electric Power Investment New Energy Co., Ltd. approved

*ST NXZ announced that the company plans to acquire 100% equity of Ningxia Electric Power Investment New Energy Co., Ltd. through significant asset replacement and cash payment. The company held a board of directors and supervisory board meeting on June 6, 2025, to review and approve the relevant proposals, and released a related announcement on June 7, 2025. Recently, the company received a reply from the Ningxia State-owned Assets Supervision and Administration Commission, which in principle agrees to the company's significant asset replacement and cash payment for asset acquisition as well as related transactions. The restructuring still needs to be approved by the company's shareholders' meeting before it can be implemented