Tianjin Binhai Energy's subsidiary resolves equity acquisition dispute, transfer amount changed to 5.5 million

Tianjin Binhai Energy Development Co., Ltd. announced the progress of its subsidiary's acquisition of 100% equity in Inner Mongolia Xinjinhua New Materials Co., Ltd. In 2023, its wholly-owned subsidiary Xiangfu New Energy planned to acquire 100% equity in Xinjinhua held by China Construction Jinma for 33 million yuan, having paid 14 million yuan. Due to China Construction Jinma's failure to perform, Xiangfu New Energy terminated the contract in 2024 and filed a lawsuit in 2025. Recently, both parties reached a settlement and signed a supplementary agreement, changing the remaining unpaid equity transfer payment from 19 million yuan to 5.5 million yuan. Subsequently, they will complete matters such as the establishment of a joint custody account, fund transfer, equity change, and withdrawal of the lawsuit according to the agreement, after which there will be no further disputes between the parties