XINXING PIPES: Plans to purchase 10% equity in its controlling subsidiary Fukang Energy for 151 million yuan

XINXING PIPES announced that it plans to purchase a 10% equity stake in its controlling subsidiary Fukang Energy for a transaction price of 151 million yuan. After the completion of this transaction, Fukang Energy will become a wholly-owned subsidiary of the company. This transaction has been approved by the fifteenth meeting of the company's tenth board of directors and does not require submission for shareholder meeting approval