Qinghai Huading (600243.SH) plans to acquire 51% of Mangya Yuanxin's shares through a capital increase of 508.38,800 yuan

Zhitong Finance App News, Qinghai Huading (600243.SH) issued an announcement. Based on the good development prospects of the natural gas industry of Mangya Yuanxin Energy Co., Ltd. (“Mangya Yuanxin”), it enhances the company's profitability and provides new growth points for future performance. On the basis of the total equity value of Mangya Yuanxin's shareholders of 488.451 million yuan (evaluation reference date July 31, 2024), the company signed an “Agreement on Capital Increase and Acquisition of Mangya Yuanxin Energy Co., Ltd.” with Yuanxin Longchang and Mangya Yuanxin Energy Co., Ltd., agreeing that the company would acquire 51% of Yamang Yuanxin's shares with a cash capital increase of 508.38,800 yuan.

Using Mangya Yuanxin as a platform and opportunity, as well as the country's leaders' position as the “national clean energy industry highland”, the next step will be to open up upstream and downstream gas sources and increase the layout of (LNG, CNG) gas station sites to optimize procurement and sales prices, and vigorously increase Mangya Yuanxin's operating income and profit level. At the same time, we will further promote the company's layout plan in the clean energy industry and accelerate the company's transformation, upgrading and development. After the acquisition is completed, Mangya Yuanxin will be included in the scope of the company's consolidated statements as a holding subsidiary of the company. This transaction will facilitate the company's clean energy layout, expand the company's business scale, and enhance future growth potential, market competitiveness and sustainable development capabilities.