Zhaoxin Co., Ltd. (002256.SZ): Termination of the coal mine low-concentration gas (lack of wind) destruction and comprehensive utilization of waste heat

Zhitong Finance App News, Zhaoxin Co., Ltd. (002256.SZ) issued an announcement. On November 7, 2025, the company and Zhejiang Yiyang Energy Technology Co., Ltd. (hereinafter referred to as “Yiyang Energy”) signed a “Strategic Cooperation Framework Agreement” and “Investment Cooperation Agreement for Coal Mine Low Concentration Gas (Exhausted Wind) Destruction and Waste Heat Comprehensive Utilization Project” to jointly fund the “Qianjiaying Coal Mine Low Concentration Gas Utilization Project” (hereinafter referred to as “Qianjiaying Project”) and gas utilization projects of the same type. In the process of advancing the project, all parties confirmed that the project implementation conditions had changed compared to the project establishment stage: the actual amount of usable gas had decreased compared to the initial project establishment estimates, and the technical plan needed to be adjusted accordingly; approval procedures for supporting off-site transportation pipeline construction have not yet been approved, involving compensation and construction coordination among relevant parties along the route, increasing uncertainty about construction costs and progress.

After careful evaluation of the project's subsequent investment, construction cycle and return on investment, in order to optimize resource allocation and control investment risks, the company signed an “Equity Transfer Agreement” with Yiyang Energy and Trillion Carbon Cooperative on November 10, 2026. The company transferred 55% of its shares to Yiyang Energy at a transfer price of RMB 5.6 million. This transaction is a commercial decision made by all parties based on the actual situation of the project and their respective business arrangements. On the same day, the three parties signed the “Termination of Cooperation Agreement” to agree on the termination of the cooperative relationship and related aftercare arrangements under the original “Investment Cooperation Agreement”.