Ningbo Shimao Energy (605028.SH): Termination of Share Issuance for Asset Purchase, Resumption of Trading Tomorrow

Ningbo Shimao Energy (605028.SH) announced that the company had previously disclosed its plan to purchase no less than 58.07% equity assets of Nantong Zhangding Materials Technology Co., Ltd. ("Zhangding Technology") from Shanghai Dongfuyuan Enterprise Development Center (Limited Partnership) and Shanghai Xuyin Zhangding Enterprise Development Center (Limited Partnership) through the issuance of shares and cash payment ("this transaction"). The company's stock has been suspended from trading since November 11, 2024. It is reported that since the establishment of the transaction intention with the transaction counterparty, the company has actively organized both parties to advance this transaction. However, after multiple rounds of negotiation and discussions on the transaction program, the parties were unable to reach a consensus on the final transaction conditions. The termination of the plan to purchase assets through the issuance of shares will not affect the company's normal operation and development. The company's stock will resume trading from Friday, November 15, 2024.