Qingdao Tianneng Heavy Industries (300569.SZ) terminates the listing and transfer of its wholly-owned subsidiary, Yuangjing Huili, with a 100% stake.

Qingdao Tianneng Heavy Industries (300569.SZ) announced that the company plans to publicly list and transfer 100% equity of its wholly-owned subsidiary Jiangyin Yuanjing Huili Energy Co., Ltd. ("Yuanjing Huili"). The proposal was approved at the 46th meeting of the fourth board of directors and the 36th meeting of the fourth board of supervisors held on September 25, 2024. After the expiration of the pre-listing period, the company conducted further market research and analysis and determined that the likelihood of a successful listing transaction is low. Therefore, the decision was made to terminate the proposed public listing and transfer of the equity of Yuanjing Huili.