Tianjin Binhai Energy & Development (000695.SZ) terminates the issuance of shares to purchase assets.

Tianjin Binhai Energy & Development (000695.SZ) announced that it had planned to acquire 100% equity of Cangzhou Xuyang Chemical Co., Ltd. held by Xuyang Group Limited, Xingtai Xuyang Coal Chemical Co., Ltd., Shenzhen Capital Manufacturing Industry Transformation and Upgrading New Materials Fund (Limited Partnership), and Agricultural Bank Financial Assets Investment Co., Ltd. through issuing shares, and intended to privately issue shares to raise funds from up to 35 specific investors. Since the disclosure of the transaction plan, the company and related parties have actively promoted the relevant work of the transaction. However, due to changes in the market environment compared to the initial planning stages of the transaction, after negotiation and discussion, the parties were unable to reach agreement on the related commercial terms. To effectively protect the interests of the company and all shareholders, after thorough and cautious study and friendly negotiations with the parties involved in the transaction, it was agreed to terminate the transaction and authorize management to handle the related matters of terminating the transaction.