Yichengxin Neng: Controlling Shareholder Signs Framework Agreement for Strategic Restructuring.

Yicheng New Energy announced that on September 25, 2025, it disclosed a preliminary announcement of the strategic restructuring of the controlling shareholder. The Henan Provincial Committee and Provincial Government have decided to implement a strategic restructuring of Henan Energy Group and Pingmei Shenshi Group. On November 7, the Henan Provincial State-owned Assets Supervision and Administration Commission signed a "Strategic Restructuring Framework Agreement" with both parties. It is planned to increase capital in Pingmei Shenshi Group with 100% equity of Henan Energy Group held by them at fair value, after which Henan Energy Group will become its wholly-owned subsidiary. This restructuring still needs auditing, evaluation, and approval procedures, and does not involve major asset restructuring of the company. The controlling shareholder, actual controller, and control rights remain unchanged.