Yankuang Energy: Termination of the acquisition of Highfield Resources Limited

Yankuang Energy announced that recently, as the preconditions stipulated in the Implementation Agreement and the Share Subscription Agreement were not fully met or waived before the final deadline, Yankuang Energy has issued a written notice to Highland Resources to terminate the Implementation Agreement and the Share Subscription Agreement. Upon the issuance of the written notice, the Implementation Agreement and the Share Subscription Agreement were immediately terminated. The decision to terminate the Implementation Agreement and the Share Subscription Agreement was made after careful consideration by the company and is in accordance with the agreements, and will not affect the company's current production and operation activities or have any adverse impact on the company's development, nor will it harm the interests of the company and all shareholders, especially minority shareholders. Next, Yankuang Energy will proceed with the development of the Canadian potash project in accordance with the principle of marketization, keeping in mind the overall interests of the company. Please stay tuned for further updates through company announcements.