Announcement on Suspension of Planned Share Issuance to Purchase Assets

About this update from Ningbo Shimao Energy Co., Ltd. Class A

Ningbo Shimao Energy Co., Ltd. is planning to issue shares and pay cash to purchase the controlling interest of Nantong A.D Dawning Material Co., Ltd.The Company has applied to the SSE to halt trading of its shares as the transaction is still in the planning stage and involves several uncertainties. As a result, trading was halted on November 11, 2024, and will remain halted from the market's opening on November 12, 2024. The estimated (accumulated) suspension period is expected to be no longer than 10 trading days. The abstract is for reference only. Please refer to the full text of the announcement on the very day. Link of Full Text for Reference: View Attachment

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