Shenma Co., Ltd. announced that the company received a notice from China's Pingmei Shenma Group, the controlling shareholder, that China's Pingmei Shenma Group and Henan Energy Group intend to proceed with the absorption and merger. The merger has China's Pingmei Shenma Group as the surviving entity. After the merger is completed, all assets, liabilities, and business of the former Henan Energy Group will be inherited by the surviving company in accordance with law. After the implementation of this absorption and merger, the controlling shareholder and actual controller of China's Pingmei Shenma Group is still the Henan Provincial State-owned Assets Administration Commission. The controlling shareholder and actual controller of the company will not change, and it will not have a significant impact on the normal production and operation of the company. This merger and absorption matters still require preliminary procedures such as legal approval and creditor notification.

Shenma Co., Ltd. announced that the company received a notice from China's Pingmei Shenma Group, the controlling shareholder, that China's Pingmei Shenma Group and Henan Energy Group intend to proceed with the absorption and merger. The merger has China's Pingmei Shenma Group as the surviving entity. After the merger is completed, all assets, liabilities, and business of the former Henan Energy Group will be inherited by the surviving company in accordance with law. After the implementation of this absorption and merger, the controlling shareholder and actual controller of China's Pingmei Shenma Group is still the Henan Provincial State-owned Assets Administration Commission. The controlling shareholder and actual controller of the company will not change, and it will not have a significant impact on the normal production and operation of the company. This merger and absorption matters still require preliminary procedures such as legal approval and creditor notification.