Jiangxi Bestoo Energy Co Ltd

Baitong Energy announced that its controlling shareholder, Beijing Baitong Huanyu Technology Co., Ltd., increased its stake by subscribing to shares issued by the company to specific investors. As the sole subscriber, Baitong Huanyu paid cash in full for 27.7 million new shares in Baitong Energy's private placement at 8.51 yuan per share, for a total of approximately 236 million yuan. The new shares were registered in August 2026. After the issuance, Baitong Huanyu's shareholding rose from 19.53 percent to 24.09 percent. Following the increase, Baitong Huanyu and its concert parties together hold 55.50 percent of the company, up from 52.83 percent. The company's controlling shareholder and actual controller remain unchanged.

Baitong Energy announced that it has received an approval from the China Securities Regulatory Commission, granting consent for the company's registration application to issue shares to specific investors. The approval is valid for 12 months from the date of consent. The company's board of directors will handle related matters in accordance with regulations and fulfill information disclosure obligations in a timely manner.