Beijing Beijiete announced the termination of its 2025 share issuance to specific investors, which originally planned to raise no more than 1 billion yuan. The company held a board meeting on July 7, 2026, and made the decision after considering the macro environment and operational needs. It has not yet submitted application documents to the Shenzhen Stock Exchange. The private placement plan was first disclosed in June last year and later adjusted in September, removing the Shanxi ChinaCoal Pingshuo project and increasing the fundraising amount for the Kashgar project to 900 million yuan, while the total amount remained unchanged. Recently, the company's performance has been under pressure. Revenue in 2025 fell 2.75 percent year-on-year to 1.012 billion yuan, and net profit attributable to the parent company dropped 36.90 percent year-on-year to 84.0988 million yuan. In the first quarter of 2026, revenue decreased 38.55 percent year-on-year to 109 million yuan, and net profit attributable to the parent company recorded a loss of 29.909 million yuan. In addition, the company needs to pay back taxes and late fees totaling 9.8097 million yuan due to a tax self-inspection.
BGT Group Co. Ltd.Termination of 1 billion yuan private placement plan, coupled with declining revenue and net profit, and a tax payment obligation.