Yunnan Energy Investment (002053.SZ): Signed the Termination Agreement of the Proxy Cultivation Agreement with Yunnan Energy Group

Gelonghui March 20丨Yunnan Energy Investment (002053.SZ) announced that on March 28, 2018, it was approved at the first regular meeting of the board of directors of Yunnan Energy Investment Co., Ltd. in 2018, the company signed the “Nurturing Agreement” (hereinafter referred to as the “Original Contract”) with its controlling shareholder Yunnan Energy Investment Group Co., Ltd. (which has been renamed “Yunnan Energy Group Co., Ltd.”, referred to as “Yunnan Energy Group”). Both parties agreed that Yunnan Energy Group would increase its capital in Panzhihua ChuanGang Gas Co., Ltd. (hereinafter referred to as “Panzhihua ChuanGang Gas”) in cash, holding 15% equity in Panzhihua ChuanGang Gas through this cash increase, and act on behalf of the company to nurture the above-mentioned equity investment in Panzhihua ChuanGang Gas that is not suitable for the company to implement at this time.

On March 20, 2026, the board of directors of the company passed the “Proposal on Signing the Termination Agreement of the Nurturing Agreement with Yunnan Energy Group Co., Ltd. and Related Transactions” through a recorded vote by all non-related directors at the third temporary meeting of 2026, with 7 votes in favor, 0 votes against, and 0 abstentions. Given that the company has completed the capital increase to Yunnan Shale Gas Exploration and Development Co., Ltd. through the equity of its original controlling subsidiary Yunnan Natural Gas Co., Ltd., and that Yunnan Natural Gas Co., Ltd. has not been included in the company’s consolidated financial statements since April 30, 2025, the above-mentioned target assets no longer meet the company’s business development needs, and there is no necessity to continue performing the Original Contract. The company agrees to sign the “Termination Agreement of the Nurturing Agreement” with Yunnan Energy Group, the content of the Original Contract will no longer be executed, and it will no longer be legally binding on both parties, and neither party shall bear any liability for breach of contract due to the termination matters. On March 20, 2026, the company signed the “Termination Agreement of the Nurturing Agreement” with Yunnan Energy Group in Kunming City, Yunnan Province.

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