Beijing Gas Blue Sky Holdings Limited (stock code: 6828) announced an update regarding its litigation with Yu Pengnian Management (Shenzhen) Co., Limited and the involvement of Hangzhou Pengnian Qingran Equity Investment Partnership (Limited Partnership) (Fund 47), Zhangjiakou Qidi New Energy Co., Ltd. (Target Company 47), and Zhejiang Xinxin Assets Management Co., Limited (Zhejiang Xinxin). The parties reached a mediation agreement under the Higher People’s Court of Zhejiang Province.

According to the mediation terms, Beijing Gas Blue Sky Holdings Limited shall pay RMB12.64 million to Yu Pengnian Management (Shenzhen) Co., Limited. In turn, the 99% interest in Fund 47, registered in the Claimant’s name, will belong to Beijing Gas Blue Sky Holdings Limited or its designees. Together, the Company and the Claimant will also pay RMB650,000 and RMB200,000, respectively, to Zhejiang Xinxin; the remaining 1% interest in Fund 47 will revert to the Company or its designees. Upon completion, Beijing Gas Blue Sky Holdings Limited or its designees will own 100% of Fund 47, which holds 40% of Target Company 47. Final payments must be made on or before 30 November 2025, and any default may be enforced by the relevant authorities.

As part of the settlement, total court fees of RMB245,494 and RMB23,837 will be borne by the Company and the Claimant, respectively. The Board of Beijing Gas Blue Sky Holdings Limited indicated that considerations around evidence presented by the Claimant, legal opinions, and resource allocation led to the decision to settle. As a result of this agreement, all actions in the litigation are concluded, and Target Company 47 will not become a subsidiary of the Company. The Company intends to use internal financial resources to fulfill its payment obligations under the mediation agreement.