Yankuang Energy Group Company Limited announced that its non-wholly-owned subsidiary, Wubo Technology, submitted a formal listing application on 30 June 2026 to the Hong Kong Stock Exchange Main Board. The move marks a key milestone in the previously disclosed spin-off plan.

As at the announcement date, Yankuang Energy directly owns 45.00 % of Wubo Technology and effectively controls 48.01 % of its voting rights through a voting rights entrustment arrangement. Following the contemplated listing, Wubo Technology will remain a consolidated, non-wholly-owned subsidiary of Yankuang Energy, so no material impact on the group’s financial position, operating results, or continued operations is expected.

The Hong Kong Stock Exchange has confirmed that the transaction meets the requirements of Practice Note 15 of the Listing Rules; all percentage ratios under Chapter 14 are estimated to be below 5 %, meaning the spin-off does not constitute a discloseable transaction and does not require additional shareholder approval.

In line with PN15 requirements, Yankuang Energy will provide assured entitlements in Wubo Technology’s H-shares only to existing H-shareholders of the parent company, subject to final terms and regulatory clearances. The relevant special resolution was approved at the 2025 Annual General Meeting on 26 June 2026.

Strategically, management believes separating Wubo Technology—focused on smart logistics platform and integrated supply-chain services—will sharpen its operational focus, broaden financing channels, and enhance brand credibility, while allowing Yankuang Energy to optimize its overall business layout and maintain industrial synergies.

The spin-off remains contingent on regulatory approvals and market conditions. Yankuang Energy will issue further announcements as developments occur and advises investors to exercise caution when dealing in its securities.