New Concepts Holdings Limited (2221) entered into an equity transfer agreement on November 26, 2025, involving the acquisition of 12% equity interest in Guangxi Ronghe Bioenergy Technology Co., Ltd. (the “Target Company”) for a total consideration of RMB24 million. According to the announcement, the purchaser is an indirect wholly-owned subsidiary of New Concepts Holdings.

Under the agreement, the sum of RMB3 million will be paid toward outstanding indebtedness owed by the vendor and its affiliates to the Target Company, while RMB21 million will settle outstanding indebtedness owed to Xiamen C&D. The purchase is based on factors including the unaudited net asset value of the Target Group as of October 31, 2025, the biofuel industry outlook, and anticipated benefits of the acquisition. Post-completion, New Concepts Holdings will hold a 12% stake in the Target Company.

The Target Company and its subsidiaries operate in the biofuel sector, producing industrial oils, biodiesel, and bioplasticizers. In the ten months ended October 31, 2025, the Target Company recorded unaudited revenue of RMB20.62 million and net profit of RMB3.02 million, while its net asset value stood at approximately RMB189.1 million as of that date. Subsidiaries Hainan Ronghe and Guangxi Ronghe Industrial also reported revenue gains in the period, reflecting the potential growth of the domestic biofuel industry.

New Concepts Holdings notes that biodiesel demand is expected to expand globally, spurred by supportive policies in regions such as the European Union and mainland China. The board believes the acquisition aligns with the group’s development strategies, aiding in broadening its business portfolio and capturing potential long-term market expansions in sustainable energy.