ENN Natural Gas Co., Ltd. (ENN-NG, Stock Code: 600803), ENN Energy Holdings Limited (ENN, Stock Code: 2688), and Xinneng (Hong Kong) Energy Investment Limited jointly provided an update on October 22, 2025, regarding the progress of the proposal to privatize ENN by way of a scheme of arrangement under Section 86 of the Companies Act and the potential withdrawal of ENN’s listing.

The parties referenced previous announcements issued since March 26, 2025, including those on April 16, April 17, April 25, April 30, May 28, June 16, July 14, August 14, August 22, and September 22, 2025. According to these communications, the proposal and related share option offer depend on fulfilling certain pre-conditions: (a) relevant filings and approvals in the PRC, (b) the approval-in-principle for the new listing from the Hong Kong Stock Exchange, (c) approvals or filings from or with the CSRC and other authorities, and (d) approval by at least two-thirds of the ENN-NG Independent Shareholders.

As of the date of this latest update, pre-condition (d) was fulfilled on May 28, 2025. ENN-NG has continued to liaise with governmental authorities to address pre-conditions (a) and (c), while the application tied to pre-condition (b) is in progress with the Hong Kong Stock Exchange. Pre-conditions (a), (b), and (c) remain unfulfilled.

Shareholders and potential investors are advised that the proposal, any associated share option offer, and the planned withdrawal of ENN’s listing remain subject to all remaining pre-conditions and other terms. The scheme may or may not become effective. Persons uncertain of their course of action should consult professional advisers.