China Ruifeng Renewable Energy Holdings Limited (the “Company”) has announced a further delay in dispatching a circular tied to its proposed Share Subscriptions, Convertible Bond Subscriptions, acquisition of a 50% equity interest in the Target Company, and related Whitewash Waiver. According to the announcement, the internal approval process at Subscriber A Holdco’s parent company, Hebei Transportation Investment Group, remains incomplete, preventing the timely submission of the Whitewash Waiver application.

The Company indicates that this delay has also affected the Target Group’s ability to finalize key supporting documents for FY2024 and 1H2025 financial statements under HKFRSs. Reporting accountants have thus been hindered in finalizing the necessary financial information. The Company is now assessing the feasibility of meeting the conditions precedent under the related agreements before 31 December 2025. Failing to satisfy or waive these conditions by that date will result in the relevant agreements lapsing.

An application was submitted to the Executive for consent to extend the time limit for dispatch of the circular to 31 December 2025. The Executive has indicated it is inclined to grant such consent. The Company advises shareholders and investors to remain cautious when dealing in its securities and will issue further announcements in accordance with the Takeovers Code and Listing Rules, as necessary.