China Gas Industry Investment Holdings (CGII Holdings) and Tangde Gas Co., Limited announced that the conditional mandatory cash offer for all CGII shares not already held by Tangde Gas and its concert parties lapsed on 26 May 2026 after receiving only 74,000 valid acceptances, or 0.0062% of CGII’s issued share capital.

Including the newly tendered shares, Tangde Gas’ aggregate holding stands at 468.17 million shares, equivalent to 39.01% of CGII’s issued shares—well below the 50% threshold required to make the offer unconditional. In accordance with Rule 31.1 of the Hong Kong Takeovers Code, Tangde Gas and its concert parties are now restricted from launching another offer or acquiring additional voting rights that would trigger a new mandatory offer for 12 months.

All share certificates submitted by accepting shareholders will be returned no later than 4 June 2026.

Post-offer, CGII’s board composition will change: nominee Mr. Song Jiajun will join as executive director, while Mr. Li Jun and Mr. Chen Tianyi will take non-executive roles instead of the previously proposed executive appointments.

The announcement contains full confirmations of responsibility from both boards and notes no acquisitions, disposals or securities lending by Tangde Gas or its concert parties during the offer period other than the original 468.10 million-share block acquired on 10 February 2026.