Ningbo Energy announced that its wholly-owned subsidiary, Langchen New Energy, plans to acquire 100% equity of 22 symbol companies directly or indirectly wholly controlled by the related party, Kun Energy Group, for cash. The equity consideration is 0.175 billion yuan, with the actual equity payment amount being 0.128 billion yuan after deducting the undistributed profits of 46.6566 million yuan as of the assessment benchmark date. After the acquisition is completed, Langchen New Energy intends to provide a loan of 0.243 billion yuan to the symbol companies, used to repay loans from Kun Energy Group and its related parties and to pay dividends payable. At the same time, the company will increase the capital of Langchen New Energy by 0.15 billion yuan. This trade constitutes a related party transaction and must be submitted for review by the company's shareholders' meeting. The company has not engaged in any transactions with Kun Energy Group in the past 12 months.