Xin Xin Ke (002015): Subordinates Holding Subsidiaries Completed The Registration Of Industrial And Commercial Changes.

Xin Xin energy Polytron Technologies Inc's announcement on the completion of registration of industrial and commercial changes by subsidiaries

All members of the company and the board of directors guarantee the authenticity, accuracy and completeness of the information disclosure, without any false record, misleading statement or major omission.

The seventeenth meeting of the seventh board of directors of the energy company of Polytron Technologies Inc (hereinafter referred to as "the company") adopted the motion on the sale of part of the shareholding subsidiary companies in June 4, 2020. In order to further optimize the allocation of resources and optimize the ownership structure of subordinated shareholding companies, the board of directors of the company agreed to sell the Taicang Concord Waste Incineration Power Generation Company Limited (hereinafter referred to as "Taicang city investment and environmental protection") by the company's board of directors, the intelligent energy Limited by Share Ltd (hereinafter referred to as "Xinxin intelligent energy"), to sell the Taicang Concord Waste Incineration Power Generation Co., Ltd. (hereinafter referred to as "the city's environmental protection investment"). "Taicang power generation" has a 49% stake (hereinafter referred to as the "underlying equity"), and the two sides decide on the basis of the assessment price that the target transfer price is 128 million 291 thousand and 800 yuan. The specific contents are detailed in the announcement of the company's disclosure of partial shareholding subsidiaries in June 6, 2020 (Bulletin number: 2020-051).

In June 12, 2020, Xinxin intelligent energy signed a share transfer agreement with Taicang city.

Recently, the subsidiary company of Taicang power generation has completed the registration and registration procedures of shareholders, business scope, duration of operation and business type, and the filing procedures of directors, supervisors, managers, articles of association, etc., and has obtained the "business license" issued by the Taicang administrative examination and approval Bureau in June 15, 2020 and the company's notice of change of registration. Next:

Original enterprise type: limited liability company (non natural person investment or holding sole proprietorship)

Original business period: from 2004-06-14 to 2029-06-13

The original shareholder / promoter name; Xin Xin intelligent energy Limited by Share Ltd.

The original business scope: domestic waste and non-toxic harmless industrial waste incineration, electricity and steam production, sales of products produced by the company and the provision of related technical advisory services; urban garbage clearing services; electricity sales services. (legally approved projects can be launched after approval by the relevant departments).

Current enterprise type: limited liability company

The term of operation is from 2004-06-14 to * * * * * name of the shareholder / promoter; Gexin intelligent energy Limited by Share Ltd and Taicang City Investment Environmental Protection Construction Investment Co., Ltd. Business scope: domestic waste and non-toxic harmless industrial waste incineration, electricity and steam production, sales of the company's own products and related technical advisory services; urban garbage clearing services; electricity sales services. (approval of the project according to law, approved by the relevant departments, business activities) licensing project: food waste disposal. After approval by the relevant departments, the approved projects must be carried out in accordance with the law, and the specific operation items shall be subject to the examination and approval results.

According to the second article and second paragraph of the share transfer agreement, the agreement on the payment of equity price: in the 2 working days after the completion of the registration of industrial and commercial equity changes, Taicang city will pay 30% of the total share transfer price of the city's environmental protection investment, which is RMB 38 million 487 thousand and 500 yuan, and the balance will be paid within 5 working days after the equity delivery is completed. As of June 15, 2020, Xinxin smart energy has received all the equity transfer price of Taicang city's environmental protection payment of RMB 128 million 291 thousand and 800 yuan, and the transfer of ownership of the Taicang subsidiary of these subsidiaries has been completed. After the completion of the equity transfer, the company's controlling subsidiary, Xinxin intelligent energy, still owns 51% of Taicang power generation, and Taicang power generation is still included in the company's consolidated statement.

Notice hereby.

Board of directors of Xin Xin energy Polytron Technologies Inc

June 17, 2020