Xuetian Salt Industry to Buy Hebei Kuntian New Energy in Shares-and-Cash Deal, Shares Resume September 14

Xuetian Salt Industry (600929) disclosed a preliminary plan for a major asset restructuring on September 11, 2026. The company intends to acquire 100% of Hebei Kuntian New Energy through the issuance of shares and cash payment. The appraised value and price of the transaction assets have not yet been determined. At the same time, the company plans to raise matching funds by issuing shares to specific investors, including Hunan Salt Industry Group.

Hebei Kuntian's main business is the research and development, manufacturing and sales of lithium-ion battery anode materials.

On September 11, 2026, Xuetian Salt Industry held the 20th meeting of its fifth board of directors, at which the relevant proposals were reviewed and approved. The company's A-shares will resume trading at market open on September 14, 2026.

The transaction still requires multiple approval procedures, including a further board meeting for review, shareholder meeting review, approval by the Shanghai Stock Exchange and registration consent from the China Securities Regulatory Commission. Whether these approvals will be obtained remains uncertain.