Company: CNEY
Filing Date: 2025-10-29
Form Type: F-1/A
Source: 0001477932-25-007791
Chunk: 193

Company: CN ENERGY GROUP. INC.
Filing Date: 2025-10-29
Form: F-1/A
Chunk 193
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 the date of the Agreement.

On September 25, 2024, the Company, through its wholly owned subsidiaries in China, Zhejiang CN Energy and Manzhouli CN Energy, entered into a Share Transfer Agreement (the “Agreement No. 2”) with Xinbaocheng Industrial Group Co., Ltd. (“Xinbaocheng”). Pursuant to the Agreement No. 2, Zhejiang CN Energy agreed to transfer 90% of its equity in CN Energy Development and its subsidiaries (Khingan Forasen and Zhongxing Energy), and Manzhouli CN Energy agreed to transfer its 10% of equity in CN Energy Development to Shanghai Xinbaocheng Industrial Group Co., Ltd. (“Xinbaocheng”) for a total purchase price of RMB138,204,751 (approximately $19,690,929), which shall be paid by Xinbaocheng in installments according to the schedules set forth in the Agreement.

Currently, CN Energy has subsidiaries in countries and jurisdictions including the PRC, Hong Kong, the British Virgin Islands, and the State of Delaware. Details of the subsidiaries of CN Energy are set out below:

| Name of Entity                 
 CN Energy                      
 Energy Holdings                |     | Date of           
 Incorporation     
 November 23, 2018 
 August 29, 2013   |     | Place of               
 Incorporation          
 British Virgin Islands 
 Hong Kong, China       |     | % of      
 Ownership 
 Parent    
 100%      |     | Principal Activities                                   
 Holding company                                        
 Holding company                                        |
|:-------------------------------|:----|:------------------|:----|:-----------------------|:----|:----------|:----|:-------------------------------------------------------|
| Zhejiang CN Energy             |     | January 14, 2019  |     | Zhejiang, China        |     | 100%      |     | Holding company                                        |
| Manzhouli CN Energy            |     | January 24, 2019  |     | Inner Mongolia, China  |     | 100%      |     | Holding company                                        |
| Manzhouli CN Technology        |     | June 10, 2019     |     | Inner Mongolia, China  |     | 100%      |     | Holding company                                        |
| Zhejiang New Material          |     | May 24, 2021      |     | Zhejiang, China        |     | 100%      |     | Produce and sell wading activated