Company: CNEY
Filing Date: 2025-10-29
Form Type: F-1/A
Source: 0001477932-25-007791
Chunk: 231

Company: CN ENERGY GROUP. INC.
Filing Date: 2025-10-29
Form: F-1/A
Chunk 231
---
         - |     |           |       - |     |                       |           - |   |     |                     |          - |   |     |                     |     523,200 |   |
| Net income for the period                                    |     |                         |       - |   |     |        |           - |   |     |                         |     - |     |        |         - |     |                    |         - |     |           |       - |     |                       |   6,928,242 |   |     |                     |          - |   |     |                     |   6,928,242 |   |
| Foreign currency translation loss                            |     |                         |       - |   |     |        |           - |   |     |                         |     - |     |        |         - |     |                    |         - |     |           |       - |     |                       |           - |   |     |                     | (4,779,435 | ) |     |                     |  (4,779,435 | ) |
| Balance as of March 31, 2025                                 |     |                         | 781,320 |   |     | $      | 107,769,910 |   |     |                         | 4,028 |     | $      | 4,231,055 |     | $                  | 8,865,199 |     | $         |  14,990 |     | $                     |  (9,813,185 | ) |     | $                   | (8,723,545 | ) |     | $                   | 102,344,424 |   |

<div align='center'>The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.</div>

| F-35 |

<div align='center'>CN ENERGY GROUP. INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS</div>

| Cash flows from operating activities:                                           |     | For the Six Months Ended March 31, 
 2025                               |            |   |     | 2024 |            |   |
|:--------------------------------------------------------------------------------|:----|:-----------------------------------|-----------:|:--|:----|:-----|-----------:|:--|
| Net income (loss)                                                               |     | $                                  |  6,928,242 |   |     | $    | (2,955,367 | ) |