Company: CNEY
Filing Date: 2025-10-29
Form Type: F-1/A
Source: 0001477932-25-007791
Chunk: 183

Company: CN ENERGY GROUP. INC.
Filing Date: 2025-10-29
Form: F-1/A
Chunk 183
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 SEPTEMBER 30, 2024, 2023, AND 2022 |     | PAGE(S) 
 F-2     
 F-3     
 F-4     |
|:---------------------------------------------------------------------------------------------------------------------------------------|:----|:--------|
| CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY FOR THE FISCAL YEARS ENDED SEPTEMBER 30, 2024, 2023, AND 2022               |     | F-5     |
| CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE FISCAL YEARS ENDED SEPTEMBER 30, 2024, 2023, AND 2022                                    |     | F-6     |
| NOTES TO CONSOLIDATED FINANCIAL STATEMENTS                                                                                             |     | F-7     |

INDEX TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

| Contents                                                                                                                                      
 Unaudited Condensed Consolidated Balance Sheets as of March 31, 2025 and September 30, 2024                                                   
 Unaudited Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) for the Six Months Ended March 31, 2025 and 2024 |     | Page 
 F-33 
 F-34 |
|:----------------------------------------------------------------------------------------------------------------------------------------------|:----|:-----|
| Unaudited Condensed Consolidated Statements of Changes in Shareholders’ Equity for the Six Months Ended March 31, 2025 and 2024               |     | F-35 |
| Unaudited Condensed Consolidated Statements of Cash Flows for the Six Months Ended March 31, 2025 and 2024                                    |     | F-36 |
| Notes to Unaudited Condensed Consolidated Financial Statements                                                                                |     | F-37 |

| F-1 |

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders and Board of Directors

CN Energy Group. Inc.

Opinion on the Financial Statements

We have audited the accompanying consolidated balance sheets of CN Energy Group. Inc. and its subsidiaries (the “Company”) as of September 30, 2024 and 2023, the related consolidated statements of income (loss) and comprehensive income (loss), changes in shareholders’ equity, and cash flows for the years ended September 30, 2024, 2023, and 2022, and the related notes (collectively referred to