Company: CNEY
Filing Date: 2025-10-29
Form Type: F-1/A
Source: 0001477932-25-007791
Chunk: 157

Company: CN ENERGY GROUP. INC.
Filing Date: 2025-10-29
Form: F-1/A
Chunk 157
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3328.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| (12) |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Represents 269,565 Class A Ordinary Shares held by Cheng Gu, which is 100% owned by Cheng Gu, who has the sole dispositive and investment power over the shares held. The business address of Cheng Gu is 4202-2191 Yonge Street, Toronto, Canada, M4S3H8.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| (13) |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Represents 517,391 Class A Ordinary Shares held by Taxus International Investment Company LLC, which is 100% owned by Zhiyuan Xie, who has the sole dispositive and investment power over the shares held. The business address of Taxus International Investment Company LLC is 113 Bittercress Ct., Cary NC, 27518.                                                                                                                                                                                                                                                                                                                                                                                                                                    |

<div align='center'>RELATED PARTY TRANSACTIONS</div>

The relationship and the nature of related party transactions are summarized as follow:

| Name of Related Party |     | Relationship to the Company |     | Nature of Transactions                        |
| Yefang Zhang          |     | Principal shareholder       |     | Providing working capital loan to the Company |

As of September 30, 2024 and 2023, the Company owed Yefang Zhang $611,327 and $152,556, respectively. The balance of due to related parties is interest-free, unsecured, and due upon demand.

On September 16, 2025, the Company entered into a Voting Agreement with Yefang Zhang (“Zhang”), and Weastfinace Group Inc. (“Weastfinace”), both holders of Class B Ordinary Shares.

Under the agreement, Weastfinace irrevocably appointed Zhang, and any designee of Zhang, as its proxy and attorney-in-fact to vote all 631,391 Class B ordinary shares owned by Weastfinace on all matters submitted to a vote of the Company’s shareholders. The proxy is coupled with an interest and is irrevocable to the fullest extent permitted under British Virgin Islands law. Zhang may vote such shares at her sole discretion and Weastfinace agreed not to take any action that would interfere with Zhang’s voting power.

The Voting Agreement also provides that Weastfinace will vote its shares in accordance with Zhang’s instructions and will not transfer or assign its shares unless the transferee agrees in writing to be bound by the agreement. The agreement remains in effect until