Company: CNEY
Filing Date: 2025-10-29
Form Type: F-1/A
Source: 0001477932-25-007791
Chunk: 218

Company: CN ENERGY GROUP. INC.
Filing Date: 2025-10-29
Form: F-1/A
Chunk 218
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 the biomass electricity are one integrated process and inseparable. Therefore, the Company has determined that it has only one operating segment and therefore one reportable segment as defined by ASC.

The following table presents revenue by major product categories for the fiscal years ended September 30, 2024, 2023，and 2022, respectively:

|                     |     | For the years ended September 30, |       2024 |     |   |       2023 |     |   |       2022 |
|:--------------------|:----|:----------------------------------|-----------:|:----|:--|-----------:|:----|:--|-----------:|
| Activated carbon    |     | $                                 | 50,957,974 |     | $ | 57,879,320 |     | $ | 39,925,693 |
| Biomass electricity |     |                                   |          - |     |   |     19,776 |     |   |    150,716 |
| Technical service   |     |                                   |          - |     |   |          - |     |   |    129,177 |
| Total               |     | $                                 | 50,957,974 |     | $ | 57,899,096 |     | $ | 40,205,586 |

All of the Company’s long-lived assets are located in the PRC. All of the Company’s products are sold in the PRC.

| F-24 |

Note 17 - Shareholders’ equity

CN Energy is a holding company established under the laws of the British Virgin Islands on November 23, 2018. The Company had an unlimited number of Class A ordinary shares of no par value and an unlimited number of Class B ordinary shares of no par value.

On January 18, 2024, the Company consolidated its issued and outstanding ordinary shares from 70,449,781 Class A ordinary shares of no par value and 3,020,969 Class B ordinary shares of no par value to 2,348,326 Class A ordinary shares of no par value and 100,698 Class B ordinary shares of no par value, on a 30:1 basis. As a result of reverse share split, 250 Class A ordinary shares were acquired from the market and were cancelled accordingly. The Company believes the share consolidation should be accounted for on a retroactive basis pursuant to ASC 260. The Company has retroactively restated all shares and per