Haixin Energy Technology announced that on August 7, 2026, the company reviewed and passed a bill to establish a new wholly-owned subsidiary, Hainan New Products, with a registered capital of 500 million yuan, to transfer 84.6154% of its shares in Shandong Sanju and 100% of Haixin International's shares to the subsidiary according to net asset value. From January to March 2026, Shandong Sanju had revenue of 487 million yuan and net profit of 5.186,800 yuan. Haixin International had revenue of 496 million yuan and net profit of 258.715 million yuan for the same period. This consolidation does not constitute a major asset restructuring and will not have a significant adverse impact on financial and operating results.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.