Summary by Moomoo AI
XINTIAN GREEN ENERGY CO., LTD. (XINTIAN GREEN ENERGY) ANNOUNCED THAT ITS WHOLLY OWNED SUBSIDIARY NEW ENERGY SUPPLY CHAIN AND ASSOCIATED SUBSIDIARY HEBEI GAS SIGNED A RESERVE GAS EXCHANGE AGREEMENT ON JANUARY 26, 2024. Under the agreement, the new energy supply chain will transfer 14.46 million tons of reserve gas from Hebei Gas and pledge to return the equivalent amount of natural gas by December 31, 2024. The transaction will help optimize natural gas resource allocation, increase LNG trade supply chain business and revenue, and support Hebei's gas emergency reserve mission. This transaction is declared and announced in accordance with Chapter 14A of the Listing Rules, but due to the small size of the transaction, no independent shareholder approval is required. The Board considers that the terms of the transaction are fair and reasonable and in the overall interests of the Company and its shareholders.