Summary by Moomoo AI
Yamagao Xin Energy announced on February 6, 2024 that its flagship subsidiary, Yamagao Thermal, has entered into supplemental agreements with Sellers A to F, and has signed a Consistent Action Agreement with certain vendors (except Seller A). These supplemental agreements will replace the original repurchase agreements and make adjustments to the registered capital of Mountain High Power, which will be reduced from RMB960,000,000 to RMB672,000,000. Upon completion of these supplemental agreements, Yamagao Thermal will become an indirect wholly-owned subsidiary of Yamagoshin Energy. The Board of Directors stated that these changes were based on changes in the macroeconomic environment and in order to maximize the interests of the company and shareholders, and considered the agreements to be in the overall interests of the company and shareholders.