Did Qiyuan acquire Qixiang Tengda in 2022?

No, Shanneng New Materials has become the "new owner" of Qi Xiang Group. Shanneng New Materials is a wholly-owned secondary subsidiary of Shandong Energy Group, and it is the main body of investment and management in the development of new materials industry of Shandong Energy Group. Shanneng New Materials Co., Ltd. is an integrated enterprise group that focuses on coal mining and develops many industries including modern high-end fine chemicals, high-quality bulk mining at home and abroad, diversified financial industries, modern logistics trade, high-end manufacturing and so on. The group also owns Yankuang Energy, a listed company.