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According to Sinochem New Network, recently SNOW Energy issued a statement indicating that the process of privatizing SNOW Energy and listing it on the Hong Kong Stock Exchange through an introduction process has completed the registration procedures with the **Foreign Exchange Administration, thus meeting another important prerequisite. New Oak Energy stated that this move will fully leverage synergies in terms of business integration, capital management, and corporate governance, thereby strengthening its strategic position as an operator of a integrated natural gas industry chain, with the goal of becoming a leader in the global energy transition. SNOW Energy stated that this transaction was approved by over 99.9% of the shareholders of SNOW Energy, the registration process with the National Development and Reform Commission was completed in August, and the registration process with the Ministry of Commerce was finalized recently. The completion of registration with the **Foreign Exchange Administration marks the finalization of all procedures for the filing and approval of this direct foreign investment. So far, two of the four prerequisites have been met. The remaining two prerequisites are the relevant procedures for listing introduction by the Hong Kong Stock Exchange and the China Securities Regulatory Commission. Once all prerequisites are met, New Energy will send out a circular and convene a shareholders’ meeting to consider the privatization proposal. Meanwhile, SNOW Energy plans to list on the Hong Kong Stock Exchange, aiming to use \"H shares + cash\" as a form of payment to provide some liquidity support for the privatization of SNOW Energy. This listing will also help integrate the business resources of SNOW Energy and SNOW Gas in the upstream and downstream sectors of natural gas, thereby creating synergies, improving operational efficiency, and further enhancing its appeal in the capital market.