China Coal Energy acquires remaining 30% stake in New Energy Company

Pingshuo Group, a wholly-owned subsidiary of China Coal Energy Company Limited, has agreed to acquire the remaining 30% equity interest in Shanxi China Coal Pingshuo New Energy Co., Ltd. from Pingshuo Development Company for RMB114,930,000. This transaction will make New Energy Company an indirect wholly-owned subsidiary of China Coal Energy, streamlining property rights and management relationships, and integrating new energy development within the Pingshuo Mine Area.

The acquisition is classified as a connected transaction under Hong Kong Listing Rules due to Pingshuo Development Company's relationship with China Coal Group, the controlling shareholder. The valuation of New Energy Company’s shareholders’ equity was RMB383,100,000 as of August 31, 2025, an increase of 8.26% from its carrying value. For the eight months ended August 31, 2025, New Energy Company reported a profit after taxation of RMB1,110,410.

China Coal Energy also released its Third Quarterly Report for 2025, showing operational revenue of RMB36,148,319 for the reporting period, a 23.8% decrease year-on-year. Net profit attributable to shareholders for the reporting period was RMB4,779,929. The company also detailed changes in various accounting items, including a 47.6% decrease in receivables financing and a 74.3% increase in short-term borrowings, citing reasons such as reduced bank acceptance notes and initial loans for key projects.