Jiangxi Tungsten to take control of Anyuan Coal in state-backed restructure

Jiangxi Tungsten Holding Group will become the new controlling shareholder of Anyuan Coal Industry Group (SSE:600397) following a state-orchestrated, no-cash share transfer. Jiangxi Energy Group, the current controlling shareholder, will transfer its entire 39.34% stake (389,486,090 shares) in Anyuan Coal to Jiangxi Tungsten. The transaction aims to optimize state-owned asset allocation and operational efficiency. While the controlling shareholder will change, the ultimate control will remain with the Jiangxi State-owned Assets Supervision and Administration Commission. The deal requires approvals from relevant authorities, including the State-owned Assets Supervision and Administration Bureau and the Shanghai Stock Exchange. Jiangxi Tungsten has committed to maintaining Anyuan Coal's independent operations and avoiding conflicts of interest.