Pingmei Group bids for 60% stake in Wusu Sikeshu Coal

Pingdingshan Tianan Coal Mining Co., Ltd. (SSE: 601666), a subsidiary of Pingmei Group, has announced its bid to acquire a 60% stake in Wusu Sikeshu Coal Co., Ltd. The acquisition is being conducted through a public auction held by the Beijing Equity Exchange, with the shares being sold by Zhongdian Xinjiang Energy Co., Ltd. The minimum bid is set at RMB 656.5 million (approximately US$95.4 million). The final transaction price and outcome remain uncertain, pending the auction results. If successful, this acquisition will expand Pingmei Group's presence in the coal sector. The company will disclose further details upon completion of the auction process. Investors are cautioned about the inherent uncertainties of the bidding process.