TBEA invests CNY 808.28m in coal supply project

TBEA Co., Ltd. [SSE:600089] announced its subsidiary, Xinjiang Tianchi Energy, will invest CNY 808.28 million in a coal supply project. The investment aims to guarantee a stable, long-term supply of raw materials for the company's 2 billion Nm³/year coal-to-natural-gas project in Zhundong. The project involves the construction of facilities for coal sorting and crushing, storage, and transportation, with an expected construction period of two years. TBEA's board of directors approved the investment on March 30, 2025. The company intends to fund CNY 243.29 million of the investment through its own capital, with the remaining funds coming from bank loans. TBEA acknowledges risks including potential construction delays, cost overruns, and insufficient coal demand post-completion.