Shanxi Lanhua's joint venture, Yamei Daning, halts production
Shanxi Lanhua Sci-Tech Venture (SSE:600123) announced today that its affiliated company, Shanxi Yamei Daning Energy Co., Ltd., has suspended production, effective immediately. The shutdown is attributed to the expiration of Yamei Daning's business license and mining capacity element announcement on May 12, 2025. Yamei Daning, a Sino-foreign joint venture established in 2000 with a registered capital of USD 53.6 million, primarily engages in coal production and sales with an annual production capacity of 4 million tons. The joint venture's term is expiring on May 12, 2025, leading to the current operational halt. AACI SAADEC (HK) Holdings Limited holds a 51% stake in Yamei Daning, while Shanxi Lanhua Sci-Tech Venture owns 41%, and Shanxi Coal Transportation and Sales Group Jincheng Co., Ltd. holds the remaining 8%. A pending arbitration regarding the extension of the joint venture is currently underway, and Shanxi Lanhua is in discussions with relevant parties to resolve the matter. The company will continue to monitor the situation and disclose any material developments.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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