Huaibei Mining to issue notes, announces board and management changes

Huaibei Mining Holdings Co., Ltd. will issue up to 2 billion yuan in medium-term notes with a maximum term of 15 years, pending approval from the National Association of Financial Market Institutional Investors. This initiative aims to optimize the company's debt structure and reduce financial costs.

Concurrently, the company announced management changes, with Ge Chungui resigning as director and general manager due to retirement. Qiu Dan was appointed as the new general manager, Liu Jie as board secretary, and Yin Zhaofeng as chief financial officer. The company will also nominate Zhou Eryuan as a non-independent director, subject to shareholder approval.

These changes are part of broader governance adjustments, including the abolishment of the Supervisory Board, with its functions transferring to the Board's Audit Committee. The company's first extraordinary general meeting for 2025 will be held on September 23, 2025, to vote on these proposals and review its half-year operating results.