Pingdingshan Tianan Coal Mining overhauls governance, expands operations

Pingdingshan Tianan Coal Mining is undergoing a significant governance restructuring, which includes the abolition of its Supervisory Board. The Audit Committee of the Board of Directors will assume supervisory responsibilities. This change necessitates revisions to the company's Articles of Association and related rules, which will be submitted for approval at the third extraordinary general meeting of 2025.

The company is also strategically expanding operations by establishing a new subsidiary, Pingdingshan Tianan Coal Mining Tianan Coal Selection Plant, to enhance operational efficiency. Concurrently, Pingdingshan Tianan Coal Mining will conduct commodity futures hedging activities, involving a maximum of 150 million yuan in margin and rights fees, to mitigate risks from fluctuating coking coal prices. These hedging activities, focused on raw materials and products, are not for speculative purposes and will utilize internal funds.

Furthermore, Pingdingshan Tianan Coal Mining is actively managing its financial position, including the use of raised funds. As of June 30, 2025, the company had utilized all of its 2,866.8391 million yuan in raised funds for projects such as intelligent mine construction and repaying financial institution loans. The company also provided a guarantee of 900 million yuan for a project loan for its holding subsidiary, Henan Chaolan Energy Technology Co., Ltd.