Shanxi Lanhua partners for intelligent, green mining transformation

Shanxi Lanhua Sci-Tech Venture (SSE:600123) and Shanghai Panggu Power Technology Co., Ltd. have signed a strategic cooperation agreement to promote intelligent, efficient, and green transformation within the coal mining industry. The collaboration will leverage their respective strengths, focusing on the application of axial flux motors in coal mining, machinery, and non-coal sectors. This framework agreement, signed in Shanghai, outlines a mutual desire for cooperation and does not involve specific transaction amounts, thus not requiring board or shareholder approval.

Key aspects of the collaboration include joint research and development of explosion-proof axial flux motors and related products for mining, establishing an intelligent manufacturing base for advanced electric drive systems, and expanding non-coal mining applications. Shanghai Panggu Power Technology, founded on September 13, 2016, with a registered capital of 22,088.7391万元, specializes in power technology, motor technology, and automotive technology development.

The agreement is a guiding document for strategic cooperation, and specific implementation will be subject to subsequent formal agreements. Shanxi Lanhua Sci-Tech Venture notes that the pact is not expected to significantly impact its operating performance in the short term, with future effects dependent on the progress of specific projects. Investors are advised to be aware of potential risks, including policy adjustments, economic environment changes, and the uncertainty of achieving expected cooperation outcomes.