Huaihe Energy revises major asset acquisition report again

Huaihe Energy (Group) Co., Ltd. is progressing with its planned acquisition of an 89.30% stake in Huaihe Energy Power Group Co., Ltd. from its controlling shareholder, Huainan Mining (Group) Co., Ltd. The transaction involves both the issuance of shares and cash payments, constituting a major asset restructuring and related-party transaction, though it will not alter the company's actual control or result in a reverse takeover.

The company received an audit inquiry from the Shanghai Stock Exchange on June 6, 2025, prompting the disclosure of a revised draft report on September 12, 2025. This latest announcement on October 24, 2025, introduces further revisions to that report, updating various aspects of the transaction.

Key revisions include updates to the definitions, specifics of the asset acquisition compensation arrangements, and details related to performance commitments. Additionally, the report now provides refined information on the target company's historical development, asset ownership, operational projects, major customers, and suppliers, alongside a more comprehensive analysis of the transaction's compliance with national industrial policies and regulatory requirements.