China Coal Energy acquires remaining 30% stake in new energy subsidiary

China Coal Energy Company Limited announced that its wholly-owned subsidiary, Pingshuo Group, will acquire a 30% equity interest in Shanxi China Coal Pingshuo New Energy Company Limited from Pingshuo Development Company for 11,493.00 yuan. This acquisition will make Shanxi China Coal Pingshuo New Energy Company a wholly-owned indirect subsidiary of China Coal Energy. The transaction price was determined by reference to the valuation of 38,310.00 yuan for the new energy company's shareholders' equity as of August 31, 2025.

The acquisition is considered a connected transaction under Hong Kong Listing Rule 14A.81 and meets disclosure requirements. The board of directors approved the acquisition with interested directors recusing themselves. The board confirmed that the profit forecast for Shanxi China Coal Pingshuo New Energy Company was made after due and careful inquiry.

Pingshuo Development Company, the seller, is 71.54% owned by China Coal Energy Group and 28.46% by Pingshuo Group. The new energy company was established in May 2022 with Pingshuo Group and Pingshuo Development Company holding 70% and 30% equity, respectively. This acquisition will streamline ownership and management, further integrating Pingshuo Mining Area's new energy industrial layout and promoting green, low-carbon development.