Huaihe Energy Group's acquisition clears major Shanghai Stock Exchange hurdle

Huaihe Energy (Group) Co., Ltd. has received approval from the Shanghai Stock Exchange M&A and Restructuring Committee ("SSE M&A Committee") for its proposal to issue shares and pay cash to acquire 89.30% equity in Huaihe Energy Power Group Co., Ltd. from its controlling shareholder, Huainan Mining (Group) Co., Ltd. This transaction was approved during the SSE M&A Committee's 17th review meeting on November 5, 2025.

According to an announcement, the SSE M&A Committee concluded that the transaction meets restructuring conditions and information disclosure requirements.

While approved by the SSE M&A Committee, the transaction is still subject to registration approval from the China Securities Regulatory Commission before it can be implemented. The company emphasized that there is uncertainty regarding obtaining this registration and its timeline. Huaihe Energy Group committed to promptly fulfilling its information disclosure obligations and advised investors to be aware of the investment risks.