Hengyuan Coal & Power to acquire coal assets from Shaanxi Black Cat

Anhui Hengyuan Coal Industry And Electricity Power (Hengyuan Coal & Power) announced its plan to acquire 100% equity in Zhangye Hongneng Coal Industry Co., Ltd. and Zhangye Hongneng Changsheng Energy Co., Ltd. from Shaanxi Black Cat Coking Co., Ltd. The total equity transaction price is yuan 439,859,325.38. Additionally, Hengyuan Coal & Power will assume Shaanxi Black Cat’s creditor rights against the target companies totaling yuan 1,136,854,543.79.

The acquisition aims to expand Hengyuan Coal & Power's primary business and enhance its sustainable development capabilities by increasing resource reserves. The transaction was approved by the company's eighth board of directors.

The valuation of the target companies' equity was based on an asset-based assessment as of August 31, 2025. Hongneng Coal Industry operates the Huacaotan Coal Mine with an annual production capacity of 1.8 million tons of 1/3 coking coal, holding proven and controlled resources of 6,845.19 million tons. Changsheng Energy includes a 3 million tons/year coal washing plant.