Henan Dayou Energy's indirect shareholder advances strategic reorganization

Henan Dayou Energy Company Limited announced further progress in the strategic reorganization of its indirect controlling shareholder. The Henan Provincial People's Government State-owned Assets Supervision and Administration Commission (Henan SASAC) signed a strategic reorganization framework agreement on November 7, 2025, with Henan Energy Group Co., Ltd. and China Pingmei Shenma Holding Group Co., Ltd.

Under the agreement, Henan SASAC plans to inject its 100% equity in Henan Energy Group into Pingmei Shenma Group, based on an evaluated fair value. Following this capital increase, Henan Energy Group will become a wholly-owned subsidiary of Pingmei Shenma Group.

The strategic reorganization is still subject to further procedures, including audits, valuations, and the signing of a formal capital increase agreement. It also requires anti-monopoly review approvals for business concentration and other necessary regulatory clearances. The company confirmed that, as of now, this reorganization does not involve a major asset restructuring for Henan Dayou Energy and will not impact its normal operations or change its controlling shareholder or actual controller.