Huaihe Energy Group gets final nod for major asset acquisition

Huaihe Energy (Group) Co., Ltd. (SSE:600575) announced on November 22, 2025, that it received approval from the China Securities Regulatory Commission on November 21, 2025, for its asset acquisition and share issuance. The transaction involves acquiring an 89.30% equity stake in Huaihe Energy Power Group from its controlling shareholder, Huainan Mining (Group) Co., Ltd., through a combination of share issuance and cash payments totaling 11.69bn yuan. This constitutes a major asset restructuring and a connected transaction.

The acquisition will be executed via a share issuance of 3,280,531,105 shares at 3.03 yuan per share, alongside a cash payment of 1.75bn yuan. The shares will be listed on the Shanghai Stock Exchange. The approval is valid for 12 months from the date of issuance. Post-acquisition, Huainan Mining’s stake in Huaihe Energy Group will increase to 80.08%, solidifying its controlling shareholder position. The transaction is expected to enhance Huaihe Energy Group’s asset quality and improve its sustainable profitability.