Huayang Group subsidiary Qiyuan transitions to formal production

Shanxi Huayang Group New Energy Company Limited (Huayang Co.) announced that its subsidiary, Yangquan Coal Industry Group Qiyuan Coal Industry Company Limited (Qiyuan Company), has successfully transitioned to formal production. This follows the acquisition of a "Safety Production License" and a production capacity announcement from Shanxi provincial authorities.

With these permits, Qiyuan Company's 5 million tons/year coal mine construction project has completed all necessary license procedures, officially moving into the production phase. The company plans to adhere to safety regulations, organize production efficiently, and leverage advanced capacity to achieve full production promptly.

This transition is a pivotal step for Huayang Co. in advancing its "dual-wheel drive" strategy, aimed at upgrading, expanding, and increasing efficiency in its core coal business. It marks a significant achievement in digital, intelligent, and green transformation, expected to boost the coal industry's scale and enhance profitability and market competitiveness. Investors are cautioned about potential risks from economic fluctuations, policy adjustments, supply-demand dynamics, or geological conditions that could impact project profitability.