Wintime Energy advances mine project as chairman faces CSRC investigation

Wintime Energy Group Co., Ltd. has reported substantial progress on its Haizetan Coal Mine project in Shaanxi province. With a designated capacity of 6 million tonnes per year, projected to reach 10 million tonnes per year upon full operation, the mine has seen its four shafts fully connected. Construction is ahead of schedule, with key infrastructure such as the permanent hoisting system and the main plant building completed. The project is expected to begin trial production in July 2026 and reach full production in the first quarter of 2027.

In a separate development, Wintime Energy disclosed that its chairman and de facto controller, Wang Guangxi, has received a Notice of Case Filing from the China Securities Regulatory Commission (CSRC). The investigation concerns alleged violations of information disclosure rules by Hainan Haide Capital Management Co., Ltd. and Wang Guangxi.

Wintime Energy clarified that this investigation pertains to its de facto controller's personal matters and is unrelated to the company's operations. The company's production and operations remain normal and stable.