Huaibei Mining forecasts higher related-party transactions for 2026, amends financial agreements

Huaibei Mining Holdings Co., Ltd. has approved its estimated daily connected transactions for 2026, totaling 13.67 bn yuan. This includes 3.67 bn yuan for purchase, sale, and service-related transactions, and 10 bn yuan for financial services. This follows the company’s 2025 forecast of 12.65 bn yuan in total connected transactions.

The company’s financial services agreement with Huaibei Mining (Group) Co., Ltd., its controlling shareholder, has been amended. The maximum daily deposit and loan balances will increase from 3.5 bn yuan to 4 bn yuan to meet business development needs and enhance financial service capabilities.

The board of directors also approved personnel changes, including the resignations of directors Chen Jinhua, Zhou Sixin, and Liu Jie. The proposed election of Liu Jie and Wu Rong as non-independent directors, with Zhao Shitong proposed as an employee director, will necessitate adjustments to the composition of the board's specialized committees. These proposals are subject to shareholder approval at the second extraordinary general meeting in 2025 on December 24.