Jinneng Holding Shanxi Coal to hold second EGM on governance, related-party deals

Jinneng Holding Shanxi Coal Industry Company Limited (SSE:601001) will convene its second extraordinary general meeting of shareholders for 2025 on December 25, 2025, to vote on several proposals. These include abolishing the supervisory board, revising company articles and meeting rules, and an agreement for financial services with Jinneng Holding Group Finance Company. Additionally, the meeting will consider estimated daily related-party transactions for 2026 totaling RMB 578,609.65.

The proposed related-party transactions for 2026 involve diverse activities such as purchasing goods for RMB 49,716.09, fuel and power for RMB 48,440.84, labor and services for RMB 88,171.29, selling goods for RMB 336,325.00, providing services for RMB 6,216.10, leasing assets for RMB 17,039.53, and entrusted management for RMB 31,732.29, with an additional RMB 968.51 in interest on related-party borrowings. These transactions, approved by the board and independent directors, are deemed fair and beneficial to the company.

A significant item on the agenda is the approval for the subsidiary Cailian Coal Mine to continue its entrusted operation by Huiyong Holding Group Co., Ltd., which is not considered a related-party transaction or a major asset restructuring. This decision follows a positive experience with the previous entrusted management, aiming to enhance safety, improve management, and optimize economic benefits.