Pingdingshan Tianan Coal Mining appoints new auditor, plans board election

Pingdingshan Tianan Coal Mining (SSE:601666) announced the appointment of Zhizhong Certified Public Accountants (Special General Partnership) as its auditor for the 2025 financial year, replacing Henan Shouzhen Innovation Certified Public Accountants (Special General Partnership). This change, effective for a one-year term, follows an open tender process and has been approved by the company's board of directors, with the audit committee conducting a prior review. The audit fees for 2025 are set at CNY 118 million for financial statement auditing and CNY 60 million for internal control auditing, reflecting an increase of CNY 18 million for financial statement auditing compared to 2024.

Additionally, the company will hold its Fourth Interim Shareholders' Meeting on December 31, 2025, to approve the auditor change and the election of the new tenth board of directors. The meeting will include the election of nine non-independent directors and five independent directors, with the term of the ninth board of directors expiring on January 5, 2025.

Other proposals for the shareholders' meeting include applications for comprehensive credit facilities totaling CNY 2.5 billion from China Postal Savings Bank and up to CNY 500 million in trust loans from CITIC Trust Co., Ltd. These financial arrangements are intended to support Pingdingshan Tianan Coal Mining's stable operations and meet its working capital needs.