Huaibei Mining to review related party deals, board changes in December meeting

Huaibei Mining Holdings Co., Ltd. will hold its second extraordinary general meeting of shareholders for 2025 on December 24, 2025, to deliberate on proposed 2026 related party transactions and elect new board members. The meeting will address a projected total of yuan 1,367,000.00 in related party transactions for 2026, comprising yuan 367,000.00 for procurement, sales, and services, and yuan 1,000,000.00 for financial services.

For 2025 (January-November), the company’s actual related party transactions for procurement, sales, and services amounted to yuan 197,027.42, while financial services totaled yuan 609,234.74. The board noted that lower-than-expected progress on certain projects and delayed environmental technology service needs contributed to variances in the 2025 figures compared to initial estimates.

Additionally, the meeting will consider the election of Mr. Liu Jie and Ms. Wu Rong as non-independent directors to fill vacancies left by the resignations of Mr. Chen Jinhua and Mr. Zhou Dixian, who are stepping down due to work requirements and retirement, respectively. The board has confirmed that these related party transactions are essential for ongoing operations and maintain fair pricing based on market rates.