Jineng Shanxi Coal to revamp governance, forecast 2026 transactions

Jineng Holding Shanxi Coal Industry Company Limited (Jineng Shanxi Coal) will undergo a major corporate governance overhaul, including the abolition of its supervisory board. The board's audit committee will absorb its functions. This change is part of a broader revision of the company's articles of association, which also renames "shareholders' general meeting" to "shareholders' meeting" and adjusts the board of directors' composition from 15 to 9 members. Other governance documents, such as the rules of procedure for shareholders' meetings and the rules of procedure for board meetings, will also be updated.

In addition to governance reforms, Jineng Shanxi Coal plans to sign a financial services agreement with Jineng Holding Group Finance Company for a term of three years. This agreement includes a maximum daily deposit balance of 15 bn yuan (including accrued interest) and a maximum daily comprehensive credit line of 15 bn yuan (including accrued interest).

The company also projects significant related-party transactions for 2026, with an estimated total value of 578,609,650 yuan. Key categories include the purchase of goods, fuel and power, and labor/services from various Jineng Holding Group entities and their subsidiaries. For instance, projected purchases of goods from the coal industry group and other subsidiaries are expected to reach 37,170,680 yuan. The company states that these transactions are essential for its operations and will be conducted at fair market prices to protect shareholder interests.