CHINA COAL (01898) Subsidiary to Acquire Remaining 30% Stake in New Energy Company for RMB115 Million

Stock News10-27

On October 27, 2025, CHINA COAL (01898) announced that its wholly-owned subsidiary, Pingshuo Group, has entered into a share transfer agreement with Pingshuo Development Company. Under the agreement, Pingshuo Group will acquire the remaining 30% equity stake in a new energy company held by Pingshuo Development Company for RMB115 million. Upon completion of the transaction, the new energy company will become an indirectly wholly-owned subsidiary of CHINA COAL.

The new energy company, established under Chinese law in May 2022 as a joint venture between Pingshuo Group (70% stake) and Pingshuo Development Company (30% stake), specializes in renewable energy power generation, technical services, engineering management, and energy performance contracting.

This acquisition will enable Pingshuo Group to hold 100% ownership of the new energy company, streamlining property rights and management structure. The move aims to further integrate new energy industry resources within the Pingshuo mining area and advance the company's green and low-carbon development strategy.

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