Yankuang Energy Unit to Transfer Xintai Coal Stake for 3 Billion Yuan; Hong Kong Shares Jump 7%

MT Newswires Live03-09

Yankuang Energy (HKG:1171, SHA:600188) said its unit agreed to transfer 100% equity interest in Inner Mongolia Xintai Coal to Ordos Wulan Coal (Group) for 3.05 billion yuan through a public tender, according to a March 6 Hong Kong bourse filing.

The Chinese energy company's Hong Kong shares were up nearly 7% in Monday morning trade.

The transferor, Yankuang Energy (Ordos), signed a property rights transaction contract with the buyer, following an online bidding session held by the Shandong Property Right Exchange Center, the filing said.

After completion, Yankuang Energy will no longer hold any stake in Xintai, which will be removed from the company's consolidated financial statements.

The company said the transaction is expected to have a significant positive impact on net profit attributable to shareholders in 2026.

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