CHINA COAL (01898) announced that on October 27, 2025, its wholly-owned subsidiary, Pingshuo Group, entered into a share transfer agreement with Pingshuo Development Company. Under the agreement, Pingshuo Group will acquire a 30% stake in New Energy Company held by Pingshuo Development Company for RMB 115 million. Upon completion of the transaction, New Energy Company will become an indirect wholly-owned subsidiary of CHINA COAL.

New Energy Company, established in May 2022 under Chinese law, was jointly funded by Pingshuo Group and Pingshuo Development Company, holding 70% and 30% stakes respectively. It specializes in new energy power generation, technical services, engineering management, and energy performance contracting.

The acquisition will grant Pingshuo Group full ownership of New Energy Company, streamlining property rights and management while consolidating new energy industry arrangements in the Pingshuo mining area. This move aligns with the company's commitment to green and low-carbon development.