Huaibei GreenGold Industry Investment Co., Ltd. (2450) disclosed that the Mayor’s Office of Huaibei Municipal People’s Government has proposed an intra-group reorganisation involving several entities under Huaibei State-owned Assets Supervision and Administration Commission (Huaibei SASAC). According to the announcement dated 24 October 2025, Huaibei Hongjian Construction Engineering Co., Ltd. will be renamed Huaibei Xinghuai Capital Holding Co., Ltd. and transferred to Huaibei SASAC, becoming wholly owned by Huaibei SASAC. Subsequently, a new entity named Huaibei City Xinghuai Mining Co., Ltd. will be established under Xinghuai Capital.

Under the proposed plan, the 74.25% shares held directly by Huaibei City Construction Investment Holding Group Co., Ltd. and the 0.75% shares held indirectly through Huaibei Cultural Tourism Investment Development Group Co., Ltd. will be transferred to the newly formed Xinghuai Mining at nil consideration. Upon completion, Huaibei SASAC will remain the ultimate beneficial owner, and the new shareholding structure will leave Xinghuai Capital with a 75% stake in Huaibei GreenGold and other shareholders with 25%.

The announcement states that the renaming and transfer of Huaibei Hongjian Construction Engineering Co., Ltd. to Huaibei Xinghuai Capital Holding Co., Ltd. are expected to be completed in November 2025, and the establishment of Xinghuai Mining is scheduled for the same month. Huaibei GreenGold, on behalf of Xinghuai Mining, has applied for a waiver from making a mandatory general offer as a result of this intra-group reorganisation, and the overall plan remains subject to relevant approval procedures. The company advises shareholders and potential investors to exercise caution when dealing in its securities.