China Shenhua Energy Company Limited has finalised its previously announced A-share private placement, raising gross proceeds of RMB 20.00 billion via the issuance of 457.67 million new A shares at RMB 43.70 per share. Net proceeds, after deducting RMB 32.08 million in underwriting fees and RMB 0.43 million in other expenses, total RMB 19.97 billion. All funds will be used to satisfy cash consideration and related costs for the company’s recently completed asset acquisition involving 12 target entities.

The new shares, each carrying a par value of RMB 1.00, represent approximately 2.11% of China Shenhua’s enlarged share capital. Post-issuance, total shares outstanding increased from 21.23 billion to 21.69 billion, of which 8.40% are subject to a six-month lock-up. The placement was executed under the company’s general mandate and complied with Shanghai Stock Exchange and Hong Kong Listing Rules, with the final price equating to a 4.53% premium over the benchmarked Hong Kong H-share price.

Thirteen institutional investors participated in the book-build, led by Taiping Asset Management (94.96 million shares; RMB 4.15 billion) and China Life Asset Management (91.53 million shares; RMB 4.00 billion). No single subscriber became a substantial shareholder as a result of the transaction, and public-float requirements remain satisfied.

China Shenhua’s largest shareholder, China Energy Investment Corporation, retains a 69.97% stake post-issuance, leaving overall control and corporate governance structures unchanged. The net proceeds will strengthen the balance sheet, lowering the company’s leverage, while supporting integration costs related to the newly acquired assets—among them full stakes in Guoyuan Power, Xinjiang Energy and several other energy and infrastructure companies.

The newly issued shares were registered on 7 April 2026 with China Securities Depository and Clearing Corporation Limited’s Shanghai branch and will be eligible for trading on the Shanghai Stock Exchange after the lock-up period expires.