XINTE ENERGY (01799) announced that on September 12, 2025, the company, the testing company, Tiancheng Energy, and the target company Xinjiang Silicon-based New Materials Innovation Center Co., Ltd. entered into a capital injection agreement. Under this agreement, Tiancheng Energy has agreed to inject RMB 35 million in cash into the target company as registered capital.
Upon completion of the capital injection, the group and Tiancheng Energy will hold approximately 61% and 39% equity stakes in the target company respectively. The target company will continue to be a subsidiary of the company, and its financial statements will continue to be consolidated into the group's consolidated financial statements. As of the announcement date, the target company is a wholly-owned subsidiary of the company.
The target company was established to conduct scientific and technological research and development work, with its main business being silicon-based materials technology research and development and services.
Tiancheng Energy owns state-approved open-pit coal mines and has long been committed to coal mining, sales, and the green development and transformation of coal resources. It has built an integrated industrial chain encompassing coal, coal power, industrial silicon, and logistics transportation. The company continuously conducts scientific research focusing on difficulties and frontier technology industrialization applications in coal mining, coal-fired power generation, coal chemical industry and other fields, establishing multi-level, multi-dimensional applied laboratories, innovation research centers and other scientific research platforms, committed to leading the new direction of energy-saving, intelligent, and environmentally friendly development in the energy extraction and transformation industry.
Tiancheng Energy's capital injection into the target company can fill the gap in the target company's scientific research practice in coal and industrial silicon industries, facilitate the collaborative innovation of upstream and downstream industries in the "coal-electricity-silicon-new energy" industrial chain, and fully leverage Tiancheng Energy's research achievements in intelligent manufacturing, energy conservation and emission reduction, coal co-firing and other fields. This will achieve complementary advantages in key common technologies and industrialization, broaden the research boundaries and application scenarios of the target company's scientific research team, continuously enhance the target company's technical research capabilities and comprehensive research abilities, and help the group drive industrial upgrading through technological innovation, enhance core competitiveness and promote high-quality development.