XINTE ENERGY (01799) announced that on September 12, 2025, the company, its testing subsidiary, Tianchi Energy, and the target company Xinjiang Silicon-based New Materials Innovation Center Co., Ltd. entered into a capital increase agreement. According to the agreement, Tianchi Energy will inject 35 million yuan in cash into the target company as registered capital.
Upon completion of the capital increase, the group and Tianchi 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 related services.
Tianchi Energy owns state-approved open-pit coal mines and has long been committed to coal mining, sales, and green development and transformation of coal resources. The company has built an integrated industrial chain encompassing coal, coal power, industrial silicon, and logistics transportation. It continuously conducts scientific research in addressing challenges and frontier technology industrialization applications in coal mining, coal-fired power generation, and coal chemical industries, establishing multi-level, multi-dimensional applied laboratories, innovation research centers, and other scientific research platforms. The company is dedicated to leading new directions in energy extraction and transformation industries toward energy-efficient, intelligent, and environmentally friendly development.
Tianchi Energy's capital injection into the target company can fill the research and practice gaps in coal and industrial silicon industries for the target company, facilitating collaborative innovation across the "coal-electricity-silicon-new energy" industrial chain. This investment allows full utilization of Tianchi Energy's research achievements in intelligent manufacturing, energy conservation and emission reduction, and coal co-firing. Both parties can achieve complementary advantages in key common technologies and industrialization, expanding the research boundaries and application scenarios for the target company's research team, continuously enhancing the target company's technological research capabilities and comprehensive research capacity. This will help the group drive industrial upgrading through technological innovation, enhance core competitiveness, and promote high-quality development.