Perennial Energy Holdings Limited (stock code: 2798) announced that the previously planned coal mine consolidation involving Guizhou Wantian Coal Mining Company Panzhou Yuni Village Wantian Coal Mine and Guizhou Huaneng Jiayuan Coal Co., Ltd. Pan County Youyi Coal Mine will not proceed. The decision was reached by all participating parties after considering regulatory factors, market conditions, commercial alignment, and strategic priorities.

According to the announcement, Perennial Energy maintains its focus on coal resource integration and has submitted a new 2025 coal mine consolidation proposal with Guizhou Huaneng Jiayuan Coal Co., Ltd. on 28 October 2025. This new plan involves Xiejiahegou Coal Mine, owned indirectly by Perennial Energy, and Youyi Coal Mine, owned by Huaneng Jiayuan. Under the proposed arrangement, the combined operations would continue under Xiejiahegou Coal Mine’s name, with an anticipated increase in annual production capacity from 450,000 tonnes to 1.2 million tonnes, subject to regulatory approval.

In addition, the announcement notes that Huaneng Jiayuan owns Jieji Coal Mine, which is currently idle. Both sides intend to explore potential development opportunities, pending feasibility assessments and the necessary regulatory approvals.

Perennial Energy emphasizes that no legally binding agreement has been reached for these new consolidation projects and that there is no assurance the 2025 proposal will materialize. The company will disclose any relevant updates in accordance with applicable listing requirements.