Henan Pingmei Shenma Shoushan Chemical Technology Co., Ltd. agreed to acquire a 51% stake in Pingmei Huanglong New Energy Co., Ltd. from Pingdingshan Tianan Coal. Mining Co., Ltd. (SHSE:601666) for CNY 58.9 million on March 13, 2023. Transaction has been approved by Pingdingshan Tianan Coal.

Mining's board and doesn't need the Shareholders approval. For the period September 30, 2022, Pingmei Huanglong New had CNY of 118.75 million of total assets and CNY 109.86 million of net assets.