Shaanxi Coal Industry Company Limited (SHSE:601225) signed a letter of intent to acquire 81.09% stake in Shaanxi Coalbed Methane Developement Co Ltd from Shaanxi Coal and Chemical Group Co., Ltd. for approximately CNY 550 million on August 10, 2020. Shaanxi Coal Industry Co., Ltd. intends to sign a share transfer with Shaanxi Coal and Chemical Group Co., Ltd. This agreement will become effective after being signed by the legal representatives of both parties or their authorized representatives and stamped with the official seal. The 20th meeting of the third board of directors of Shaanxi Coal Industry Company Limited held on October 30, 2020 deliberated and approved the proposal.