Shan Xi Hua Yang Group New Energy Co.,Ltd. (SHSE:600348) agreed to acquire 6.90% stake in Yangquan Coal Industry Group Finance Co., Ltd. from Shanxi Sanwei Huabang Group Company Ltd. on April 2, 2025. Shanxi Sanwei Huabang Group Company Ltd. will hire an appraisal company to appraise the target equity in this transaction, and determine the transfer price based on the appraisal report results filed by the provincial state-owned assets operation company; Sanwei Huabang will hire an accounting firm to audit the profit and loss of the target equity during the transition period, and the final transaction price of this equity transfer will be the appraisal value plus the profit and loss during the transition period, which is expected to be no more than RMB 400 million.

For the period ending February 28, 2025, Yangquan Coal Industry Group Finance Co., Ltd. reported total revenue of CNY 63.15 million. As of February 28, 2025, Yangquan Coal Industry Group Finance Co., Ltd. reported total assets of CNY 21.97 billion and total common equity of CNY 4.33 billion.