Zhitong Financial App News, 001896.SZ announcement, Henan Coal Storage and Distribution Trading Center Co., Ltd. ("Henan Coal Trading Center"), a subsidiary of the company, subscribed 100 million yuan as a sponsor, with a contribution proportion of 100%, invested in the establishment of Yuneng Energy (Inner Mongolia) Co., Ltd. ("Yumeng Energy"), which completed the industrial and commercial registration formalities on October 20, 2023. Obtained the "business license" issued by the Market Supervision Administration of Kangbashi District, Ordos City.
The investment in Yumeng Energy by Yu Coal Trading Center, a holding subsidiary, is an important measure to open up the whole industry chain of coal "production, transportation, storage, distribution and marketing" and to improve the stability and economy of coal purchase. it can form a good synergy effect with the thermal power business of listed companies and hedge against coal power cycle fluctuations, which is in line with the development strategy of listed companies.