Gelonghui, May 10 | Jinma Energy (06885.HK) announced that the Group has signed a number of construction-related agreements with several third parties for the construction of the Xinyang Gold Port Project from 2021 to 2023. The project is an advanced heat recovery coke oven project with a total production capacity of about 1.6 million tons. It was built by Xinyang Gold Port, a subsidiary of the company with 70% of the shares.
According to the Group's business strategy of expanding its vertical and horizontal business to cover the coking industry chain in the coal chemical industry, the Group has always been committed to expanding coke production capacity. Given that the Chinese government has formulated policies and implemented stricter environmental protection measures and requirements in recent years, the board believes that it has become increasingly difficult to achieve additional coke production capacity. The Xinyang Golden Port Project will expand the Group's coke production capacity, and the coke production capacity is a valuable resource for the Group to expand its business operations, and the Group will benefit from it. As coke production increases, the Group's overall revenue and operating performance will also increase across the board.