Yatai Group terminated the acquisition of shares in Jixi Taixin Coal!

On December 21, Jilin Yatai (Group) Co., Ltd. announced the termination of the acquisition of shares of Jixi Taixin Coal Industry Co., Ltd.

The announcement said that due to the loss of Taixin Coal Industry in recent years, considering the capital cost of the company's acquisition, and the company's follow-up needs to further understand and negotiate with relevant parties on matters related to equity acquisition, after careful consideration, the company decided to terminate the acquisition of shares of Jixi Taixin Coal Industry Co., Ltd.

On December 12, Yatai Group announced that its wholly-owned subsidiary, Yatai Energy Group Co., Ltd. Acquisition of 53.33% and 44.45% equity of Jixi Taixin Coal Industry Co., Ltd. ( "Taixin Coal Industry") held by Jilin Shenguang Commerce and Trade Co., Ltd. ( "Shenguang Commerce and Trade") and Jilin Aidu Commerce and Trade Co., Ltd. ( "Aidu Commerce and Trade") respectively. After the completion of this transaction, the company holds 97.78% of Taixin Coal. The acquisition will be conducive to the continuous guarantee and stabilization of the supply of raw materials required for the production of the Company's building materials industry. By replacing outsourcing with self-production, the cost of coal procurement can be reduced to a certain extent, and the supporting resources of the Company's coal preparation business can be expanded at the same time.

Taixin Coal Industry is an enterprise mainly engaged in coal mining and washing, with five branches and subsidiaries, namely, Xinshengyuan Coal Mine of Jixi Taixin Coal Industry Co., Ltd., Changde Coal Mine of Jixi Taixin Coal Industry Co., Ltd. and Fulinyuan Coal Mine of Jixi Taixin Coal Industry Co., Ltd. ( "Xinshengyuan Coal Mine", "Changde Coal Mine" and "Fulinyuan Coal Mine"). The subsidiaries, Jixi Xiangyang Coal Co., Ltd. ( "Xiangyang Coal") and Heilongjiang Jianmei Mining Co., Ltd., have two mines under construction with a production capacity of 300,000 tons/year and three production mines with a production capacity of 150,000 tons/year. The main types of coal produced are fat coal, long flame coal, coking coal and gas coal, which can be used for coking in coking plants, industrial coal, power plants and heating coal directly or through washing. From January to November 2023

, Taixin Coal Industry realized operating income of 135 million yuan and net profit of -98.454 million yuan.