Inner Mongolia Shengyuan Energy Group Yinengtong E-Commerce Co., Ltd. agreed to acquire 40% stake in Ningxia Hongdunzi Coal Industry Co.,Ltd. from Ningxia Baofeng Energy Group Co., Ltd. for CNY 2.0 billion.
Inner Mongolia Shengyuan Energy Group Yinengtong E-Commerce Co., Ltd. agreed to acquire 40% stake in Ningxia Hongdunzi Coal Industry Co.,Ltd. from Ningxia Baofeng Energy Group Co., Ltd. (SHSE:600989) for CNY 2.0 billion on April 28, 2025. A cash consideration of CNY 2 billion will be paid by Inner Mongolia Shengyuan Energy Group Yinengtong E-Commerce Co., Ltd. As part of consideration, CNY 2 billion is paid towards common equity of Ningxia Hongdunzi Coal Industry Co.,Ltd.
For the period ending December 31, 2024, Ningxia Hongdunzi Coal Industry Co.,Ltd. reported total revenue of CNY 1.91 billion and net income of CNY 83 million. As of December 31, 2024, Ningxia Hongdunzi Coal Industry Co.,Ltd. reported total assets of CNY 9.24 billion and total common equity of CNY 746 million.
Ningxia Baofeng Energy Group Co Ltd is a China-based company mainly engaged in the production and sales of modern coal chemical products. The Company's main products include olefin products, coking products and fine chemical products. Olefin products mainly include polyethylene, polypropylene and olefin by-products. Coking products mainly include coke and coal coking by-products. Fine chemical products mainly include pure benzene, modified asphalt, industrial naphthalene, eucalyptus oil and MTBE. The Company mainly conducts its businesses in domestic market.
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Inner Mongolia Shengyuan Energy Group Yinengtong E-Commerce Co., Ltd. agreed to acquire 40% stake in Ningxia Hongdunzi Coal Industry Co.,Ltd. from Ningxia Baofeng Energy Group Co., Ltd. for CNY 2.0 billion.
