[Baodi Mining: Plans to Acquire 87% Stake in Congling Energy through Share Issuance and Cash Payment] Baodi Mining announced that it plans to acquire an 82% stake in Xinjiang Congling Energy Co., Ltd. from Kezhou Congling Industrial Co., Ltd. through

2025-12-29

[Baodi Mining: Plans to Acquire 87% Stake in Congling Energy through Share Issuance and Cash Payment] Baodi Mining announced that it plans to acquire an 82% stake in Xinjiang Congling Energy Co., Ltd. from Kezhou Congling Industrial Co., Ltd. through a combination of share issuance and cash payment, and to acquire a 5% stake in Xinjiang Congling Energy Co., Ltd. from JAAN INVESTMENTS CO.LTD. through cash payment. The total transaction price is RMB 685 million. Simultaneously, the company plans to raise supporting funds of no more than RMB 560 million from no more than 35 specific investors, including Xinmin Group, of which RMB 89.375 million will be used to pay the cash consideration for this transaction.