Yankuang Energy Group (01171) plans to invest approximately 521.5 million yuan to acquire 100% equity of Zikuang Railway.

Yankuang Energy Group (01171) announced that on November 18, 2024, its wholly-owned subsidiary Yankuang Logistics signed a share transfer agreement with Luxi Mining and Zikang Railway. According to the share transfer agreement, Yankuang Logistics agreed to acquire 100% equity of Zikang Railway from Luxi Mining for a total consideration of approximately RMB 521.5 million. Upon completion of the share transfer, the company will indirectly hold 100% equity of Zikang Railway, which will become a wholly-owned subsidiary of the company. The share transfer will benefit the integration of the logistics industry, leverage industrial resource advantages, and unite development forces to promote the intensive development and cost reduction of the logistics industry. Through the share transfer, the railway logistics industry units will be subject to integrated management, and operate professionally, fully leveraging advantages in management, channels, talent, etc. to harness synergies between units, accelerate industrial transformation and upgrading, improve collaborative efficiency, and enhance operational efficiency.