Xinjiang Xintai Natural Gas (603393.SH) subsidiary won the exploration rights for the Balikun coal resources in Xinjiang with a bid of approximately 3.523 billion yuan.

Xinjiang Xintai Natural Gas (603393.SH) announced that its subsidiary, Xinjiang Mingxin Oil and Gas Exploration and Development Co., Ltd. (referred to as "Xinjiang Mingxin"), participated in the bidding for the exploration and mining rights of coal resources in the No. 7 survey area of Santang Lake Mining Area, Barkol Kazakh Autonomous County, Xinjiang. Xinjiang Mingxin won the bidding for the exploration rights with approximately 3.523 billion RMB. This transaction is still subject to approval by the company's shareholders' meeting before implementation. The survey area covers 109.28 square kilometers, with an estimated coal resource of 20.93 billion tons within 1000 meters depth. Xinjiang Mingxin is a joint venture established by the company with a controlling stake of 65% and Karamay City Fucheng Energy Group Co., Ltd. with a stake of 35%. Its business purpose is to focus on the construction requirements of industrial clusters in Xinjiang Autonomous Region, based on resource endowment, location advantages, and infrastructure conditions, to create local energy projects. The acquisition of coal resource exploration rights by Xinjiang Mingxin will further strengthen the company's own advantage in energy industry resource reserves. Relying on its own coal resources with high oil and gas content, through clean, efficient, and low-carbon conversion of coal, it will accelerate the conversion of resource advantages, improve the company's core competitiveness and sustainable profitability.