Xinjiang Baodi Mining (601121.SH) has received approval from the Shanghai Stock Exchange for the issuance of shares and payment of cash to purchase assets.

Xinjiang Baodi Mining (601121.SH) announced that the company intends to purchase 82% of the equity of Xinjiang Congling Energy Co., Ltd. (referred to as "Congling Energy") from Kekzhou Congling Industry Co., Ltd. through the issuance of shares and cash payment. The company also plans to purchase 5% of the equity of Congling Energy from JAAN INVESTMENTS CO. LTD. through cash payment, and to issue shares to a maximum of 35 specific investors, including Xinjiang Geology Mining Investment (Group) Co., Ltd., to raise additional funds. The Mergers and Acquisitions Committee of the Shanghai Stock Exchange (referred to as the "SSE M&A Committee") held its 19th meeting on December 5, 2025 to review the company's application for this transaction. According to the announcement of the results of the 19th meeting of the Mergers and Acquisitions Committee of the Shanghai Stock Exchange in 2025 released by the SSE M&A Committee, the result of the meeting is that this transaction meets the requirements for restructuring and disclosure of information.