CHINA QINFA (00866) subsidiary enters into coal supply agreement with Zhejiang Energy Asia-Pacific.

China QINFA (00866) announced that its subsidiary SDE has entered into a coal supply agreement with Zhejiang Energy Asia Pacific, regarding the purchase of coal by Zhejiang Energy Asia Pacific from SDE. SDE has agreed to sell, and Zhejiang Energy Asia Pacific has agreed to purchase 70,000 metric tons of Indonesian thermal coal (base quantity). According to the supply agreement, the parties can mutually agree to adjust the base quantity by up to 10%. It was originally expected that Zhejiang Energy would enter into a 20-year coal supply agreement with SDE. However, the parties require more time to evaluate their annual production capacity before committing to a long-term agreement. Therefore, the parties have decided to enter into a shorter-term coal supply agreement at this stage. Through the coal supply agreement, the group will have a stable source of income due to the continuous demand from Zhejiang Energy's state-owned power plants.