China Coal Energy (02502.HK): Beijing Weigang still plans to negotiate with Jinma Coking on the investment and acquisition of a minority stake in Jinma Hong Kong or its holding company.

Zhitong Finance APP News, Kinmen Energy (02502.HK) announced that, as stated in the updated announcement of Kinmen Energy, according to the notification from Kinmen Coking, Kinmen Coking has issued a termination notice to Beijing Weigang New Energy Co., Ltd. (Beijing Weigang) regarding the disclosed sale of target shares on August 5, 2025. The sale of target shares by Kinmen Coking to Beijing Weigang will not proceed. Therefore, as far as Kinmen Energy knows, Mr. Rao continues to indirectly hold 100% equity of Kinmen Coking. Kinmen Coking wholly owns Kinmen Hong Kong, which holds 162 million shares of Kinmen Energy, accounting for approximately 30.26% of Kinmen Energy's share capital. Kinmen Energy further received notification from Kinmen Coking that Beijing Weigang still intends to negotiate with Kinmen Coking on investing in and acquiring a minority stake in Kinmen Hong Kong or its parent company, with the intention for Kinmen Coking to continue as the controlling shareholder of Kinmen Energy.