TBEA plans to raise 8 billion yuan to invest in the construction of the Quandong coal-to-natural gas project.

TBEA Group has released a report, planning to publicly issue convertible bonds to raise funds of up to 8 billion yuan, which will be used for the Xinjiang Zundong 20 billion cubic meters per year coal-to-gas project, with a total investment of 17.039 billion yuan. The remaining funds will be self-funded by the company. The project has received approval and environmental impact assessment approval, with a construction period of 3 years. Once completed, the project will create corresponding production capacity. The project is necessary and feasible, as it will ensure national energy security, promote clean coal utilization, optimize the company's business structure, and improve efficiency. The issuance will enhance the company's competitiveness, improve its financial situation, and bring returns to both the company and investors, in line with the interests of shareholders.