Ankündigung • Jul 20
Yancoal Australia Ltd. Provides Unchanged Production Guidance for the Year 2026 Yancoal Australia Ltd. provided unchanged production guidance for the year 2026. For the period, the company expects 36.5 Mt to 40.5 Mt attributable saleable production – Operations performing strongly and output likely to be in the upper half of the guidance range. Ankündigung • Apr 16
Yancoal Australia Ltd (ASX:YAL) entered into a binding sale and purchase agreement to acquire Kestrel Coal Group Pty Ltd from EMR Capital Advisors Pty Ltd. and Adaro Capital Limited for $2.4 billion. Yancoal Australia Ltd (ASX:YAL) entered into a binding sale and purchase agreement to acquire Kestrel Coal Group Pty Ltd from EMR Capital Advisors Pty Ltd. and Adaro Capital Limited for $2.4 billion on April 14, 2026. A cash consideration of $1.85 billion will be paid by Yancoal Australia Ltd. Yancoal Australia Ltd will pay an earnout/contingent payment of $550 million cash subject to benchmark pricing exceeding agreed thresholds. As part of consideration, $2.4 billion is paid towards common equity of Kestrel Coal Group Pty Ltd. Yancoal Australia Ltd will acquire the warrants of Kestrel Coal Group Pty Ltd from EMR Capital Management Limited. The total consideration is subject to adjustments. Yancoal Australia Ltd plans to finance the transaction using a mix of its available cash, a $1.2 billion five-year syndicated acquisition loan, and, for the contingent consideration, cash flows generated by the expanded Yancoal Australia Ltd business over the first five years following the transaction's completion.
For the period ending December 31, 2025, Kestrel Coal Group Pty Ltd reported net income of $18.1 million. As of December 31, 2025, Kestrel Coal Group Pty Ltd reported total common equity of $1.5 billion.
The transaction is subject to approval of offer / merger by parent shareholders and approval by Australian Competition And Consumer Commission, The Foreign Investment Review Board, National Development and Reform Commission, Department Of Commerce Of Shandong, and State Administration for Market Regulation Offshore Merger Control Clearances. The deal has been approved by the shareholders of Yankuang Energy Group Company Limited. The expected completion of the transaction is towards the end of the September 2026.
UBS Securities Australia and UBS AG Hong Kong Branch acted as financial advisor for Yancoal Australia Ltd. Gilbert and Tobin and Freshfields LLP acted as legal advisor for Yancoal Australia Ltd. Ankündigung • Mar 23
Yancoal Australia Ltd, Annual General Meeting, May 28, 2026 Yancoal Australia Ltd, Annual General Meeting, May 28, 2026. Ankündigung • Feb 25
Yancoal Australia Ltd Declares A Final Cash Dividend for the Financial Year Ended 31 December 2025, Payable on 15 April 2026 Yancoal Australia Ltd. declared a final cash dividend of approximately AUD 161 million (being AUD 0.1220 per share), for the financial year ended 31 December 2025 to shareholders whose names appear on the register of members of the Company ON 20 March 2026. The final dividend for the year ended 31 December 2025 is expected to be distributed on 15 April 2026. Ankündigung • Jan 19
Yancoal Australia Ltd Re-Affirms Production Guidance for the Year Ended December 31, 2025 Yancoal Australia Ltd. re-affirmed production guidance for the year ended December 31, 2025. For the year, the company expects 35Mt -39Mt attributable saleable production- Delivered 38.6Mt. Ankündigung • Jan 14
Yancoal Australia Ltd to Report Q4, 2025 Final Results on Jan 19, 2026 Yancoal Australia Ltd announced that they will report Q4, 2025 final results at 7:30 PM, AUS Eastern Standard Time on Jan 19, 2026 Ankündigung • Sep 11
Yancoal Reportedly Digging for Anglo Mines Yancoal Australia Ltd. (ASX:YAL) is believed to have moved its acquisition aspirations to Anglo American plc (LSE:AAL)'s Queensland coal assets that had been slated for a sale to Peabody Energy. This while also negotiating to buy the Kestrel coal mine in Queensland, estimated to be worth about USD 3 billion ($4.62 billion). The $7 billion Yancoal has been a bridesmaid at almost every major Australian coal mine auction in recent years. Vendors have been spooked over a sale to the Australian-listed but China-backed coal group due to concerns that a deal may be weighed down with regulatory risks. But now it appears to be potentially in the driver's seat after the coal price has come off the boil and other prospective buyers of assets are concerned about embarking on large acquisitions in such an uncertain environment. Anglo last month told the market its $5.8 billion sale of Queensland coal mines to Peabody Energy had not been finalised, as the US-based Peabody argues a fire at one of its major mines, Moranbah North, amounts to a material adverse change in conditions that enables the group to walk away from the contract. The two are seeking to settle the matter through legal arbitration. Anglo indicated that it may sell the assets to another party and take legal action against Peabody to recover the difference, which is where Yancoal comes in. DataRoom earlier reported that underbidders in the initial auction last year, won by Peabody, had made approaches to the parties to see if they would be prepared to reach an alternative deal. Yancoal had been also been in serious talks over a deal to buy the EMR Capital-controlled Kestrel coal mine in Queensland. While International Resources Holding from Abu Dhabi, which operates in mining through Africa, had been in talks, Yancoal had been angling for bilateral discussions to buy the asset after an initial sale process plan was shelved amid the weaker coal price environment. EMR Capital owns 52% and is a seller, while Adaro Energy owns the remainder and has pre-emptive rights to buy out the asset. But it is understood Adaro would sell at the right price. Ankündigung • Aug 26
Yancoal Australia Ltd Announces Chief Executive Officer Changes, Effective 8 September 2025 The board of directors of Yancoal Australia Ltd. announced the appointment of Mr. Sharif Burra as Yancoal's new Chief Executive Officer (CEO) effective 8 September 2025. Mr. Ning Yue's role as Acting CEO will cease effective 8 September 2025. Mr. Burra (age 51) is an experienced mining executive with 28 years of experience spanning open-cut and underground mining; business improvement and technical studies; and due diligence and asset valuation. Mr. Burra has held several roles with Yancoal over the past 12 years including: General Manager - Operation Services, General Manager - Procurement and Major Contracts, General Manager - Operations Improvement /Business Improvement, and Executive General Manager - Health, Safety and Sustainability. He is a member of the Yancoal Executive Committee. The Board considers his broad experience, as well as existing knowledge of Yancoal's operations, will provide continuity to the CEO role and enable Mr. Burra to effectively implement the Company's operational and strategic priorities. Mr. Burra graduated with first class honours from Auckland University with a degree in Mining Engineering. He also holds a Master of Business Administration (MBA) degree from Oxford University. Mr. Burra serves as the Chairman of the Low Emission Technology Australia (LETA) Industry Project Assessment Committee. He is an Alternate Director for Australia Coal Research Limited (ACRL), Co- chair of the Australian Coal Association Research Programme (ACARP) Underground Committee and Member of the ACARP Research and Minesite Greenhouse Gas Mitigation Committees. He is also a Port Waratah Coal Service Health, Safety, Environment & Community Committee Member and Queensland Resource Council Health and Safety Committee Member. Ankündigung • Aug 19
Yancoal Australia Ltd Announces Interim (Semi-Annual) Ordinary Dividend for the Period Ended June 30, 2025 Payable on 19, September 2025 Yancoal Australia Ltd. announced an interim (semi-annual) ordinary dividend of AUD 0.062 per share for the period ended June 30, 2025. Payment Date: September 19, 2025. Record Date: September 5, 2025, Ex-dividend date: September 4, 2025. Ankündigung • Jul 17
Yancoal Australia Ltd Provides Production Guidance for the Year 2025 Yancoal Australia Ltd. provided production guidance for the year 2025. For the period, the company expects 35 Mt to 39 Mt attributable saleable production - first half output was ahead of the mid-point; the full year will potentially be toward the upper end of the range. Ankündigung • Mar 21
Yancoal Australia Ltd, Annual General Meeting, May 28, 2025 Yancoal Australia Ltd, Annual General Meeting, May 28, 2025. Ankündigung • Dec 19
Yancoal Australia Ltd Announces the Appointment of Peter Andrew Smith as Director Yancoal Australia Ltd. announced the appointment of Peter Andrew Smith as director, Date of appointment 17 December 2024. Ankündigung • Nov 01
Yancoal Reportedly Primed to Snap Up Anglo Coal Portfolio Speculation is mounting that Glencore plc (LSE:GLEN) is betting on a break-up play for the Anglo American plc (LSE:AAL) coal portfolio, and that it may only be bidding for some of the assets within the USD 3 billion offering. Should that be the case, it further cements Yancoal Australia Ltd. (ASX:YAL)'s position as the leader in the race. DataRoom understands that the China-controlled but Australian-listed Yancoal has already gained approval from the Chinese government to buy the assets and has 15 banks lined up and approved to provide funding. Other suitors are a Stanmore Resources Limited (ASX:SMR) Coal-led consortium, which could face challenges in getting all its bidding partners to agree on price, and Peabody Energy Corporation (NYSE:BTU), seen as an outside chance. Goldman Sachs and Morgan Stanley are working on the sale. One of the assets Glencore is probably keen to side step is the Grosvenor Mine 1,000km northwest of Brisbane that has been hit by closures due to a fire. Bids are due next week. Should the portfolio be split up, the major players could pick up Moranbah North and Grosvenor, Jellinbah could go to co-owners, while others take Capcoal and Dawson. It is understood existing shareholders and lenders have tipped in funds for the deal, to be announced on 01 November 2024. Ankündigung • Sep 18
Yancoal Australia Ltd Announces Resignation of Yaomeng Xiao as A Non-Executive Director Yancoal Australia Ltd. advises that Mr. Yaomeng Xiao has resigned as a Non-Executive Director of Yancoal and a member of the Nomination and Remuneration Committee, effective 18 September 2024, as he has resigned from Yankuang Energy Group Company Limited due to adjustments in work arrangements. Mr. Xiao was appointed as a Director on 30 May 2022 and during his tenure Yancoal delivered a record profit in 2022, repaid the last of its external loans and began fully franking its dividends. The Board extends its sincere gratitude to Mr. Xiao for his significant contributions to the Company over the past two years since joining the Board. The Board wishes Mr. Xiao all the very best in his future endeavours. With Mr. Xiao's departure from the Board, the composition of the Board will comprise one Executive Director, three Non-Executive Directors and three Independent Non-Executive Directors. Ankündigung • Aug 29
Yancoal Could Target Kestrel If its Anglo Ambitions Fail to Fly Yancoal Australia Ltd. (ASX:YAL) is believed to be angling to buy the $3 billion Kestrel coal mine when it is due to come up for sale by private equity owner EMR Capital - if it misses out on the $4 billion worth of Anglo American coal assets on offer, sources say. EMR Capital is set to launch the sale process of Kestrel at the conclusion of the Anglo American process. It is located in Queensland's Bowen Basin, 51km northeast of Emerald, and was purchased by the Owen Hegarty-chaired EMR Capital in 2018 from Adaro Energy for $2.25 billion. The developments come as more information filters out about the sale process for the Anglo American coal assets on offer through Goldman Sachs and Morgan Stanley. The understanding is that suitors are being told to ascribe zero value to the Grosvenor mine that has caught fire and been closed as a result. Yancoal, which is 62% owned by Chinese state-owned Yankuang Energy, is being assisted by CITIC CLSA and Royal Bank of Canada in its quest to buy the Anglo American portfolio. Chief executive David Moult made it clear during the company's results presentation this month he is a keen buyer, with the group suspending distribution payments to keep its $1.5 billion war chest to use for acquisitions. Glencore plc (LSE:GLEN) is also expected to run hard at the opportunity, while Stanmore Coal's boss Marcelo Matos somewhat laid his cards on the table during the company's result this week. While he would not say if Stanmore was a participant in the sale, he noted that its asset (Poitrel) was next to Anglo American's (Grosvenor and Moranbah North). Stanmore's Indonesian backers, such as Golden Energy, are likely to be there to support its bid, as could BUMA Energy. Or it may play separately. On offer are Anglo American's Capcoal and Dawson assets, and its most attractive mine is Moranbah North as well as Grosvenor. Also in the mix are its Aquila project, an interest in Jellinbah and the potential Moranbah South project. Ankündigung • Aug 23
Yancoal Reportedly on the Hunt for Met Coal Deal China-backed Yancoal Australia Ltd. (ASX:YAL) will mount an assault on Australia's $60 billion metallurgical coal industry, building a $1.5 billion war chest for a move which could catapult it into one of the nation's leading producers amid surging Asian demand. The company known for its thermal coal mines is expected to table an offer for Anglo American plc (LSE:AAL)'s local metallurgical coal division, which was put on the sale block earlier this year with price expectations in the USD 5 billion ($7.4 billion) range, with bids for those assets expected by September 9. A successful buyout would instantly transform Yancoal into one of the top three steelmaking coal producers globally if bought out in their entirety. Anglo's Queensland mines produced 15 million tonnes of coal last year with plans to hit 20 million tonnes a year by 2026. Any deal, if successful, would be the second company-transforming transaction pulled off by Yancoal, following its USD 2.45 billion purchase of Coal & Allied from Rio Tinto in 2017, which brought the Hunter Valley operations and Mt Thorley Warkworth into the business. However, any tilt by the Chinese controlled company for the Anglo mines may also raise concerns with the Foreign Investment Review Board should it win the looming auction. But while Yancoal chief executive David Moult was at pains to emphasise the significant benefits that would flow to shareholders from any such deal, investors were unimpressed after Yancoal revealed it had suspended dividend payments to shore up the balance sheet. The stock tumbled more than 34% from 21 August 2024 close at one point before recovering to close 14.5% lower at $5.95, on about 10 times normal trading volume. The stock plunge, which began to play out during a morning conference call with shareholders and analysts, led Mr. Moult to reassure shareholders that the new strategy was the best way forward. He said the company already had the "the three best thermal coal mines in Australia", but wanted to balance its portfolio with metallurgical coal assets. Ankündigung • Aug 19
Yancoal Australia Ltd Provides Production Guidance for the Second Half of 2024 Yancoal Australia Ltd. provided production guidance for the second half of 2024. For the period, the company expects production of 35-39 Mt attributable saleable production. Ankündigung • Aug 08
Yancoal Reportedly Hires Investment Bank for Anglo American Coal Sale Australian-listed coal miner Yancoal Australia Ltd. (ASX:YAL) is understood to have tapped investment bank RBC in its quest to buy Anglo American plc (LSE:AAL)'s suite of Queensland-based metallurgical coal mines that may sell for up to $5 billion (AUD 7.7 billion). Yancoal, which is 62% owned by the China state-owned Yankuang Energy, is expected to be a strong contender for the assets owned by the London-listed miner, which was this year targeted for a buyout by BHP, while the Swiss commodity trader Glencore is expected to run hard at the opportunity. Glencore will come to the competition self-advised, while Yancoal and Glencore will likely face scrutiny from the Foreign Investment Review Board. Stanmore Coal is thought to be in the mix, and Indonesian backers are likely to be there to support its bid or play separately, such as BUMA Energy and Stanmore's backer Golden Energy, but so far Glencore is considered the group to beat. The process starts this month, with Anglo American opting to dive straight in with the provision of information memorandums in a process run by Morgan Stanley and Goldman Sachs. Suitors have already signed up to enter a data room. On offer are Anglo American's Capcoal and Dawson assets and its most attractive mines, Moranbah North and Grosvenor. Also in the mix are its Aquila project, an interest in Jellinbah and the potential Moranbah South project. Ankündigung • Jun 24
Anglo American Reportedly Sets Up for AUD 7.5 Billion Coal Exit Anglo American plc (LSE:AAL) is expected to appoint an investment bank any day for a sale of its $5 billion (AUD 7.5 billion) portfolio of Australian coalmining assets, according to sources in the market. The sale, which comes after an announced company break-up while it has been fending off advances from BHP, will involve big dollars for what are some of the best metallurgical coal mines in the world. That may limit the field somewhat. One of the parties most strongly positioned for the portfolio is BHP itself, but perhaps it does not want to be seen to be reinforcing Anglo American's break-up strategy that enhances Anglo's value. But sources say BHP will not be in contention for the mines. If the break-up of Anglo American does not go well, it's always been considered a possibility that BHP comes back a second time with an "all of company" bid for Anglo American after several months. The bet by some is that the coal auction attracts non-conforming offers. China-backed Yancoal Australia Ltd. (ASX:YAL) will probably bid for Anglo American's Capcoal and Dawson assets, while Whitehaven Coal Limited (ASX:WHC), Coronado Global Resources Inc. (ASX:CRN) and Stanmore Resources Limited could bid for the other more attractive mines, Moranbah North and Grosvenor. Other assets that form part of the Queensland portfolio are the Aquila project, an interest in Jellinbah and the potential Moranbah South project, producing about 16 million tonnes a year. Glencore would also be large enough to buy the mines, but the Swiss trader is yet to complete its acquisition of Teck Resources, so could be distracted with that. Other than that, it's hard to see what other groups would be well placed to buy the entire portfolio, with Whitehaven Coal busy digesting the coal mines it has only just bought from BHP. There's been a view that perhaps the reason why BHP sold its Daunia and Blackwater coal mines in the first place was to make way for the Anglo American assets it would inherit as part of its planned buyout, clearing any challenges it may face owning both from the Australian Competition & Consumer Commission. In terms of selecting an investment bank, Anglo American has used Goldman Sachs and Morgan Stanley as its defence advisers so both could be well-placed. Ankündigung • May 30
Yancoal Australia Ltd Appoints Ning Yue as an Executive Director Yancoal Australia Ltd. announced that at the AGM was held on 30 May 2024, the company approved the appointment of Ning Yue as an Executive Director. Ankündigung • Apr 12
Yancoal Australia Ltd to Report Fiscal Year 2023 Final Results on Apr 24, 2024 Yancoal Australia Ltd announced that they will report fiscal year 2023 final results on Apr 24, 2024 Ankündigung • Feb 09
Yancoal Australia Ltd Announces Resignation of Helen Gillies as Independent Non-Executive Director The Board of directors of Yancoal Australia Ltd. announced that Ms. Helen Gillies will step down as an Independent Non-Executive Director (INED) of Yancoal and as Chair of the Nomination and Remuneration Committee and a member of the Audit and Risk Management Committee, effective 9 February 2024, due to her intention to devote more time to her other business engagements. Ms. Gillies has confirmed that she has no disagreement with the Board and that there is no other matter relating to her resignation that needs to be brought to the attention of the shareholders of the Company. Ms. Gillies was appointed as an INED on 30 January 2018 and during her tenure has overseen continued growth and transformation of the Yancoal business and various corporate initiatives including the dual listing on the Hong Kong Exchange. The Board extends its sincere gratitude to Ms. Gillies for her invaluable service and significant contributions to the Company over the past 6 years since joining the Board. The Board wishes Ms. Gillies all the very best in her future endeavours. With Ms. Gillies' departure from the Board, the composition of the Board will comprise one Executive Director, four Non-Executive Directors and two INEDs. As a result, the number of INEDs is less than one-third of the Board as required under Listing Rules 3.10A. Yancoal will use its best endeavours to appoint a new INED with suitable experience and qualifications to the Board to satisfy the requirement under Listing Rule 3.10A within three months of 9 February 2024. An announcement will be made by the Company when a new INED has been appointed and changes are made to the composition of the various Board committees. Ankündigung • Oct 28
Yancoal Australia Ltd to Report First Half, 2024 Results on Aug 19, 2024 Yancoal Australia Ltd announced that they will report first half, 2024 results on Aug 19, 2024 Ankündigung • Sep 28
Yancoal Australia Ltd Announces Management Changes The Board of directors of Yancoal Australia Ltd. announced the appointment of Mr. Ning Yue as an Executive Director and Co-Vice Chairman of the Yancoal Board effective 27 September 2023. Mr. Yue has also been appointed as the Chair of the Executive Committee (CEC) effective 27 September 2023. Mr. Yue, aged 45, is a senior engineer who graduated from China University of Mining and Technology. He has more than 20 years of experience in coal mining operations and management. Mr. Yue joined the predecessor company of Yankuang Energy Group Company Limited (Yankuang Energy) in 2000, and has held several senior roles during his career, including Head of the Safety Technology Section of the Jinjitan Project Department of Nantun Coal Mine, Chief Engineer of the Jinjitan Coal Mine and subsequently General Manager of the Jinjitan Coal Mine. Mr. Yue is also a director of Shaanxi Future Energy Chemical Co., Ltd, a subsidiary of Yankuang Energy. Mr. Yue has been appointed as a director to certain Yancoal and Yankuang Energy subsidiaries with effect from 27 September 2023 and may be appointed to additional Yancoal and Yankuang Energy subsidiaries in the future as and when business needs arise. The Board further announced that Mr. Ning Zhang has resigned as an Executive Director, Co-Vice Chairman of the Board, CEC and all related Group directorships effective 27 September 2023 to pursue new career opportunities. Following from the Company's announcement on 15 September 2023, in respect to the retirement of Mr. Baocai Zhang as Director and Chairman of the Company, the Board has appointed Chairman Gang Ru as a member of the Nomination and Remuneration Committee and will also be appointed as the Chair of the Strategy and Development Committee, with effect from 27 September 2023. Concurrently with Mr. Ning Zhang's resignation as an executive director of Yancoal, Mr. Ning Zhang has resigned as a member of the Health, Safety, Environment and Community Committee, with effect from 27 September 2023. Mr. Yue has been appointed as a member of the Health, Safety, Environment and Community Committee, with effect from 27 September 2023. The Board further announced that Chairman Gang Ru has been appointed as an authorised representative of the Company under Rule 3.05 of the HK Listing Rules with effect from 27 September 2023. Ankündigung • Sep 16
Yancoal Australia Ltd Announces Board Changes The Board of directors of Yancoal Australia Ltd. announced a change in the position of Chairman of the Board. Mr. Baocai Zhang will step down from the Board and the role of Chairman on 15 September 2023, as he intends to devote more time to his other business engagements and positions that he holds. Non-Executive Director, Mr. Gang Ru, will assume the role of Chairman from 15 September 2023. Mr. Baocai Zhang has been involved with Yancoal's development journey since its incorporation in 2004. He first joined the Board prior to the Australian Stock Exchange listing in 2012, was Co-Vice Chairman, Chair of Executive Committee from 2013 to 2018, and Chairman since 2018. During his tenure, Mr. Zhang's vision, ability and determination has helped transform Yancoal. He has maintained a commitment to Yancoal's corporate governance framework and has been instrumental in driving multiple corporate initiatives during the challenging industry cycles, notably securing and expanding the Moolarben complex acquiring Coal & Allied, the dual listing on the Hong Kong Stock Exchange, retirement of all external interest-bearing loans and distribution of substantial dividends to shareholders. Mr. Gang Ru has nearly 30 years of financial and capital management, corporate organisational management, investment, and financing experience. Though his roles with Shandong Energy Group Co. Ltd, Mr. Ru has worked closely with Yancoal since 2015 and knows the business very well. He has been fully involved at a Group level in corporate transactions, capital management and acquisition activities driving the Company's expansion and strategic growth. Mr. Zhang will also step down from his roles as a member of the Nomination and Remuneration Committee and the chairman of the Strategy and Development Committee. Ankündigung • Aug 17
Yancoal Australia Ltd Announces Interim (Semi-Annual) Dividend for the Financial Year End 31 December 2023, Payable on 20 September 2023 Yancoal Australia Ltd. announces Interim (Semi-annual) Dividend For the financial year end 31 December 2023, Dividend declared AUD 0.37 per share. Ex-dividend date 05 September 2023. Record date 06 September 2023. Payment date 20 September 2023. Ankündigung • Jun 01
Yancoal Australia Ltd Announces Executive Changes Yancoal Australia Ltd. announced that Mr. Qingchun Zhao and Mr. Xiangqian Wu retired as non-executive Directors of the Company immediately after the conclusion of the AGM. Mr. Zhao and Mr. Wu have no disagreement with the Board and there are no matters relating to their retirement that need to be brought to the attention of the Shareholders of the Company. The Board would like to take this opportunity to express its sincere gratitude to Mr. Zhao and Mr. Wu for their valuable contributions to the Company during their tenure of office. The Board announced that Mr. Gang Ru and Mr. Xiaolong Huang were elected as new Directors of the Company at the AGM and have been appointed as non-executive Directors. Mr. Ru, Professorate Senior Economist, Senior Accountant and Certified Accountant, aged 51. Mr. Ru joined China New Technology Venture Capital Corporation in July 1994, and was appointed as the Head of the Capital Market Research Center of Cvic Software Engineering Co. Ltd. in September 2000. From 2002 to 2008, he successively served as the Director and the Secretary to the Board of Directors of Shandong TV- NET Medium Development Co. Ltd. Mr. Ru successively acted as the Supervisor, Chief Financial Officer and the External Director of Zibo Mining Group Co. Ltd. from 2008 to 2015. Mr. Ru served as the Chief Financial Officer and External Director of Shandong Energy ("Shandong Energy") from 2015 to 2022. Mr. Ru was appointed as the Deputy General Manager of Shandong Energy in March 2022. Mr. Ru graduated from Shandong University and holds a Master's Degree in Economics and has rich experience in financial and capital management, corporate management, investment and financing. Mr. Ru is a Director of Zhongtai Securities Co. Ltd. Mr. Ru has entered into a letter of appointment with the Company for an unlimited term commencing on 31 May 2023, subject to any provisions of the letter of appointment and the Company's Constitution. Mr. Ru will not receive any director's fee or remuneration package as a non-executive Director. Mr. Xiaolong Huang, Senior Economist, Master of Laws, aged 45. Mr. Xiaolong Huang, born in November 1977, is a Director and Secretary of the Board of Yankuang Energy. Mr. Huang joined the predecessor of Yankuang Energy in 1999 and became the Securities Affairs Representative of Yankuang Energy in 2006. In 2008 and 2012, he took office as the Deputy-Director-Level Secretary of the Board Secretariat of Yankuang Energy and the Deputy Director of the Board Secretariat successively. He served as the Director of the former Shandong Energy Equity Reform and Restructuring Office in 2013, and a Standing- Director of the Board Secretariat of Shandong Energy in August 2020. In July 2021 and August 2021, he became the Secretary of the Board of Yankuang Energy and a Director of Yankuang Energy successively. Mr. Huang graduated from the University of International Business and Economics. Mr. Huang is Chairman of the Supervisory Committee of Shandong Huaju Energy Co. Ltd. and Director of Yancoal International (Holding) Co. Ltd. Mr. Huang serves as Director and Secretary of the Board of Yankuang Energy. As at the date of this announcement, Yankuang Energy is interested in approximately 62.26% of the shares in the Company. Save as disclosed in this announcement, Mr. Huang does not (i) hold any other position with the Company or its subsidiaries; (ii) hold any other directorships in any other public companies, the securities of which are listed on any securities market in Hong Kong or overseas in the last three years; and (iii) have any relationship with any other directors, senior management or substantial or controlling shareholders of the Company. Mr. Huang has entered into a letter of appointment with the Company for an unlimited term commencing on 31 May 2023, subject to any provisions of the letter of appointment and the Company's Constitution. Mr. Huang will not receive any director's fee or remuneration package as a non-executive Director. 
