Guanghui Energy Co Ltd

Guanghui Energy announced on the evening of September 29 that its wholly owned subsidiary Balikun Guanghui Malang Mining Co., Ltd. will invest a total of approximately 366 million yuan to take stakes in the Ningdong and Mingshui integrated energy logistics base projects through equity transfer plus capital increase. After the transaction, Malang Mining will hold 45.98 percent of Guanghui Ningxia Coal Storage and Distribution Co., Ltd. and 42 percent of Gansu Guanghui Xinjiang Coal Logistics Co., Ltd. The deal adopts a package of zero-yuan equity transfer, assumption of capital contribution obligations, and capital increase. Malang Mining will acquire the unpaid equity of the two target companies held by Guanghui Logistics at zero consideration, assume capital contribution obligations totaling 342 million yuan, and subscribe to 23.7931 million yuan of new registered capital in Gansu Guanghui Xinjiang Coal Logistics at one yuan per share. This is another key move by Guanghui Energy to implement its strategy of shipping Xinjiang coal outward and complete its coal production, sales, storage, and transportation chain, following the start of production at the Malang coal mine and the expansion of the Naoliu Highway. The Ningdong base is located in the core area of the Ningdong energy and chemical industry in Ningxia, adjacent to the Meihuajing station on the Taiyuan-Zhongwei-Yinchuan railway, and has been listed as a key project in Ningxia's 15th Five-Year Plan. The Mingshui base is located in Subei, Jiuquan, Gansu, at the first station out of Xinjiang on the Linhe-Hami railway, and is a major project of Gansu Province. Once completed, the two bases will serve as forward coal warehouses for Xinjiang coal sold outside the region. Malang Mining is only an equity investor, does not obtain control, will not be consolidated into financial statements, and will have no direct impact on the current income statement.

Guanghui Energy released its 2026 interim report, with net profit attributable to the parent company of 1.278 billion yuan, up 49.81% from the same period last year. Total operating revenue was 14.241 billion yuan, down 9.57% year on year. Net cash inflow from operating activities was 2.814 billion yuan, down 0.31% year on year. The latest asset-liability ratio was 51.79%, down 6.30 percentage points from the same period last year. Gross margin was 23.93%, up 6.73 percentage points year on year. Diluted earnings per share were 0.20 yuan, up 53.61% year on year.

Guanghui Energy disclosed its 2026 semi-annual report. In the first half, it achieved operating revenue of 14.241 billion yuan, down 9.57% year on year, but net profit attributable to shareholders of the listed company was 1.278 billion yuan, up 49.81% year on year, and net profit excluding non-recurring items was 1.331 billion yuan, up 59.67% year on year. Coal remained the largest revenue source, generating 8.054 billion yuan. The company adhered to a production-based-on-sales strategy and pushed for a shift from volume optimisation to price optimisation. The coal chemical segment produced 1.2862 million tonnes of all products, up 14.18% year on year, of which ethylene glycol output was 139,300 tonnes, a sharp year-on-year increase of 244.19%, mainly thanks to capacity release at the 400,000-tonne-per-year ethylene glycol project using waste gas. The natural gas segment produced 364.1722 million cubic metres of LNG, up 5.68% year on year, with total sales of 1.1713801 billion cubic metres and revenue of 3.482 billion yuan. Total profit in the first half was 1.549 billion yuan, up 51.60% year on year, and net cash flow from operating activities was 2.814 billion yuan, roughly flat year on year. On key projects, supporting facilities for the Malang coal mine construction project have been basically completed, four new wells at the Zaisan oil and gas development project in Kazakhstan have been spudded, and construction progress on phase one of the high-value utilisation upgrade project for oil-rich coal is about 30%.

Guanghui Energy released its semi-annual report for 2026. Net profit attributable to shareholders of the listed company was 1.278 billion yuan, up 49.81% year on year. The company achieved operating revenue of 14.241 billion yuan, down 9.57% year on year. Net profit in the second quarter was 1.042 billion yuan, while net profit in the first quarter was 236 million yuan, meaning second-quarter net profit rose 340% quarter on quarter.