Luan Environmental Energy: Won the coal exploration rights for the Sucun block in Xiangyuan County, Shanxi Province, for 8.222 billion RMB

On March 23, Shanxi Lu’an Environmental Energy Development Co., Ltd. (hereinafter referred to as the “Company”) announced that the Company participated in the public auction for the coal exploration right for the Su Village block in the Xiangyuan County of Shanxi Province, and won the auction bid for that coal exploration right at RMB 8.22B.

The announcement said that the Company successfully won the coal exploration right for the Su Village block in Xiangyuan County, Shanxi Province. The block is adjacent to the Company’s headquarters location and lies next to the existing mining area of the Wuyang Coal Mine, with prominent location advantages. After this block is converted into a mining right in the future, it can rely on the existing production system of the Wuyang Coal Mine to carry out extended and continuous mining. The resource endowment and mining conditions are excellent. It is a high-quality follow-up resource that the Company has been focusing on securing for the long term. Obtaining this exploration right is closely aligned with the development direction of the Company’s main responsibilities and principal business, and it fits the Company’s long-term resource strategy. It will effectively increase the Company’s coal resource reserves, further improve the structure of resource reserves, and continue to enhance the Company’s core support capability and overall competitive advantages. It is of great significance for promoting the Company’s high-quality development and achieving long-term stable and sustainable development. The Company’s management’s bidding for this resource has been authorized by the Company’s 10th meeting of the 8th session of the board of directors. The scope of authorization for the bidding activity and the amount of the bid result comply with the board’s authorization. This bidding will not have any adverse impact on the Company’s financial position, operating situation, or existing business.

(Corporate announcement)