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The work performed by Moore CPA Limit\ed in this respect )Tj 0.047 Tc 0.07 Tw 0 -1.333 Td [(did)12.2 ( not)12.3 ( constitute)12.3 ( an)12.3 ( assurance)12.3 ( engagement)12.3 ( in)12.3 ( accordance)12.3 ( with)12.3 ( Hong)12.3 ( Kong)12.3 ( Standards)12.3 ( on)22 ( )]TJ 0.065 Tc 0 -1.333 Td [(Auditing,)12.8 ( Hong)12.8 ( Kong)12.8 ( Standards)12.9 ( on)12.8 ( Review)12.8 ( Engagements)12.8 ( or)12.8 ( Hong)12.8 ( Kong)12.8 ( Standards)12.8 ( on)40 ( )]TJ 0.027 Tc 0.081 Tw 0 -1.333 Td [(Assurance)2.1 ( Engagements)2 ( )0.5 (issued)2 ( by)1.9 ( )0.5 (the)2 ( )0.5 (Hong)2 ( )0.5 (Kong)2 ( )0.5 (Institute)2 ( )0.5 (of)2 ( )0.5 (Certified)2 ( )0.5 (Public)2 ( Accountants,)2 ( )]TJ 0.025 Tc 0.023 Tw 0 -1.333 Td (and consequently no assurance has been expressed by Moore CPA Limited on\ the preliminary )Tj -0.025 Tw 0 -1.333 Td (announcement.)Tj /T1_1 1 Tf 0 Tw 0 -2.667 Td (EXTRACT OF INDEPENDENT AUDITOR\222S REPORT)Tj /T1_0 1 Tf 0.031 Tc 0.077 Tw 0 -2.667 Td [(The)6 ( )0.5 (following)6 ( )0.5 (is)6.1 ( )0.5 (an)6 ( )0.5 (extract)6 ( )0.5 (of)6 ( )0.5 (the)6 ( )0.5 (independent)6 ( )0.5 (auditor\222s)6 ( )0.6 (report)6 ( )0.5 (on)6 ( )0.5 (the)6 ( )0.5 (Group\222s)6.1 ( )0.5 (consolidated)6 ( )]TJ 0.025 Tc 0 Tw 0 -1.333 Td (financial statements for the year ended 31 December 2025.)Tj 0.024 Tc 0 -2.667 Td [(In our opinion, the consolidated financial statements present fairly, in\ all material respects, the)-1 ( )]TJ 0.025 Tc 0.058 Tw 0 -1.333 Td [(consolidated )0.5 (financial )0.5 (position )0.5 (of )0.6 (the )0.6 (Group )0.6 (as )0.5 (at )0.5 (31 )0.5 (December )0.5 (2025, )0.5 (and )0.5 (of )0.5 (its )0.6 (consolidated )]TJ 0.027 Tc 0.081 Tw 0 -1.333 Td [(f)0.5 (i)0.5 (n)0.5 (a)0.5 (nc)0.6 (ia)0.5 (l)2 ( )0.5 (p)0.5 (e)0.5 (r)0.5 (f)0.5 (o)0.5 (r)0.5 (ma)0.5 (n)0.5 (c)0.5 (e)2 ( )0.5 (a)0.5 (n)0.5 (d)2 ( )0.5 (i)0.5 (t)0.5 (s)2 ( )0.5 (c)0.5 (on)0.5 (s)0.5 (o)0.5 (l)0.5 (i)0.5 (d)0.5 (a)0.5 (te)0.6 (d)1.9 ( )0.5 (c)0.5 (a)0.5 (s)0.5 (h)2 ( )0.5 (f)0.5 (l)0.5 (o)0.5 (w)0.5 (s)2 ( )0.5 (fo)0.5 (r)2 ( )0.5 (t)0.5 (h)0.5 (e)2 ( )0.5 (y)0.5 (e)0.5 (a)0.5 (r)2 ( )0.5 (th)0.5 (e)0.5 (n)2 ( )0.5 (e)0.5 (n)0.5 (d)0.5 (e)0.5 (d)2 ( )0.5 (in)2 ( )0.5 (a)0.5 (c)0.5 (c)0.5 (o)0.5 (r)0.5 (d)0.5 (a)0.5 (n)0.5 (c)0.5 (e)2 ( )]TJ 0.056 Tc 0.07 Tw 0 -1.333 Td [(with)12.2 ( International)12.2 ( Financial)12.2 ( Reporting)12.2 ( Standards)12.2 ( \(\223)]TJ /T1_1 1 Tf -0.056 Tw (IFRSs)Tj /T1_0 1 Tf 0.07 Tw [(\224\))12.3 ( issued)12.3 ( by)12.3 ( the)12.3 ( International)31 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.333 Td [(Ac)0.5 (c)0.5 (oun)0.5 (tin)0.5 (g)3 ( )0.5 (St)0.5 (and)0.5 (ar)0.5 (ds)3 ( )0.5 (B)0.5 (oa)0.5 (rd)3 ( )0.5 (\()0.5 (\223)]TJ /T1_1 1 Tf -0.028 Tw [(I)0.5 (ASB)]TJ /T1_0 1 Tf 0.08 Tw 16.056 0 Td [(\224\))3.1 ( )0.5 (and)3 ( )0.6 (hav)0.5 (e)3 ( )0.5 (be)0.5 (en)3 ( )0.5 (p)0.5 (ro)0.5 (per)0.5 (ly)3 ( )0.5 (p)0.5 (re)0.5 (pa)0.5 (re)0.5 (d)3 ( )0.5 (in)3 ( )0.5 (c)0.5 (omp)0.5 (lia)0.5 (nc)0.5 (e)3 ( )0.5 (w)0.5 (ith)3 ( )]TJ 0.025 Tc 0 Tw -16.056 -1.333 Td (the disclosure requirements of the Hong Kong Companies Ordinance.)Tj ET endstreamendobj73 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 46 \226)Tj 0.026 Tc 0.082 Tw -18.766 58.583 Td [(With)1 ( )0.5 (the)1 ( )0.5 (increase)1.1 ( in)1 ( )0.5 (production)1 ( )0.5 (capacity)1 ( )0.5 (of)1 ( )0.5 (SDE)1 ( )0.5 (Mine)1 ( )0.5 (1)1 ( )0.5 (and)0.9 ( )0.6 (the)1 ( )0.5 (accelerated)1 ( )0.5 (construction)1 ( )0.6 (of)1 ( )]TJ 0.025 Tc 0.05 Tw 0 -1.333 Td [(SDE )0.5 (Mine )0.5 (2, )0.5 (SDE )0.5 (Mine )0.5 (2 )0.6 (is )0.5 (expected )0.5 (to )0.5 (commence )0.5 (official )0.5 (production )0.5 (in )0.5 (2026. )0.5 (By )0.5 (then, )0.5 (the )]TJ 0.036 Tc 0.072 Tw 0 -1.333 Td [(total)11 ( )0.5 (production)11 ( )0.5 (capacity)11 ( )0.5 (of)11 ( )0.5 (the)11 ( )0.5 (SDE)11 ( )0.5 (Coal)11 ( Mine)11 ( )0.5 (will)11 ( )0.5 (be)11.1 ( )0.5 (significantly)11 ( )0.5 (improved,)11 ( )0.5 (which)11 ( )0.5 (will)11 ( )]TJ 0.025 Tc 0 -1.333 Td (make them a core growth engine of the Group\222s coal operations. The Gr\oup will continue to )Tj 0.021 Tw 0 -1.333 Td (work with more large enterprises from the energy and coal industries, so\ as to jointly increase )Tj 0 Tw 0 -1.333 Td (resource development efficiency and boost market competitiveness.)Tj /T1_1 1 Tf 0 -2.667 Td (Development Progress of Other Indonesian Coal Mines)Tj /T1_0 1 Tf 0.043 Tc 0.07 Tw 0 -2.667 Td [(The)12.4 ( Group)12.4 ( completed)12.4 ( the)12.4 ( acquisition)12.4 ( of)12.4 ( minority)12.4 ( interests)12.4 ( in)12.4 ( three)12.4 ( Indonesian)12.4 ( coal)12.4 ( mines)18 ( )]TJ 0.025 Tc 0.055 Tw 0 -1.333 Td (\(IMJ, VSE, SME\) in 2024, taking 100% control and laying a solid founda\tion for subsequent )Tj 0.082 Tc 0.07 Tw 0 -1.333 Td [(development.)12.7 ( The)12.7 ( Group)12.7 ( will)12.6 ( adopt)12.7 ( the)12.6 ( successful)12.7 ( model)12.6 ( of)12.7 ( the)12.6 ( SDE)12.7 ( Coal)12.7 ( Mine)12.7 ( to)57 ( )]TJ 0.025 Tc 0.078 Tw 0 -1.333 Td (strategically cooperate with large Chinese energy enterprises and state-\owned enterprises, so )Tj 0.045 Tc 0.07 Tw 0 -1.333 Td [(as)12.3 ( to)12.2 ( complement)12.2 ( each)12.2 ( other\222s)12.2 ( advantages)12.2 ( and)12.2 ( expedite)12.2 ( the)12.2 ( exploration,)12.2 ( engineering,)12.2 ( and)20 ( )]TJ 0.032 Tc 0.076 Tw 0 -1.333 Td [(construction)7 ( )0.5 (work)6.9 ( )0.6 (of)7 ( )0.5 (the)7 ( )0.6 (coal)7 ( )0.5 (mines.)7 ( )0.5 (Through)7 ( )0.5 (close)7 ( )0.5 (cooperation)7.1 ( )0.5 (with)7 ( )0.6 (strategic)7 ( )0.5 (partners,)7 ( )0.5 (the)7.1 ( )]TJ 0.025 Tc 0.048 Tw 0 -1.333 Td (Group will fully leverage its resource advantages to achieve comprehensi\ve development and )Tj 0 Tw 0 -1.333 Td (steady growth in its Indonesian coal business.)Tj 0.067 Tc 0.07 Tw 0 -2.667 Td [(It)12.5 ( is)12.5 ( now)12.5 ( in)12.5 ( negotiations)12.5 ( with)12.5 ( a)12.5 ( large)12.5 ( state-owned)12.5 ( enterprise)12.5 ( that)12.5 ( possesses)12.5 ( extensive)42 ( )]TJ 0.038 Tc 0 -1.333 Td [(experience)12.3 ( in)12.3 ( coal)12.3 ( mine)12.3 ( construction)12.3 ( to)12.3 ( discuss)12.3 ( matters)12.3 ( concerning)12.3 ( the)12.3 ( contracting)12.3 ( of)12.2 ( TSE)13 ( )]TJ 0.068 Tc 0 -1.333 Td [(Mine)12.2 ( 1)12.1 (.)12.1 ( According)12.1 ( to)12 ( the)12.1 ( current)12.1 ( development)12.1 ( and)12.1 ( design)12.1 ( plans,)12.1 ( the)12 ( designed)12.1 ( annual)43.1 ( )]TJ 0.025 Tc 0.054 Tw 0 -1.333 Td [(production capacity )0.5 (of TSE )0.5 (Mine )0.5 (1 is )0.5 (8 to 10 )0.5 (million )0.5 (tonnes. Both )0.5 (parties expect )0.5 (to )0.5 (formally )]TJ 0 -1.333 Td (sign a contract in the first half of 2026 to accelerate the development \and construction of the )Tj 0.062 Tw 0 -1.333 Td (mine. The Group will utilise the successful model of the SDE Coal Mine t\o actively conduct )Tj 0.018 Tw 0 -1.333 Td (strategic cooperation, complement each other\222s advantages, and thus a\chieve steady growth in )Tj 0 Tw 0 -1.333 Td (its Indonesian coal business.)Tj /T1_1 1 Tf 0 -2.667 Td (Continuously Expanded Territory in Indonesia)Tj /T1_0 1 Tf 0.061 Tc 0.07 Tw 0 -2.667 Td [(A)0.6 (s)13 ( )0.6 (a)13.1 ( )0.5 (g)0.6 (l)0.5 (o)0.6 (b)0.5 (a)0.6 (l)13.1 ( )0.5 (c)0.6 (o)0.6 (a)0.5 (l)13.1 ( )0.5 (r)0.6 (e)0.6 (s)0.5 (o)0.6 (u)0.5 (r)0.6 (c)0.6 (e)0.5 (-)0.6 (r)0.5 (i)0.6 (c)0.6 (h)13 ( )0.6 (r)0.6 (e)0.5 (g)0.6 (i)0.5 (o)0.6 (n)0.5 (,)13.1 ( )0.5 (I)0.6 (n)0.6 (d)0.5 (o)0.6 (n)0.5 (e)0.6 (s)0.6 (i)0.5 (a)13.1 ( )0.5 (h)0.6 (o)0.5 (l)0.6 (d)0.6 (s)13 ( )0.6 (t)0.5 (h)0.6 (e)13 ( )0.6 (k)0.6 (e)0.5 (y)13.1 ( )0.6 (p)0.5 (o)0.6 (s)0.5 (i)0.6 (t)0.5 (i)0.6 (o)0.5 (n)13.1 ( )0.5 (i)0.6 (n)13 ( )0.6 (t)0.6 (h)0.5 (e)13.1 ( )0.6 (G)0.5 (r)0.6 (o)0.5 (u)0.6 (p)0.5 (\222)0.6 (s)36 ( )]TJ 0.038 Tc 0 -1.333 Td [(internationalisation)12.4 ( strategy.)12.4 ( We)12.4 ( will)12.3 ( deepen)12.4 ( our)12.4 ( relationships)12.4 ( with)12.4 ( local)12.3 ( governments)12.3 ( and)13 ( )]TJ 0.025 Tc 0.033 Tw 0 -1.333 Td (partners to ensure the smooth progress of project development. To accele\rate the construction )Tj 0.006 Tw 0 -1.333 Td (progress of SDE, TSE and other Indonesian coal mine projects, the Group \will prioritise funds )Tj 0 Tw 0 -1.333 Td (for future capital investment to ensure that all projects proceed effici\ently as planned.)Tj /T1_1 1 Tf 0 -2.667 Td (CORPORATE GOVERNANCE)Tj /T1_0 1 Tf 0.041 Tw 0 -2.667 Td (The Company has complied with the applicable code provisions in the Corp\orate Governance )Tj 0.017 Tw 0 -1.333 Td (Code \(the \223)Tj /T1_1 1 Tf -0.025 Tw (Code)Tj /T1_0 1 Tf 0.017 Tw (\224\) as set out in Appendix C1 to the Rules Governing the Listing of S\ecurities )Tj 0.034 Tc 0.074 Tw 0 -1.333 Td [(on)9 ( )0.5 (the)9 ( )0.5 (Stock)9 ( )0.5 (Exchange)9 ( )0.5 (\(the)9 ( )0.5 (\223)]TJ /T1_1 1 Tf [(Listing)9 ( )0.5 (Rules)]TJ /T1_0 1 Tf [(\224\))9 ( )0.5 (during)9 ( )0.5 (the)9 ( )0.5 (financial)9 ( )0.5 (year)9 ( )0.5 (ended)9 ( )0.5 (3)9 (1)9 ( )0.5 (December)9 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.333 Td (2025.)Tj ET endstreamendobj72 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 45 \226)Tj /T1_1 1 Tf -18.766 58.583 Td (BUSINESS OUTLOOK)Tj 0 -2.667 Td (Leapfrog Development of SDE Coal Mine)Tj /T1_0 1 Tf 0.045 Tc 0.07 Tw 0 -2.667 Td [(At)12.5 ( the)12.5 ( beginning)12.6 ( of)12.5 ( 2)12.5 (0)12.6 (2)12.5 (6)12.5 (,)12.5 ( the)12.5 ( Group\222s)12.5 ( SDE)12.5 ( Coal)12.5 ( Mine)12.6 ( in)12.5 ( Indonesia)12.6 ( achieved)12.5 ( a)12.5 ( historical)20 ( )]TJ 0.041 Tc 0 -1.333 Td [(b)0.6 (r)0.5 (e)0.6 (a)0.5 (k)0.6 (t)0.5 (h)0.6 (r)0.5 (o)0.6 (u)0.5 (g)0.6 (h)0.5 (.)13.1 ( )0.6 (O)0.5 (n)13.1 ( )0.5 (1)13.1 (8)13 ( )0.6 (J)0.5 (a)0.6 (n)0.6 (u)0.5 (a)0.6 (r)0.5 (y)13.1 ( )0.5 (2)13.1 (0)13 (2)13.1 (6)13 (,)13.1 ( )0.5 (t)0.6 (h)0.5 (e)13.1 ( )0.6 (1)13 (1)13 (0)13.1 (3)13 ( )0.6 (s)0.6 (u)0.5 (p)0.6 (e)0.5 (r)0.6 (-)0.5 (l)0.6 (o)0.6 (n)0.5 (g)13 ( )0.6 (f)0.6 (u)0.5 (l)0.6 (l)0.5 (y)0.6 (-)0.5 (m)0.6 (e)0.5 (c)0.6 (h)0.5 (a)0.6 (n)0.6 (i)0.5 (s)0.6 (e)0.5 (d)13.1 ( )0.5 (w)0.6 (o)0.5 (r)0.6 (k)0.6 (i)0.5 (n)0.6 (g)13 ( )0.6 (f)0.5 (a)0.6 (c)0.5 (e)13.1 ( )0.6 (o)0.5 (f)16 ( )]TJ 0.025 Tc 0.08 Tw 0 -1.333 Td [(SDE Mine 1 was successfully put into production. With a length of 500 me\ters, it set )0.5 (a new )]TJ 0.011 Tw 0 -1.333 Td (world record for underground coal mining. Its daily production capacity \has increased by over )Tj 0.041 Tc 0.07 Tw 0 -1.333 Td [(3)12.2 (0)12.1 (%)12.2 ( compared)12.2 ( with)12.2 ( traditional)12.2 ( models,)12.1 ( with)12.2 ( an)12.2 ( expected)12.2 ( annual)12.1 ( million-tonne)12.2 ( increase)12.2 ( in)16 ( )]TJ 0.036 Tc 0.072 Tw 0 -1.333 Td [(ou)0.5 (tput)0.5 (.)11 ( )0.5 (Thi)0.5 (s)10.9 ( )0.5 (s)0.5 (ig)0.5 (nifi)0.5 (can)0.5 (t)11 ( )0.5 (te)0.5 (chno)0.5 (log)0.5 (ica)0.5 (l)11 ( )0.5 (bre)0.5 (akt)0.5 (hro)0.5 (ugh)11 ( )0.5 (de)0.5 (mon)0.5 (str)0.5 (ate)0.5 (s)11 ( )0.5 (the)11 ( )0.5 (G)0.5 (ro)0.5 (up\222s)11 ( )0.5 (l)0.5 (ea)0.5 (der)0.5 (shi)0.5 (p)11 ( )0.5 (in)11 ( )]TJ 0.051 Tc 0.07 Tw 0 -1.333 Td [(the)12.8 ( field)12.8 ( of)12.8 ( coal)12.8 ( mining,)12.8 ( and)12.9 ( also)12.9 ( injects)12.8 ( strong)12.9 ( momentum)12.8 ( into)12.8 ( the)12.8 ( production)12.9 ( capacity)26 ( )]TJ 0.025 Tc 0 Tw 0 -1.333 Td (release of the SDE Coal Mine.)Tj 0.066 Tw 0 -2.667 Td (The expansion project for the coal washing system of SDE Mine 1 is progr\essing as planned )Tj 0.003 Tw 0 -1.333 Td (and is expected to be put into operation by the end of April 2026, which\ will add an additional )Tj 0.052 Tw 0 -1.333 Td [(raw )0.5 (coal )0.5 (washing capacity )0.5 (of )0.5 (5 million )0.5 (tonnes )0.5 (per )0.5 (annum. Once all )0.5 (coal )0.5 (washing )0.5 (systems )0.5 (are )]TJ 0.048 Tc 0.07 Tw 0 -1.333 Td [(fully)12.8 ( operational,)12.9 ( the)12.9 ( total)12.8 ( raw)12.9 ( coal)12.8 ( washing)12.8 ( capacity)12.8 ( of)12.8 ( SDE)12.8 ( Mine)12.9 ( 1)12.8 ( will)12.9 ( increase)12.9 ( to)12.8 ( 1)12.8 (3)23 ( )]TJ 0.025 Tc 0.012 Tw 0 -1.333 Td (million tonnes per annum, which will meet the designed production capaci\ty of the mine. This )Tj 0.045 Tw 0 -1.333 Td (will ensure that the Group can efficiently process the produced raw coal\ and thus improve its )Tj 0 Tw 0 -1.333 Td (product quality and market competitiveness.)Tj 0.017 Tw 0 -2.667 Td (The ancillary pithead power plant of SDE Mine 1 has officially started o\peration on 21 March )Tj 0 Tw 0 -1.333 Td (2026 with a power of 30 MW, with a view to providing a stable and more c\ost-effective power )Tj 0.033 Tw 0 -1.333 Td (supply to the mining area, effectively reducing overall electricity use \costs, and achieving the )Tj 0 Tw 0 -1.333 Td (operating objectives of reducing cost and increasing efficiency.)Tj 0.045 Tc 0.07 Tw 0 -2.667 Td [(M)0.5 (ore)0.5 (ov)0.5 (er,)13 ( t)0.5 (he)12.9 ( )0.5 (de)0.5 (sig)0.5 (ne)0.5 (d)12.9 ( )0.5 (ann)0.5 (ua)0.5 (l)12.9 ( p)0.5 (ro)0.5 (duc)0.5 (ti)0.5 (on)12.9 ( )0.5 (ca)0.5 (pa)0.5 (cit)0.5 (y)12.9 ( )0.5 (for)13 ( S)0.5 (DE)13 ( Mi)0.5 (ne)13 ( 2)13 ( is)13 ( 1)12.9 (0)13 ( m)0.5 (ill)0.5 (ion)13 ( t)0.5 (onn)0.5 (es)0.5 (.)20 ( )]TJ 0.025 Tc 0.06 Tw 0 -1.333 Td (Currently, all works proceed as expected. The Group is about to start eq\uipment transfer and )Tj 0.042 Tc 0.07 Tw 0 -1.333 Td [(i)0.5 (ns)0.5 (t)0.5 (a)0.5 (l)0.5 (la)0.5 (t)0.5 (i)0.5 (o)0.5 (n,)13 ( )0.5 (a)0.5 (n)0.5 (d)12.9 ( )0.5 (t)0.5 (h)0.5 (e)13 ( m)0.5 (i)0.5 (n)0.5 (e)13 ( h)0.5 (a)0.5 (s)13 ( )0.5 (c)0.5 (om)0.5 (m)0.5 (e)0.5 (nc)0.5 (e)0.5 (d)13 ( )0.5 (pr)0.5 (o)0.5 (d)0.5 (u)0.5 (ct)0.5 (i)0.5 (o)0.5 (n)12.9 ( )0.5 (o)0.5 (n)13 ( )0.5 (2)12.9 (8)13 ( )0.5 (M)0.5 (a)0.5 (r)0.5 (ch)13 ( )0.5 (2)13 (0)12.9 (2)13 (6)13 (.)13 ( )0.5 (In)13 ( )0.5 (s)0.5 (y)0.5 (nc)13 ( )0.5 (w)0.5 (i)0.5 (th)13 ( )0.5 (t)0.5 (he)17.1 ( )]TJ 0.089 Tc 0 -1.333 Td [(development)12.6 ( of)12.5 ( SDE)12.6 ( Mine)12.6 ( 2)12.5 (,)12.6 ( the)12.6 ( supporting)12.5 ( coal)12.5 ( washing)12.5 ( system)12.5 ( was)12.6 ( established)64.1 ( )]TJ 0.031 Tc 0.077 Tw 0 -1.333 Td [(s)0.5 (i)0.5 (mu)0.5 (l)0.5 (t)0.5 (an)0.5 (e)0.5 (o)0.5 (u)0.5 (sl)0.5 (y)6 ( )0.5 (a)0.5 (n)0.5 (d)6 ( )0.5 (i)0.5 (s)6 ( )0.5 (e)0.5 (x)0.5 (pe)0.5 (c)0.5 (t)0.5 (e)0.5 (d)6 ( )0.5 (to)6.1 ( )0.5 (be)6.1 ( )0.5 (of)0.5 (f)0.5 (i)0.5 (c)0.5 (ia)0.5 (l)0.5 (l)0.5 (y)6 ( )0.5 (p)0.5 (ut)6 ( )0.5 (i)0.5 (n)0.5 (t)0.5 (o)6 ( )0.5 (o)0.5 (pe)0.5 (r)0.5 (a)0.5 (t)0.5 (io)0.5 (n)6 ( )0.5 (b)0.5 (y)6 ( )0.5 (t)0.5 (h)0.5 (e)6 ( )0.5 (e)0.5 (n)0.5 (d)5.9 ( )0.5 (o)0.5 (f)6 ( )0.5 (A)0.5 (p)0.5 (r)0.5 (i)0.5 (l)6 ( )0.5 (2)6 (0)6 (2)6 (6)6 (,)6 ( )]TJ 0.025 Tc 0.04 Tw 0 -1.333 Td (which will ensure that all raw coal produced by SDE Mine 2 is washed and\ thus significantly )Tj 0.081 Tw 0 -1.333 Td (improve the quality of commercial coal and increase sales revenue. The p\ithead power plant )Tj 0.031 Tc 0.077 Tw 0 -1.333 Td [(and)6 ( )0.5 (coal)5.9 ( )0.6 (washing)6 ( )0.5 (plant)6 ( )0.5 (of)6.1 ( )0.5 (SDE)6.1 ( )0.5 (Mine)6 ( )0.5 (2)6 ( )0.5 (are)6 ( )0.5 (under)6 ( )0.5 (accelerated)6 ( )0.5 (construction.)6 ( )0.5 (With)6 ( )0.5 (the)6 ( )0.5 (phased)6 ( )]TJ 0.04 Tc 0.07 Tw 0 -1.333 Td [(and)12.4 ( gradual)12.4 ( completion)12.4 ( and)12.4 ( commissioning)12.4 ( of)12.4 ( various)12.5 ( supporting)12.4 ( facilities,)12.4 ( they)12.4 ( will)12.4 ( help)15 ( )]TJ 0.025 Tc 0 Tw 0 -1.333 Td (rapidly increase production and achieve full capacity at each coal mine.\)Tj 0.044 Tc 0.07 Tw 0 -2.667 Td [(After)12.4 ( the)12.3 ( reporting)12.3 ( period,)12.3 ( the)12.4 ( 2)12.3 (0)12.3 (2)12.3 (6)12.3 ( Work)12.3 ( Plan)12.4 ( and)12.3 ( Budget)12.3 ( of)12.3 ( the)12.3 ( Group)12.3 ( obtained)12.3 ( formal)19 ( )]TJ 0.025 Tc 0.074 Tw 0 -1.333 Td (approval from the Ministry of Energy and Mineral Resources of Indonesia.\ According to the )Tj 0.039 Tc 0.07 Tw 0 -1.333 Td [(approval)12.8 ( document,)12.8 ( the)12.8 ( approved)12.8 ( coal)12.8 ( production)12.8 ( and)12.8 ( sales)12.9 ( volume)12.8 ( of)12.8 ( SDE)12.8 ( Coal)12.8 ( Mine)12.9 ( for)14 ( )]TJ 0.043 Tc 0 -1.333 Td [(2)12.8 (0)12.9 (2)12.8 (6)12.9 ( is)12.8 ( 1)12.8 (2)12.8 (.)12.9 (5)12.8 (0)12.9 ( million)12.8 ( tonnes,)12.9 ( with)12.8 ( the)12.8 ( quota)12.9 ( for)12.9 ( SDE)12.9 ( Mine)12.8 ( 1)12.8 ( and)12.8 ( SDE)12.8 ( Mine)12.8 ( 2)12.8 ( being)12.8 ( 8)12.8 (.)12.8 (9)12.9 (5)18 ( )]TJ 0.025 Tc 0 Tw 0 -1.333 Td (million tonnes and 3.55 million tonnes, respectively.)Tj ET endstreamendobj71 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 44 \226)Tj /T1_1 1 Tf -18.766 58.583 Td (CONTINGENT LIABILITIES AND LITIGATIONS)Tj /T1_0 1 Tf 0.063 Tc 0.07 Tw 0 -2.667 Td [(T)0.5 (h)0.6 (e)13 ( )0.5 (G)0.6 (r)0.5 (o)0.5 (u)0.5 (p)13.1 ( )0.5 (d)0.5 (i)0.5 (d)13.1 ( )0.5 (n)0.5 (o)0.6 (t)13 ( )0.5 (h)0.5 (a)0.6 (v)0.5 (e)13 ( )0.6 (a)0.5 (n)0.5 (y)13 ( )0.6 (m)0.5 (a)0.5 (t)0.6 (e)0.5 (r)0.5 (i)0.6 (a)0.5 (l)13 ( )0.6 (c)0.5 (o)0.5 (n)0.5 (t)0.6 (i)0.5 (n)0.5 (g)0.5 (e)0.6 (n)0.5 (t)13 ( )0.5 (l)0.6 (i)0.5 (a)0.5 (b)0.6 (i)0.5 (l)0.5 (i)0.5 (t)0.5 (i)0.6 (e)0.5 (s)13 ( )0.6 (a)0.5 (s)13 ( )0.6 (a)0.5 (t)13 ( )0.6 (3)13 (1)13 ( )0.5 (D)0.6 (e)0.5 (c)0.6 (e)0.5 (m)0.5 (b)0.6 (e)0.5 (r)13 ( )0.5 (2)13.1 (0)13 (2)13 (5)13 ( )0.6 (a)0.5 (s)38 ( )]TJ 0.025 Tc 0 Tw 0 -1.333 Td (disclosed in note 18 to the consolidated financial statements in this an\nouncement.)Tj /T1_1 1 Tf 0 -2.667 Td (FINAL DIVIDEND FOR THE YEAR ENDED 31 DECEMBER 2025)Tj /T1_0 1 Tf 0.061 Tc 0.07 Tw 0 -2.667 Td [(The)12.4 ( Board)12.4 ( does)12.3 ( not)12.3 ( recommend)12.4 ( the)12.4 ( payment)12.4 ( of)12.3 ( a)12.3 ( final)12.4 ( dividend)12.3 ( for)12.3 ( the)12.3 ( year)12.4 ( ended)12.3 ( 3)12.3 (1)36 ( )]TJ 0.025 Tc 0 Tw 0 -1.333 Td (December 2025 \(2024: HKD50,748,280\).)Tj /T1_1 1 Tf 0 -2.667 Td (EMPLOYEES AND REMUNERATION)Tj /T1_0 1 Tf 0.038 Tc 0.07 Tw 0 -2.667 Td [(As)12.5 ( of)12.6 ( 3)12.6 (1)12.6 ( December)12.6 ( 2)12.5 (0)12.6 (2)12.5 (5)12.6 (,)12.5 ( the)12.6 ( Group)12.6 ( employed)12.6 ( 4)12.5 (,)12.6 (0)12.5 (8)12.6 (9)12.5 ( employees.)12.5 ( The)12.6 ( Group)12.5 ( has)12.5 ( adopted)12.6 ( a)13.1 ( )]TJ 0.048 Tc 0 -1.333 Td [(performance-based)12.1 ( reward)12.1 ( system)12.1 ( to)12.1 ( motivate)12.1 ( its)12.2 ( staff)12.1 ( and)12.1 ( such)12.1 ( system)12.1 ( is)12.2 ( reviewed)12.1 ( on)12.1 ( a)23.1 ( )]TJ 0.051 Tc 0 -1.333 Td [(regular)12.6 ( basis.)12.7 ( In)12.6 ( addition)12.6 ( to)12.6 ( the)12.6 ( basic)12.7 ( salaries,)12.6 ( year-end)12.7 ( bonuses)12.7 ( may)12.7 ( be)12.7 ( offered)12.7 ( to)12.6 ( staff)26 ( )]TJ 0.025 Tc 0 Tw 0 -1.333 Td (members with outstanding performance.)Tj 0.024 Tc 0 -2.667 Td [(Subsidiaries of the Company established in the PRC are also subject to c\entral pension scheme)-1 ( )]TJ 0.042 Tc 0.07 Tw 0 -1.333 Td [(o)0.5 (pe)0.5 (r)0.5 (at)0.5 (ed)13 ( )0.5 (by)13 ( )0.5 (th)0.5 (e)12.9 ( )0.5 (l)0.5 (oc)0.5 (a)0.5 (l)12.9 ( )0.5 (mu)0.5 (n)0.5 (ic)0.5 (ip)0.5 (a)0.5 (l)12.9 ( )0.5 (go)0.5 (v)0.5 (er)0.5 (n)0.5 (me)0.5 (nt)0.5 (.)13 ( I)0.5 (n)13 ( a)0.5 (c)0.5 (co)0.5 (r)0.5 (da)0.5 (nc)0.5 (e)13 ( w)0.5 (i)0.5 (th)13 ( )0.5 (th)0.5 (e)12.9 ( )0.5 (r)0.5 (el)0.5 (e)0.5 (va)0.5 (n)0.5 (t)12.9 ( )0.5 (na)0.5 (t)0.5 (io)0.5 (na)0.5 (l)13 ( a)0.5 (n)0.5 (d)17 ( )]TJ 0.025 Tc 0.042 Tw 0 -1.333 Td (local labour and social welfare laws and regulations, subsidiaries of th\e Company established )Tj 0.053 Tc 0.07 Tw 0 -1.333 Td [(in)12.6 ( the)12.6 ( PRC)12.6 ( are)12.6 ( required)12.6 ( to)12.6 ( pay)12.6 ( on)12.6 ( behalf)12.6 ( of)12.7 ( their)12.6 ( employees)12.7 ( a)12.6 ( monthly)12.6 ( social)12.6 ( insurance)28 ( )]TJ 0.027 Tc 0.081 Tw 0 -1.333 Td [(premium)2 ( )0.5 (covering)1.9 ( )0.5 (pension)2 ( )0.5 (insurance,)2 ( )0.5 (medical)2 ( )0.5 (insurance,)2 ( )0.5 (unemployment)2 ( )0.5 (insurance)2.1 ( and)2 ( )0.5 (other)2 ( )]TJ 0.025 Tc 0.012 Tw 0 -1.333 Td (relevant insurance. Subsidiaries of the Company incorporated in Hong Kon\g have participated )Tj 0.083 Tw 0 -1.333 Td [(in )0.5 (mandatory provident fund )0.5 (scheme, )0.5 (if )0.5 (applicable, )0.5 (in )0.5 (accordance )0.5 (with )0.5 (Mandatory )0.5 (Provident )]TJ 0 Tw 0 -1.333 Td (Fund Schemes Ordinance.)Tj 0.041 Tc 0.07 Tw 0 -2.667 Td [(M)0.5 (or)0.5 (e)0.5 (ov)0.5 (e)0.5 (r,)13 ( )0.5 (th)0.5 (e)13 ( C)0.5 (o)0.5 (mp)0.5 (a)0.5 (ny)13 ( a)0.5 (d)0.5 (op)0.5 (t)0.5 (ed)13 ( )0.5 (a)13 ( p)0.5 (os)0.5 (t)0.5 (-I)0.5 (P)0.5 (O)12.9 ( )0.5 (s)0.5 (ha)0.5 (r)0.5 (e)13 ( o)0.5 (p)0.5 (ti)0.5 (on)13 ( )0.5 (sc)0.5 (h)0.5 (e)0.5 (me)13 ( t)0.5 (o)13 ( i)0.5 (n)0.5 (ce)0.5 (n)0.5 (ti)0.5 (v)0.5 (is)0.5 (e)13 ( a)0.5 (n)0.5 (d)12.9 ( )0.5 (r)0.5 (et)0.5 (a)0.5 (in)16 ( )]TJ 0.025 Tc 0.02 Tw 0 -1.333 Td (staff members who have made contribution to the success of the Group. Th\e Directors believe )Tj 0.023 Tc 0 Tw 0 -1.333 Td [(that the compensation packages offered by the Group to its staff are com\petitive in comparison)-2 ( )]TJ 0.025 Tc 0 -1.333 Td (with market standards and practices.)Tj ET endstreamendobj70 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 43 \226)Tj /T1_1 1 Tf -18.766 58.583 Td (PLEDGE OF SHARES BY THE CONTROLLING SHAREHOLDER)Tj /T1_0 1 Tf 0 -2.583 Td (As at 31 December 2025, the pledge of shares by the controlling sharehol\der with creditor was )Tj 0.071 Tw 0 -1.292 Td (fully released. Fortune Pearl International Limited, which is wholly-own\ed by Mr. Xu Jihua, )Tj 0.063 Tc 0.07 Tw 0 -1.292 Td [(t)0.5 (h)0.5 (e)13 ( )0.5 (c)0.6 (o)0.5 (n)0.5 (t)0.5 (r)0.5 (o)0.5 (l)0.5 (l)0.5 (i)0.5 (n)0.5 (g)13 ( )0.5 (s)0.6 (h)0.5 (a)0.5 (r)0.5 (e)0.5 (h)0.5 (o)0.5 (l)0.6 (d)0.5 (e)0.5 (r)0.5 (,)13 ( )0.5 (p)0.5 (l)0.5 (e)0.5 (d)0.6 (g)0.5 (e)0.5 (d)13 ( )0.5 (9)13 (4)13 (9)13 (,)13 (0)13 (0)13 (0)13 (,)13.1 (0)13 (0)13 (0)13 ( )0.5 (s)0.5 (h)0.5 (a)0.5 (r)0.5 (e)0.6 (s)13 ( )0.5 (o)0.5 (f)13 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )0.6 (C)0.5 (o)0.5 (m)0.5 (p)0.5 (a)0.5 (n)0.5 (y)0.5 (,)13 ( )0.5 (r)0.5 (e)0.6 (p)0.5 (r)0.5 (e)0.5 (s)0.5 (e)0.6 (n)0.5 (t)0.5 (i)0.5 (n)0.5 (g)38 ( )]TJ 0.031 Tc 0.077 Tw 0 -1.292 Td [(approximately)6 ( )0.5 (3)6 (7)6 (.)6 (4)6 (0)6 (%)6 ( )0.5 (of)6 ( )0.5 (the)6 ( )0.5 (issued)6 ( )0.5 (share)6 ( )0.6 (capital)6.1 ( )0.5 (of)6 ( )0.5 (the)6 ( )0.5 (Company)6 ( )0.5 (as)6 ( )0.5 (at)6 ( )0.5 (3)6 (1)6 ( )0.5 (December)6 ( )0.5 (2)6.1 (0)5.9 (2)6.1 (5)6 (.)6 ( )]TJ 0.025 Tc 0.064 Tw 0 -1.292 Td (The relevant loan was fully repaid on 3 January 2025. For details of the\ loan, please refer to )Tj 0 Tw 0 -1.292 Td (the announcement of the Company dated 9 August 2018.)Tj /T1_1 1 Tf 0.033 Tc 0.075 Tw 0 -2.583 Td [(SIGNIFICANT)8.1 ( )0.5 (INVESTMENTS,)8 ( )0.5 (MATERIAL)8 ( )0.5 (ACQUISITIONS)8 ( )0.5 (AND)8 ( )0.5 (DISPOSALS)8 ( )0.5 (OF)8 ( )]TJ 0.025 Tc 0 Tw 0 -1.292 Td (SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES)Tj /T1_0 1 Tf 0.039 Tc 0.07 Tw 0 -2.583 Td [(On)12.2 ( 1)12.2 ( April)12.3 ( 2)12.3 (0)12.3 (2)12.2 (5)12.3 (,)12.2 ( the)12.3 ( Group)12.3 ( acquired)12.3 ( and)12.3 ( completed)12.3 ( the)12.3 ( 7)12.2 (0)12.3 (%)12.3 ( equity)12.2 ( interest)12.3 ( of)12.3 ( PT)12.2 ( Trisula)14.1 ( )]TJ 0.025 Tc 0 Tw 0 -1.292 Td (Sumber Energi \(the \223)Tj /T1_1 1 Tf -0.025 Tw (TSE)Tj /T1_0 1 Tf 0 Tw (\224\). TSE holds a coal mining business license in Indonesia.)Tj 0.043 Tc 0.07 Tw 0 -2.583 Td [(On)12.9 ( 1)12.8 (7)12.9 ( April)12.9 ( 2)12.8 (0)12.8 (2)12.9 (5)12.8 (,)12.8 ( the)12.8 ( Group)12.8 ( acquired)12.8 ( and)12.9 ( completed)12.8 ( the)12.8 ( 1)12.8 (0)12.8 (0)12.8 (%)12.9 ( interest)12.9 ( of)12.9 ( PT)12.9 ( Widyanusa)18.1 ( )]TJ 0.025 Tc 0 Tw 0 -1.292 Td (Mandiri \(the \223)Tj /T1_1 1 Tf -0.025 Tw (WM)Tj /T1_0 1 Tf 0 Tw (\224\). WM holds 25% equity interest in SDE and is entitled to 15% of th\e total )Tj 0.065 Tc 0.07 Tw 0 -1.292 Td [(saleable)12.7 ( coal)12.7 ( production)12.7 ( of)12.7 ( SDE.)12.7 ( For)12.7 ( details,)12.7 ( please)12.7 ( refer)12.7 ( to)12.6 ( the)12.7 ( announcement)12.6 ( of)12.7 ( the)40 ( )]TJ 0.025 Tc 0 Tw 0 -1.292 Td (Company dated 28 March 2025 and 17 April 2025.)Tj 0.046 Tw 0 -2.583 Td [(On )0.5 (5 )0.5 (June )0.5 (2025, )0.5 (the Group )0.5 (entered )0.5 (into a sales )0.5 (and )0.5 (purchase )0.5 (agreement )0.5 (with Mr. )0.5 (Xu )0.5 (Jihua, a )]TJ 0.064 Tw 0 -1.292 Td (controlling shareholder of the Company, for disposal of 100% equity inte\rest in the Disposal )Tj 0.038 Tc 0.07 Tw 0 -1.292 Td [(Group)12.6 ( at)12.6 ( a)12.7 ( consideration)12.6 ( of)12.7 ( RMB)12.7 (3)12.6 (0)12.6 (,)12.7 (0)12.6 (0)12.6 (0)12.7 (,)12.6 (0)12.7 (0)12.6 (0)12.6 (.)12.7 ( The)12.7 ( Disposal)12.6 ( Group)12.6 ( holds)12.7 ( five)12.7 ( coal)12.6 ( mines)12.7 ( in)13 ( )]TJ 0.025 Tc 0.049 Tw 0 -1.292 Td (China. Following the completion of disposal on 11 July 2025, the Group n\o longer holds any )Tj 0.015 Tw 0 -1.292 Td (interest in the Disposal Group. For details, please refer to the circula\r of the Company dated 5 )Tj 0 Tw 0 -1.292 Td (June 2025, 25 June 2025 and 11 July 2025.)Tj 0 -2.583 Td (On 8 September 2025, the Group acquired and completed the 30% equity int\erest of TSE. TSE )Tj 0 -1.292 Td (holds a coal mining business license in Indonesia.)Tj 0.056 Tc 0.07 Tw 0 -2.583 Td [(On)12.8 ( 8)12.7 ( December)12.7 ( 2)12.7 (0)12.7 (2)12.7 (5)12.8 (,)12.7 ( the)12.7 ( Group)12.8 ( acquired)12.7 ( and)12.8 ( completed)12.8 ( the)12.8 ( 3)12.7 (0)12.8 (%)12.7 ( equity)12.7 ( interest)12.7 ( of)12.7 ( PT)31 ( )]TJ 0.069 Tc 0 -1.292 Td [(Venerasi)12.2 ( Sejahtera)12.3 ( Energi)12.2 ( \(the)12.2 ( \223)]TJ /T1_1 1 Tf -0.069 Tw (VSE)Tj /T1_0 1 Tf 0.07 Tw [(\224\).)12.2 ( VSE)12.2 ( holds)12.3 ( a)12.2 ( coal)12.3 ( mining)12.2 ( business)12.2 ( license)12.3 ( in)44 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.292 Td (Indonesia.)Tj 0.056 Tc 0.07 Tw 0 -2.583 Td [(On)12.8 ( 8)12.7 ( December)12.7 ( 2)12.7 (0)12.7 (2)12.7 (5)12.8 (,)12.7 ( the)12.7 ( Group)12.8 ( acquired)12.7 ( and)12.8 ( completed)12.8 ( the)12.8 ( 3)12.7 (0)12.8 (%)12.7 ( equity)12.7 ( interest)12.7 ( of)12.7 ( PT)31 ( )]TJ 0.064 Tc 0 -1.292 Td [(Suprema)12.5 ( Marulabo)12.5 ( Energi)12.6 ( \(the)12.5 ( \223)]TJ /T1_1 1 Tf -0.064 Tw (SME)Tj /T1_0 1 Tf 0.07 Tw [(\224\).)12.5 ( SME)12.6 ( holds)12.5 ( a)12.6 ( coal)12.5 ( mining)12.5 ( business)12.5 ( license)12.5 ( in)39 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.292 Td (Indonesia.)Tj 0.023 Tc 0 Tw 0 -2.583 Td [(On 8 December 2025, the Group acquired and completed the 30% equity inte\rest of PT Inisiasi)-2 ( )]TJ 0.025 Tc 0 -1.292 Td (Merdeka Jaya \(the \223)Tj /T1_1 1 Tf -0.025 Tw (IMJ)Tj /T1_0 1 Tf 0 Tw (\224\). IMJ holds a coal mining business license in Indonesia.)Tj 0.082 Tw 0 -2.583 Td (During the year, save as disclosed in note 15 to the consolidated financ\ial statements in this )Tj 0.031 Tc 0.077 Tw 0 -1.292 Td [(announcement,)6 ( )0.5 (the)6 ( )0.5 (Group)6 ( )0.5 (did)6 ( )0.5 (not)6 ( )0.5 (have)6.1 ( )0.5 (any)6 ( )0.5 (significant)6 ( )0.5 (investments,)6.1 ( )0.5 (material)6 ( )0.5 (acquisitions)6 ( )0.5 (or)6 ( )]TJ 0.025 Tc 0 Tw 0 -1.292 Td (disposals of subsidiaries, associates and joint ventures.)Tj ET endstreamendobj69 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 42 \226)Tj /T1_1 1 Tf -0.025 Tw 12.23 58.249 Td (2025)Tj /T1_0 1 Tf 7.087 0 Td (2024)Tj /T1_2 1 Tf -9.218 -1.333 Td (RMB\222000)Tj /T1_3 1 Tf 7.255 0 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -36.12 -2.667 Td (Pledged and restricted deposits)Tj /T1_1 1 Tf -0.025 Tw 29.671 0 Td (612,403)Tj /T1_0 1 Tf 7.087 0 Td (151,663)Tj ET 0 0 0 1 K 1.11 w q 1 0 0 1 379.8425 670.0571 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 667.957 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 667.6291 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8819 670.0571 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8819 667.957 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 667.6291 Tm ( )Tj 0.038 Tc 0.07 Tw 12 0 0 12 56.6929 639.692 Tm [(For)12.8 ( the)12.8 ( funding)12.8 ( policy,)12.7 ( the)12.8 ( Group)12.7 ( funds)12.8 ( its)12.8 ( working)12.7 ( capital)12.8 ( and)12.8 ( other)12.8 ( capital)12.8 ( requirements)13 ( )]TJ 0.045 Tc 0 -1.333 Td [(f)0.5 (r)0.5 (o)0.6 (m)13 ( )0.5 (a)13 ( )0.6 (c)0.5 (o)0.5 (m)0.5 (b)0.5 (i)0.6 (n)0.5 (a)0.5 (t)0.5 (i)0.6 (o)0.5 (n)13 ( )0.5 (o)0.5 (f)13.1 ( )0.5 (v)0.5 (a)0.5 (r)0.6 (i)0.5 (o)0.5 (u)0.5 (s)13 ( )0.6 (s)0.5 (o)0.5 (u)0.5 (r)0.6 (c)0.5 (e)0.5 (s)0.5 (,)13.1 ( )0.5 (i)0.5 (n)0.5 (c)0.6 (l)0.5 (u)0.5 (d)0.5 (i)0.5 (n)0.5 (g)13.1 ( )0.5 (b)0.5 (u)0.5 (t)13 ( )0.6 (n)0.5 (o)0.5 (t)13 ( )0.5 (l)0.6 (i)0.5 (m)0.5 (i)0.5 (t)0.5 (e)0.6 (d)13 ( )0.5 (t)0.5 (o)13 ( )0.6 (i)0.5 (n)0.5 (t)0.5 (e)0.6 (r)0.5 (n)0.5 (a)0.5 (l)13 ( )0.6 (r)0.5 (e)0.5 (s)0.6 (o)0.5 (u)0.5 (r)0.5 (c)0.5 (e)13.1 ( )0.5 (a)0.5 (n)0.5 (d)20.1 ( )]TJ 0.025 Tc 0 Tw 0 -1.333 Td (external borrowing at reasonable interest rates.)Tj 0.049 Tw 0 -2.667 Td (For the treasury policy, the Group adopts centralized management on fina\ncing activities and )Tj 0 Tw 0 -1.333 Td (prudent financial management approach on the use of capital.)Tj /T1_1 1 Tf 0 -2.667 Td (Exposure to Fluctuations in Exchange Rates)Tj /T1_0 1 Tf 0.055 Tc 0.07 Tw 0 -2.667 Td [(The)12.6 ( Group\222s)12.7 ( cash)12.6 ( and)12.7 ( cash)12.6 ( equivalents)12.6 ( are)12.6 ( held)12.6 ( predominately)12.6 ( in)12.7 ( IDR,)12.7 ( RMB)12.7 ( and)12.6 ( USD.)30 ( )]TJ 0.023 Tc 0 Tw 0 -1.333 Td [(Operating outgoings incurred by the Group\222s subsidiaries in Indonesia\ are mainly denominated)-2 ( )]TJ 0.025 Tc 0.066 Tw 0 -1.333 Td (in IDR while overseas purchases are usually denominated in RMB. The Grou\p\222s subsidiaries )Tj 0.072 Tw 0 -1.333 Td (receive revenue in USD, IDR and RMB. The management is aware of the poss\ible exchange )Tj 0.051 Tw 0 -1.333 Td (rate exposure due to the continuing fluctuation of the exchange rate bet\ween RMB, USD and )Tj 0 Tw 0 -1.333 Td (IDR and will closely monitor its impact on the performance of the Group \to see if any hedging )Tj 0 -1.333 Td (policy is necessary. The Group currently does not have any foreign curre\ncy hedging policy.)Tj /T1_1 1 Tf 0 -2.667 Td (Pledge of assets of the Group and Guarantee)Tj /T1_0 1 Tf 0.04 Tc 0.07 Tw 0 -2.667 Td [(As)12.4 ( at)12.4 ( 3)12.4 (1)12.3 ( December)12.4 ( 2)12.3 (0)12.4 (2)12.4 (5)12.4 (,)12.4 ( the)12.3 ( pledged)12.4 ( assets)12.4 ( of)12.4 ( the)12.4 ( Continuing)12.4 ( Operations)12.4 ( in)12.3 ( an)12.4 ( aggregate)15 ( )]TJ 0.025 Tc 0.056 Tw 0 -1.333 Td (amount of RMB605.5 million \(as of 31 December 2024: RMB2,100.0 million\)\ were in forms )Tj 0 Tw 0 -1.333 Td (of cash and cash equivalents.)Tj 0.075 Tc 0.07 Tw 0 -2.667 Td [(As)12.2 ( at)12.2 ( 3)12.2 (1)12.2 ( December)12.2 ( 2)12.2 (0)12.1 (2)12.2 (5)12.2 (,)12.2 ( the)12.2 ( Group)12.1 ( continue)12.2 ( to)12.2 ( provide)12.2 ( guarantee)12.2 ( in)12.2 ( the)12.2 ( amount)12.2 ( of)50 ( )]TJ 0.027 Tc 0.081 Tw 0 -1.333 Td [(RMB)2 (2)2 (4)2 (9)2 (,)2 (0)2 (0)1.9 (0)2 (,)2 (0)2 (0)2 (0)2 ( )0.5 (for)2 ( )0.5 (borrowings)2 ( obtained)2 ( )0.5 (by)2 ( Tongmei)2 ( )0.5 (Qinfa)2 ( )0.5 (\(Zhuhai\))2 ( )0.5 (Holding)2 ( )0.5 (Co.,)2 ( )0.5 (Ltd,)2 ( an)2 ( )]TJ 0.025 Tc 0.011 Tw 0 -1.333 Td (associate of the Group. For details, please refer to the announcements o\f the Company dated 7 )Tj 0 Tw 0 -1.333 Td (June 2024.)Tj 0.029 Tc 0.079 Tw 0 -2.667 Td [(A)0.6 (s)4 ( )0.5 (d)0.5 (i)0.6 (s)0.6 (c)0.5 (l)0.6 (o)0.5 (s)0.6 (e)0.6 (d)4 ( )0.5 (i)0.5 (n)4.1 ( )0.5 (t)0.5 (h)0.6 (e)4 ( )0.5 (C)0.6 (o)0.5 (m)0.6 (p)0.5 (a)0.6 (n)0.6 (y)0.5 (\222)0.6 (s)4 ( )0.5 (a)0.6 (n)0.5 (n)0.6 (o)0.5 (u)0.6 (n)0.5 (c)0.6 (e)0.6 (m)0.6 (e)0.5 (n)0.6 (t)0.5 (s)4 ( )0.5 (d)0.6 (a)0.6 (t)0.5 (e)0.6 (d)4 ( )0.5 (2)4 (5)4 ( )0.5 (J)0.6 (u)0.6 (n)0.5 (e)4 ( )0.5 (2)4 (0)4 (2)4.1 (5)3.9 (,)4.1 ( )0.5 (t)0.5 (h)0.6 (e)4 ( )0.5 (D)0.6 (i)0.5 (s)0.6 (p)0.5 (o)0.6 (s)0.6 (a)0.5 (l)4 ( )0.5 (G)0.6 (r)0.6 (o)0.5 (u)0.6 (p)4 ( )0.5 (h)0.6 (a)0.5 (s)4 ( )]TJ 0.094 Tc 0.07 Tw 0 -1.333 Td [(banking)12.5 ( facilities)12.5 ( obtained)12.5 ( from)12.4 ( three)12.5 ( domestic)12.5 ( banks)12.4 ( in)12.5 ( an)12.4 ( aggregate)12.5 ( amount)12.5 ( of)69 ( )]TJ 0.025 Tc 0 Tw 0 -1.333 Td (RMB417,000,000, which remain guaranteed by the Group upon completion of \the Disposal.)Tj ET endstreamendobj67 0 obj<>endobj85 0 obj<>endobj86 0 obj<>stream H\n0E|"@ T!eчLR ,FTKWηCWep7A.5rj}4K]o|窏b.wEe 枞 (~ ֟j?q?r?-&z,.æF6՘^\: Sw\PDemʭe$7v8U&'~q.3l|6~Spj<ύ L fxes-$E c]u)p s l_}CC!xca O6OÇ͇aa0΄LnlnLY1^ ܣ>kZc95azyTlN~W endstreamendobj87 0 obj<>stream HtU TW!$Z8*'][Tp]P! 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(Overhead and others)Tj /T1_1 1 Tf -0.025 Tw 29.671 0 Td (218,075)Tj /T1_0 1 Tf 7.087 0 Td (874,443)Tj ET 0.5 w q 1 0 0 1 379.8425 335.8838 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 335.6508 Tm ( )Tj ET q 1 0 0 1 464.8819 335.8838 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 335.6508 Tm ( )Tj 0.025 Tc -0.025 Tw 12 0 0 12 56.6929 305.6738 Tm (Total)Tj /T1_1 1 Tf 29.671 0 Td (352,181)Tj /T1_0 1 Tf 6.287 0 Td (1,241,228)Tj ET 1.11 w q 1 0 0 1 379.8425 300.683 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 298.583 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 298.255 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8819 300.683 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8819 298.583 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 298.255 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.6929 270.318 Tm (Net Current Assets/\(Current Liabilities\) and Current Ratio)Tj /T1_2 1 Tf 0 -2.667 Td (The Group)Tj /T1_1 1 Tf -0.025 Tw 30.996 0 Td (2025)Tj /T1_0 1 Tf 7.087 0 Td (2024)Tj /T1_3 1 Tf -9.218 -1.333 Td (RMB\222000)Tj /T1_2 1 Tf 7.255 0 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -36.12 -2.667 Td (Current assets)Tj /T1_1 1 Tf -0.025 Tw 28.871 0 Td (2,123,023)Tj /T1_0 1 Tf 7.087 0 Td (2,075,584)Tj 0 Tw -35.957 -1.333 Td (Current liabilities)Tj /T1_1 1 Tf -0.025 Tw 28.488 0 Td (\(1,841,696\))Tj /T1_0 1 Tf 7.087 0 Td (\(4,170,532\))Tj ET 0.5 w q 1 0 0 1 379.8425 169.519 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 169.286 Tm ( )Tj ET q 1 0 0 1 464.8819 169.519 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 169.286 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6929 139.3089 Tm (Net current assets/\(liabilities\))Tj /T1_1 1 Tf -0.025 Tw 29.671 0 Td (281,327)Tj /T1_0 1 Tf 5.904 0 Td (\(2,094,948\))Tj ET 1.11 w q 1 0 0 1 379.8425 134.3181 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 132.2181 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 131.8901 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8819 134.3181 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8819 132.2181 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 131.8901 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6929 101.9131 Tm (Current ratio)Tj /T1_1 1 Tf -0.025 Tw 31.246 0 Td (1.15)Tj /T1_0 1 Tf 7.612 0 Td (0.5)Tj /T1_2 1 Tf 10 0 0 10 56.6929 73.9531 Tm (Note:)Tj /T1_0 1 Tf 0.069 Tw /Span<>> BDC ( )Tj EMC 3.402 0 Td (Current ratio is calculated as current assets divided by current liabili\ties. Current ratio improved due to )Tj 0 Tw 0 -1.4 Td (repayment of loan and the disposal of the Discontinued Operations.)Tj ET endstreamendobj90 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 38 \226)Tj 0.031 Tc 0.077 Tw -18.766 58.583 Td [(Th)0.5 (e)6 ( )0.5 (fo)0.5 (llo)0.5 (win)0.5 (g)6 ( )0.5 (ta)0.5 (ble)6.1 ( )0.5 (set)0.5 (s)6 ( )0.5 (fo)0.5 (rth)6 ( )0.5 (t)0.5 (he)6 ( )0.5 (f)0.5 (ull)0.5 (-ye)0.5 (ar)6.1 ( p)0.5 (rod)0.5 (uc)0.5 (tio)0.5 (n)6 ( )0.5 (fi)0.5 (gur)0.5 (es)6 ( )0.5 (a)0.5 (t)6 ( )0.5 (the)6 ( )0.6 (abo)0.5 (ve)0.5 (men)0.5 (tio)0.5 (ned)6 ( )0.5 (m)0.5 (ine)0.5 (s)6 ( )]TJ 0.025 Tc 0 Tw 0 -1.333 Td (for the years indicated:)Tj /T1_1 1 Tf 27.907 -2.667 Td (Year ended 31 December)Tj -0.025 Tw 3.088 -1.333 Td (2025)Tj /T1_0 1 Tf 7.087 0 Td (2024)Tj /T1_1 1 Tf 0 Tw -38.082 -1.333 Td (Raw coal production volume )Tj /T1_2 1 Tf -0.025 Tw (\(ii\))Tj 0 Tw 28.015 0 Td (\222000 tonnes)Tj /T1_3 1 Tf 7.199 0 Td (\222000 tonnes)Tj /T1_0 1 Tf -35.214 -2.667 Td (Huameiao Energy \227 Xingtao Coal)Tj /T1_1 1 Tf -0.025 Tw 30.721 0 Td (1,060)Tj /T1_0 1 Tf 7.087 0 Td (2,387)Tj 0 Tw -37.807 -1.333 Td (Huameiao Energy \227 Fengxi Coal)Tj /T1_1 1 Tf -0.025 Tw 31.521 0 Td (505)Tj /T1_0 1 Tf 6.287 0 Td (3,044)Tj 0 Tw -37.807 -1.333 Td (Huameiao Energy \227 Chongsheng Coal)Tj /T1_1 1 Tf -0.025 Tw 31.521 0 Td (571)Tj /T1_0 1 Tf 6.287 0 Td (1,294)Tj 0 Tw -37.807 -1.333 Td (Sumber Daya Energi \227 SDE Coal)Tj /T1_1 1 Tf -0.025 Tw 30.721 0 Td (5,420)Tj /T1_0 1 Tf 7.087 0 Td (2,569)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 379.8425 562.2489 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 562.0159 Tm ( )Tj ET q 1 0 0 1 464.8819 562.2489 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 562.0159 Tm ( )Tj 0.025 Tc -0.025 Tw 12 0 0 12 56.6929 532.0389 Tm (Total)Tj /T1_1 1 Tf 30.721 0 Td (7,556)Tj /T1_0 1 Tf 7.087 0 Td (9,294)Tj ET 1.11 w q 1 0 0 1 379.8425 527.048 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 524.948 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 524.6201 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8819 527.048 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8819 524.948 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 524.6201 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 391.5816 496.683 Tm (Year ended 31 December)Tj -0.025 Tw 3.088 -1.333 Td (2025)Tj /T1_0 1 Tf 7.087 0 Td (2024)Tj /T1_1 1 Tf 0 Tw -38.082 -1.333 Td (Washed coal production volume)Tj /T1_2 1 Tf 28.015 0 Td (\222000 tonnes)Tj /T1_3 1 Tf 7.199 0 Td (\222000 tonnes)Tj /T1_0 1 Tf -35.214 -2.667 Td (Huameiao Energy \227 Xingtao Coal )Tj /T1_3 1 Tf -0.025 Tw (\(i\))Tj /T1_1 1 Tf 31.521 0 Td (689)Tj /T1_0 1 Tf 6.287 0 Td (1,552)Tj 0 Tw -37.807 -1.333 Td (Huameiao Energy \227 Fengxi Coal )Tj /T1_3 1 Tf -0.025 Tw (\(i\))Tj /T1_1 1 Tf 31.521 0 Td (328)Tj /T1_0 1 Tf 6.287 0 Td (1,979)Tj 0 Tw -37.807 -1.333 Td (Huameiao Energy \227 Chongsheng Coal )Tj /T1_3 1 Tf -0.025 Tw (\(i\))Tj /T1_1 1 Tf 31.521 0 Td (371)Tj /T1_0 1 Tf 7.087 0 Td (841)Tj 0 Tw -38.607 -1.333 Td (Sumber Daya Energi \227 SDE Coal)Tj /T1_1 1 Tf -0.025 Tw 30.721 0 Td (3,147)Tj /T1_0 1 Tf 7.887 0 Td (308)Tj ET 0.5 w q 1 0 0 1 379.8425 379.8839 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 379.6509 Tm ( )Tj ET q 1 0 0 1 464.8819 379.8839 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 379.6509 Tm ( )Tj 0.025 Tc -0.025 Tw 12 0 0 12 56.6929 349.674 Tm (Total)Tj /T1_1 1 Tf 30.721 0 Td (4,535)Tj /T1_0 1 Tf 7.087 0 Td (4,680)Tj ET 1.11 w q 1 0 0 1 379.8425 344.6831 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 342.5831 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 342.2551 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8819 344.6831 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8819 342.5831 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 342.2551 Tm ( )Tj /T1_3 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 56.6929 316.3181 Tm (Notes:)Tj /T1_0 1 Tf 0.016 Tw 0 -2.8 Td (\(i\))Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (According to the competent person\222s report as at cut-off date of 31 D\ecember 2025, the historical operation )Tj 0.063 Tw 0 -1.4 Td (of the Xingtao Coal, Fengxi Coal and Chongsheng Coal achieved an average\ of 65% of mixed marketable )Tj 0 Tw 0 -1.4 Td (raw coal yield.)Tj -2.268 -2.8 Td (\(ii\))Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (The total raw coal production volume comprises the washed coal productio\n volume.)Tj ET endstreamendobj89 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 37 \226)Tj /T1_1 1 Tf -18.766 58.583 Td (OPERATING DATA)Tj 0 -2.667 Td (Reserves and Resources)Tj -0.025 Tw 22.47 -2.625 Td (Sumber)Tj 1.217 -1.292 Td (Daya)Tj 0 Tw -2.017 -1.292 Td (Energi \227 )Tj -1.35 -1.292 Td (SDE Coal )Tj /T1_2 1 Tf -0.025 Tw (\(i\))Tj /T1_1 1 Tf 9.489 3.875 Td (Trisula )Tj -0.252 -1.292 Td (Sumber )Tj 0 Tw -0.8 -1.292 Td (Energi \227 )Tj -1.295 -1.292 Td (TSE Coal )Tj /T1_2 1 Tf -0.025 Tw (\(i\))Tj /T1_1 1 Tf 10.318 0 Td (Total)Tj -37.779 -2.583 Td (Reserves)Tj /T1_3 1 Tf 0 Tc 0 Tw ( )Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 56.6929 584.5478 cm 0 0 m 51.011 0 l S Q BT 0.025 Tc -0.025 Tw 12 0 0 12 107.7038 586.0478 Tm (\(iii\))Tj /T1_0 1 Tf 0 Tw -4.251 -1.292 Td (Reserves as at 1 January 2025 )Tj /T1_2 1 Tf -0.025 Tw (\(Mt\))Tj /T1_0 1 Tf 23.109 0 Td (305.38)Tj 7.087 0 Td (378.79)Tj 7.087 0 Td (684.17)Tj /T1_2 1 Tf -37.282 -1.292 Td (Less: )Tj /T1_0 1 Tf 0 Tw 2.511 0 Td (Total coal reserve depleted from )Tj 0.56 -1.292 Td (mining operation for the year)Tj /T1_2 1 Tf ( \(Mt\))Tj /T1_0 1 Tf -0.025 Tw 20.705 0 Td (\(5.42\))Tj 0 Tc 0 Tw 8.795 0 Td (\226)Tj 0.025 Tc -0.025 Tw 5.379 0 Td (\(5.42\))Tj ET q 1 0 0 1 294.8031 534.7488 cm 0 0 m 73.701 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 289.1338 534.5158 Tm ( )Tj ET q 1 0 0 1 379.8425 534.7488 cm 0 0 m 73.701 0 l S Q BT 0.1 0 0 0.1 374.1732 534.5158 Tm ( )Tj ET q 1 0 0 1 464.8818 534.7488 cm 0 0 m 73.701 0 l S Q BT 0.1 0 0 0.1 459.2126 534.5158 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.6929 505.5388 Tm (Reserves as at 31 December 2025 )Tj /T1_3 1 Tf -0.025 Tw (\(Mt\))Tj /T1_1 1 Tf 23.109 0 Td (299.96)Tj 7.087 0 Td (378.79)Tj 7.087 0 Td (678.75)Tj ET q 1 0 0 1 294.8031 500.7397 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 289.1339 500.5067 Tm ( )Tj ET q 1 0 0 1 379.8425 500.7397 cm 0 0 m 73.701 0 l S Q BT 0.1 0 0 0.1 374.1732 500.5067 Tm ( )Tj ET q 1 0 0 1 464.8819 500.7397 cm 0 0 m 73.701 0 l S Q BT 0.1 0 0 0.1 459.2126 500.5067 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6929 471.5297 Tm (\227 Proven reserves)Tj -0.025 Tw 24.159 0 Td (0.71)Tj 0 Tc 0 Tw 8.412 0 Td (\226)Tj 0.025 Tc -0.025 Tw 5.762 0 Td (0.71)Tj 0 Tw -38.332 -1.292 Td (\227 Probable reserves)Tj -0.025 Tw 23.109 0 Td (299.25)Tj 7.087 0 Td (378.79)Tj 7.087 0 Td (678.04)Tj ET 1.11 w q 1 0 0 1 294.8031 451.0389 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 294.8032 448.9389 cm 0 0 m 73.701 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 289.1339 448.6109 Tm ( )Tj ET 1.11 w q 1 0 0 1 379.8425 451.0389 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 448.9389 cm 0 0 m 73.701 0 l S Q BT 0.1 0 0 0.1 374.1732 448.6109 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8819 451.0389 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8819 448.9389 cm 0 0 m 73.701 0 l S Q BT 0.1 0 0 0.1 459.2126 448.6109 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.6929 419.6339 Tm (Resources \(measured + indicated )Tj 0 Tc ( )Tj ET 0.5 w q 1 0 0 1 56.6929 418.1339 cm 0 0 m 181.75 0 l S Q BT 0.025 Tc 12 0 0 12 65.0835 404.1339 Tm (+ inferred\) )Tj /T1_3 1 Tf -0.025 Tw (\(ii\))Tj ET q 1 0 0 1 65.0835 402.6339 cm 0 0 m 78.287 0 l S Q BT /T1_0 1 Tf 0 Tw 12 0 0 12 56.6929 388.6339 Tm (Resources as at 1 January 2025 )Tj /T1_2 1 Tf -0.025 Tw (\(Mt\))Tj /T1_0 1 Tf 23.109 0 Td (965.74)Tj 6.287 0 Td (1,053.47)Tj 7.087 0 Td (2,019.21)Tj /T1_2 1 Tf -36.482 -1.292 Td (Less: )Tj /T1_0 1 Tf 0 Tw 2.511 0 Td (Total coal reserve depleted from )Tj 0.56 -1.292 Td (mining operation for the year )Tj /T1_2 1 Tf -0.025 Tw (\(Mt\))Tj /T1_0 1 Tf 20.705 0 Td (\(5.42\))Tj 0 Tc 0 Tw 8.795 0 Td (\226)Tj 0.025 Tc -0.025 Tw 5.379 0 Td (\(5.42\))Tj ET q 1 0 0 1 294.8031 352.8348 cm 0 0 m 73.701 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 289.1338 352.6018 Tm ( )Tj ET q 1 0 0 1 379.8425 352.8348 cm 0 0 m 73.701 0 l S Q BT 0.1 0 0 0.1 374.1732 352.6018 Tm ( )Tj ET q 1 0 0 1 464.8818 352.8348 cm 0 0 m 73.701 0 l S Q BT 0.1 0 0 0.1 459.2126 352.6018 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.6929 323.6248 Tm (Resources \(measured + indicated )Tj 0 Tc ( )Tj 0.025 Tc 0.699 -1.292 Td (+ inferred\) as at 31 December 2025 )Tj /T1_3 1 Tf -0.025 Tw (\(Mt\) )Tj 0 Tc 0 Tw 18.288 0 Td ( )Tj 0.025 Tc -0.025 Tw -18.288 -1.292 Td (\(ii\))Tj /T1_1 1 Tf 22.41 0 Td (960.32)Tj 6.287 0 Td (1,053.47)Tj 7.087 0 Td (2,013.79)Tj ET 1.11 w q 1 0 0 1 294.8031 287.634 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 294.8031 285.534 cm 0 0 m 73.701 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 289.1338 285.206 Tm ( )Tj ET 1.11 w q 1 0 0 1 379.8425 287.634 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 285.534 cm 0 0 m 73.701 0 l S Q BT 0.1 0 0 0.1 374.1732 285.206 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 287.634 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 285.534 cm 0 0 m 73.701 0 l S Q BT 0.1 0 0 0.1 459.2126 285.206 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6929 256.229 Tm (Resources \(inferred\) as of 31 December )Tj -0.025 Tw 0.699 -1.292 Td (2025 )Tj /T1_3 1 Tf 2.375 0 Td (\(Mt\))Tj /T1_1 1 Tf 20.035 0 Td (379.40)Tj 7.087 0 Td (156.33)Tj 7.087 0 Td (535.73)Tj ET 1.11 w q 1 0 0 1 294.8031 235.7382 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 294.8032 233.6382 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 289.1339 233.3102 Tm ( )Tj ET 1.11 w q 1 0 0 1 379.8425 235.7382 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 233.6382 cm 0 0 m 73.701 0 l S Q BT 0.1 0 0 0.1 374.1732 233.3102 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8819 235.7382 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8819 233.6382 cm 0 0 m 73.701 0 l S Q BT 0.1 0 0 0.1 459.2126 233.3102 Tm ( )Tj /T1_2 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 56.6929 207.3731 Tm (Note:)Tj /T1_0 1 Tf 0.045 Tc 0.07 Tw 0 -2.8 Td [(\()20 (i)20 (\))]TJ /Span<>> BDC 1.019 0 Td ( )Tj EMC 1.249 0 Td [(T)0.6 (h)0.5 (e)13 ( )0.6 (G)0.5 (r)0.6 (o)0.5 (u)0.6 (p)13 ( )0.5 (e)0.6 (n)0.5 (g)0.5 (a)0.6 (g)0.5 (e)0.6 (d)13 ( )0.6 (a)0.5 (n)13.1 ( )0.5 (i)0.5 (n)0.6 (d)0.5 (e)0.6 (p)0.5 (e)0.6 (n)0.5 (d)0.5 (e)0.6 (n)0.5 (t)13 ( )0.6 (m)0.5 (i)0.6 (n)0.5 (e)0.6 (r)0.5 (a)0.6 (l)13 ( )0.5 (i)0.6 (n)0.5 (d)0.5 (u)0.6 (s)0.5 (t)0.6 (r)0.5 (y)13 ( )0.6 (c)0.5 (o)0.6 (n)0.5 (s)0.5 (u)0.6 (l)0.5 (t)0.6 (a)0.5 (n)0.6 (t)13 ( )0.5 (t)0.6 (o)13 ( )0.6 (e)0.5 (s)0.6 (t)0.5 (i)0.5 (m)0.6 (a)0.5 (t)0.5 (e)13.1 ( )0.5 (t)0.6 (h)0.5 (e)13.1 ( )0.5 (t)0.5 (o)0.6 (t)0.5 (a)0.6 (l)13 ( )0.5 (c)0.6 (o)0.5 (a)0.6 (l)13 ( )0.6 (r)0.5 (e)0.6 (s)0.5 (e)0.6 (r)0.5 (v)0.5 (e)0.6 (s)13 ( )0.6 (a)0.5 (n)0.6 (d)20 ( )]TJ 0.066 Tc 0 -1.4 Td [(r)0.5 (e)0.5 (so)0.5 (u)0.5 (rc)0.5 (e)0.5 (s)13 ( o)0.5 (f)13 ( t)0.5 (h)0.5 (e)13 ( S)0.5 (D)0.5 (E)12.9 ( )0.5 (C)0.5 (oa)0.5 (l)13 ( )0.5 (a)0.5 (s)12.9 ( )0.5 (a)0.5 (t)12.9 ( )0.5 (3)13 (1)12.9 ( )0.5 (D)0.5 (e)0.5 (ce)0.5 (m)0.5 (b)0.5 (er)13 ( )0.5 (2)13 (0)12.9 (2)13 (3)12.9 ( )0.5 (a)0.5 (n)0.5 (d)12.9 ( )0.5 (t)0.5 (he)13 ( )0.5 (T)0.5 (SE)13 ( )0.5 (Co)0.5 (a)0.5 (l)12.9 ( )0.5 (a)0.5 (s)13 ( a)0.5 (t)13 ( )0.5 (3)12.9 (0)13 ( S)0.5 (e)0.5 (p)0.5 (te)0.5 (m)0.5 (be)0.5 (r)13 ( )0.5 (2)12.9 (0)13 (2)13 (5)12.9 ( )0.5 (i)0.5 (n)41 ( )]TJ 0.025 Tc 0 Tw 0 -1.4 Td (accordance with the JORC Code.)Tj -2.268 -2.8 Td (\(ii\))Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (Resources \(measured + indicated + inferred\) comprises inferred resourc\es.)Tj 0.062 Tc 0.07 Tw -2.268 -2.8 Td [(\()37 (i)37 (i)37 (i)37 (\))]TJ /Span<>> BDC 1.625 0 Td ( )Tj EMC 0.643 0 Td [(Coal)12.4 ( reserves)12.4 ( of)12.4 ( SDE)12.4 ( Coal)12.3 ( as)12.4 ( at)12.4 ( 3)12.4 (1)12.4 ( December)12.4 ( 2)12.4 (0)12.4 (2)12.4 (5)12.4 ( included)12.4 ( the)12.4 ( 1)12.4 (5)12.4 (%)12.3 ( saleable)12.4 ( coal)12.4 ( entitled)12.4 ( by)12.4 ( PT)37 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.4 Td [(W)0.5 (i)0.5 (d)0.5 (y)0.5 (a)0.5 (n)0.5 (u)0.5 (s)0.5 (a)3 ( )0.5 (M)0.5 (a)0.6 (n)0.5 (di)0.5 (r)0.6 (i)3 ( \()0.5 (\223)]TJ /T1_1 1 Tf -0.028 Tw 9.703 0 Td [(W)0.5 (M)]TJ /T1_0 1 Tf 0.08 Tw 1.999 0 Td [(\224)0.5 (\))0.5 (,)3 ( )0.5 (a)3 ( )0.5 (s)0.5 (u)0.5 (b)0.5 (s)0.5 (i)0.5 (d)0.5 (i)0.5 (a)0.5 (r)0.6 (y)2.9 ( )0.5 (o)0.5 (f)3 ( )0.5 (t)0.5 (h)0.5 (e)3.1 ( )0.5 (C)0.5 (o)0.5 (m)0.5 (p)0.5 (a)0.5 (n)0.5 (y)3 ( )0.5 (a)0.5 (n)0.5 (d)3 ( )0.5 (o)0.5 (w)0.5 (n)0.5 (e)0.5 (d)3 ( )0.5 (2)3 (5)3 (%)3 ( )0.5 (e)0.5 (q)0.5 (u)0.5 (i)0.5 (t)0.5 (y)3 ( )0.5 (s)0.5 (h)0.5 (a)0.5 (r)0.5 (e)0.5 (s)3.1 ( )0.5 (o)0.5 (f)3 ( )0.5 (S)0.5 (D)0.5 (E)0.5 (.)3 ( )0.5 (O)0.5 (n)3 ( )0.5 (1)3 (7)3 ( )]TJ 0.025 Tc 0 Tw -11.702 -1.4 Td (April 2025, the Group completed the acquisition of WM including its enti\tlement on 15% saleable coal.)Tj ET endstreamendobj88 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 36 \226)Tj /T1_1 1 Tf -18.766 58.583 Td (Continuous Improvement of Supporting Facilities for SDE Mine 1)Tj /T1_0 1 Tf 0.055 Tw 0 -2.5 Td (The Group continued to optimise the supporting infrastructure of SDE Min\e 1. As of the end )Tj 0.014 Tw 0 -1.25 Td (of December 2025, the existing coal washing system was officially put in\to operation, with an )Tj 0.054 Tc 0.07 Tw 0 -1.25 Td [(a)0.5 (nn)0.5 (ua)0.5 (l)12.9 ( )0.5 (ra)0.5 (w)13 ( c)0.5 (o)0.5 (al)13 ( w)0.5 (as)0.5 (h)0.5 (ing)13 ( )0.5 (ca)0.5 (pa)0.5 (c)0.5 (it)0.5 (y)12.9 ( )0.5 (of)13 ( 8)13 ( )0.5 (mi)0.5 (ll)0.5 (ion)13 ( )0.5 (to)0.5 (nne)0.5 (s)0.5 (.)12.9 ( )0.5 (Th)0.5 (e)13 ( o)0.5 (pe)0.5 (ra)0.5 (t)0.5 (ion)13 ( )0.5 (of)13 ( t)0.5 (hi)0.5 (s)12.9 ( )0.5 (sy)0.5 (s)0.5 (te)0.5 (m)12.9 ( )0.5 (ha)0.5 (s)29 ( )]TJ 0.055 Tc 0 -1.25 Td [(effectively)12.2 ( improved)12.1 ( product)12.2 ( quality,)12.2 ( laying)12.2 ( the)12.2 ( groundwork)12.2 ( for)12.2 ( subsequent)12.2 ( production)30 ( )]TJ 0.025 Tc 0 Tw 0 -1.25 Td (capacity release.)Tj 0.045 Tw 0 -2.5 Td (As of 31 December 2025, the Group owned five coal mines in Indonesia. Th\e table sets forth )Tj 0 Tw 0 -1.25 Td (certain information about these coal mines.)Tj /T1_1 1 Tf -0.025 Tw 9.6 0 0 12 167.2441 547.0479 Tm (Location)Tj 9.546 0 Td (Ownership)Tj 0 Tw 7.47 0 Td (Site area)Tj -0.025 Tw 6.623 1.25 Td (Production )Tj 1.273 -1.25 Td (capacity)Tj 0 Tw 5.502 0 Td (Operation status)Tj /T1_2 1 Tf -12.845 -1.25 Td (\(sq. km\))Tj 4.337 0 Td (\(million tonnes\))Tj /T1_0 1 Tf -33.422 -2.5 Td (Sumber Daya Energi )Tj 1.001 -1.25 Td (\227 SDE Coal)Tj 10.515 1.25 Td (South Kalimantan, )Tj -0.025 Tw 1.001 -1.25 Td (Indonesia)Tj 11.585 1.25 Td (70%)Tj 6.829 0 Td (185)Tj 8.202 0 Td (20)Tj 0 Tw 2.797 0 Td (Under operation)Tj -41.929 -2.5 Td (Venerasi Sejahtera )Tj 1.001 -1.25 Td (Energi \227 VSE Coal)Tj 10.515 1.25 Td (South Kalimantan, )Tj -0.025 Tw 1.001 -1.25 Td (Indonesia)Tj 11.06 1.25 Td (100%)Tj 6.554 0 Td (91.38)Tj 8.255 0 Td (N/A)Tj 0 Tw 3.544 0 Td (Under exploration)Tj -41.929 -2.5 Td (Inisiasi Merdeka Jaya )Tj 1.001 -1.25 Td (\227 IMJ Coal)Tj 10.515 1.25 Td (South Kalimantan, )Tj -0.025 Tw 1.001 -1.25 Td (Indonesia)Tj 11.06 1.25 Td (100%)Tj 6.554 0 Td (33.05)Tj 8.255 0 Td (N/A)Tj 0 Tw 3.544 0 Td (Under exploration)Tj -41.929 -2.5 Td (Suprema Marulabo )Tj 1.001 -1.25 Td (Energi \227 SME Coal)Tj 10.515 1.25 Td (South Kalimantan, )Tj -0.025 Tw 1.001 -1.25 Td (Indonesia)Tj 11.06 1.25 Td (100%)Tj 7.879 0 Td (60)Tj 6.93 0 Td (N/A)Tj 0 Tw 3.544 0 Td (Under exploration)Tj -41.929 -2.5 Td (Trisula Sumber )Tj 0 Tc 9.6 0 0 12 122.1546 382.0479 Tm ( )Tj 0.025 Tc 9.6 0 0 12 66.3024 367.0479 Tm (Energi \227 TSE Coal)Tj 10.515 1.25 Td (South Kalimantan, )Tj -0.025 Tw 1.001 -1.25 Td (Indonesia)Tj 11.06 1.25 Td (100%)Tj 7.354 0 Td (169)Tj 7.455 0 Td (N/A)Tj 0 Tw 3.544 0 Td (Under exploration)Tj /T1_1 1 Tf 12 0 0 12 56.6929 339.0878 Tm (COAL CHARACTERISTICS)Tj /T1_0 1 Tf 0.044 Tw 0 -2.5 Td (Characteristics and typical commercial and raw coal quality of the comme\rcial coal produced )Tj 0 Tw 0 -1.25 Td (by the Group\222s operating mines are as follows:)Tj /T1_1 1 Tf 0 -6.25 Td (Coal Quality Characteristic)Tj -0.025 Tw 29.557 3.75 Td (Sumber)Tj 1.217 -1.25 Td (Daya)Tj 0 Tw -2.017 -1.25 Td (Energi \227)Tj -0.056 -1.25 Td (SDE Coal)Tj -0.025 Tw 8.195 3.75 Td (Trisula )Tj -0.252 -1.25 Td (Sumber )Tj 0 Tw -0.8 -1.25 Td (Energi \227 )Tj -0.001 -1.25 Td (TSE Coal)Tj /T1_0 1 Tf -35.843 -2.5 Td (Coal Seam)Tj 0 Tc 32.404 0 Td (B)Tj 0.025 Tc 3.332 0 Td (B, EV, EL)Tj -0.025 Tw -35.736 -1.25 Td (Moisture )Tj /T1_2 1 Tf 4.086 0 Td (\(%\))Tj /T1_0 1 Tf 25.835 0 Td (6.8\2267.7)Tj 6.562 0 Td (3.1\2263.71)Tj -36.482 -1.25 Td (Ash )Tj /T1_2 1 Tf 0 Tw 1.961 0 Td (\(db, %\))Tj /T1_0 1 Tf -0.025 Tw 26.91 0 Td (33.7\22635.1)Tj 6.037 0 Td (17.47\22628.58)Tj -34.907 -1.25 Td (Sulfur )Tj /T1_2 1 Tf 0 Tw 2.925 0 Td (\(db, %\))Tj /T1_0 1 Tf -0.025 Tw 27.796 0 Td (0.6\2261)Tj 5.237 0 Td (0.73\2261.51)Tj 0 Tw -35.957 -1.25 Td (Calorific Value )Tj /T1_2 1 Tf (\(average, kcal/kg, net, ar\))Tj /T1_0 1 Tf -0.025 Tw 27.821 0 Td (4,450\2264,500)Tj 7.087 0 Td (4,990\2266,056)Tj /T1_2 1 Tf 10 0 0 10 56.6928 101.1278 Tm (Note:)Tj /T1_0 1 Tf 0 Tw 0 -3 Td (The characteristic of coal is based on the quality of raw coal.)Tj ET endstreamendobj45 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 793.701]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj46 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 793.701]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj47 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 793.701]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj48 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 793.701]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj49 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 793.701]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj97 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 35 \226)Tj /T1_1 1 Tf -18.766 58.583 Td (BUSINESS REVIEW)Tj 0 -2.417 Td (Stepped up Presence in Indonesia and Completion of Multiple Strategic Ac\quisitions)Tj /T1_0 1 Tf 0.026 Tc 0.082 Tw 0 -2.417 Td [(2)1 (0)1 (2)1 (5)1 ( )0.5 (was)1 ( )0.5 (a)1 ( )0.5 (key)1 ( )0.5 (year)1 ( )0.5 (for)1 ( )0.5 (the)1 ( )0.5 (Group)1 ( )0.5 (to)1 ( )0.5 (deepen)1 ( )0.5 (its)1 ( )0.5 (development)1.1 ( )0.5 (and)1 ( )0.5 (integrate)1 ( )0.5 (resources)1.1 ( )0.5 (in)1 ( )0.6 (the)1 ( )]TJ 0.049 Tc 0.07 Tw 0 -1.208 Td [(Indonesian)12 ( market.)12.1 ( Following)12 ( the)12.1 ( successful)12.1 ( strategic)12.1 ( cooperation)12.1 ( with)12 ( Zhejiang)12.1 ( Energy)24 ( )]TJ 0.061 Tc 0 -1.208 Td [(I)0.5 (n)0.5 (t)0.5 (e)0.5 (r)0.5 (n)0.5 (a)0.5 (t)0.5 (i)0.5 (o)0.5 (n)0.5 (a)0.5 (l)13 ( )0.5 (L)0.5 (i)0.5 (m)0.5 (i)0.5 (t)0.5 (e)0.5 (d)13 ( )0.5 (o)0.5 (n)13 ( )0.5 (I)0.5 (n)0.5 (d)0.5 (o)0.5 (n)0.5 (e)0.5 (s)0.5 (i)0.5 (a)0.5 (\222)0.5 (s)13 ( )0.5 (S)0.5 (D)0.5 (E)13 ( )0.5 (C)0.5 (o)0.5 (a)0.5 (l)13 ( )0.5 (P)0.5 (r)0.5 (o)0.5 (j)0.5 (e)0.5 (c)0.5 (t)13 ( )0.5 (i)0.5 (n)13 ( )0.5 (2)13 (0)13 (2)13 (4)13 (,)13 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )0.5 (G)0.5 (r)0.5 (o)0.5 (u)0.5 (p)13 ( )0.5 (c)0.5 (o)0.5 (n)0.5 (t)0.5 (i)0.5 (n)0.5 (u)0.5 (a)0.5 (l)0.5 (l)0.5 (y)36 ( )]TJ 0.069 Tc 0 -1.208 Td [(expanded)12.4 ( its)12.5 ( local)12.4 ( business)12.4 ( territory)12.5 ( in)12.5 ( 2)12.5 (0)12.4 (2)12.4 (5)12.4 (.)12.5 ( A)12.5 ( series)12.5 ( of)12.5 ( precise)12.5 ( acquisitions)12.5 ( further)44 ( )]TJ 0.025 Tc 0 Tw 0 -1.208 Td (consolidated its leading position as the largest underground coal mine o\perator in Indonesia.)Tj 0.06 Tc 0.07 Tw 0 -2.417 Td [(On)12.1 ( 1)12.1 (7)12.2 ( April)12.2 ( 2)12.1 (0)12.1 (2)12.2 (5)12.1 (,)12.1 ( the)12.2 ( Group)12.2 ( completed)12.2 ( the)12.1 ( acquisition)12.2 ( of)12.2 ( 1)12.1 (0)12.2 (0)12.1 (%)12.1 ( equity)12.1 ( interest)12.1 ( in)12.1 ( PT.)35 ( )]TJ 0.025 Tc 0.03 Tw 0 -1.208 Td (Widyanusa Mandiri \(\223)Tj /T1_1 1 Tf -0.025 Tw (WM)Tj /T1_0 1 Tf 0.03 Tw [(\224\) that is )0.5 (entitled )0.5 (to 15% of the )0.5 (total saleable coal )0.5 (production )0.5 (from )]TJ 0.023 Tc 0 Tw 0 -1.208 Td [(the SDE Coal Mine at a consideration of IDR140.26 billion \(approximatel\y RMB61.3 million\).)-2 ( )]TJ 0.025 Tc 0.054 Tw 0 -1.208 Td (This strategic asset injection allows the Group to enjoy additional coal\ resource equity in the )Tj 0.016 Tw 0 -1.208 Td [(SDE )0.5 (Coal Mine, which )0.5 (is expected )0.5 (to bring stable )0.5 (economic returns )0.5 (to the )0.5 (Group in the )0.5 (future )]TJ 0 Tw 0 -1.208 Td (and further boost its core competitiveness in the Indonesian coal mining\ operations.)Tj 0.047 Tw 0 -2.417 Td (In the same year, the Group also acquired 100% equity interest in Treasu\re Bay Management )Tj 0.054 Tc 0.07 Tw 0 -1.208 Td [(Limited)12.8 ( \(\223)]TJ /T1_1 1 Tf -0.054 Tw (TBM)Tj /T1_0 1 Tf 0.07 Tw [(\224\))12.8 ( at)12.8 ( a)12.8 ( cash)12.8 ( consideration)12.8 ( of)12.8 ( USD)12.8 (7)12.8 (.)12.8 (9)12.8 ( million)12.8 ( \(approximately)12.8 ( RMB)12.8 (5)12.8 (6)12.8 (.)12.8 (7)12.8 (1)29 ( )]TJ 0.041 Tc 0 -1.208 Td [(million\).)12.4 ( TBM)12.4 ( is)12.4 ( engaged)12.4 ( in)12.4 ( the)12.4 ( coal)12.4 ( mining)12.4 ( and)12.4 ( trading)12.4 ( business)12.5 ( through)12.4 ( its)12.5 ( 7)12.4 (0)12.4 (%-owned)16 ( )]TJ 0.026 Tc 0.082 Tw 0 -1.208 Td [(Indonesian)1 ( )0.5 (subsidiary,)1 ( )0.5 (PT.)1 ( )0.5 (Trisula)1 ( )0.5 (Sumber)1 ( )0.5 (Energi)1 ( )0.5 (\(\223)]TJ /T1_1 1 Tf -0.026 Tw (TSE)Tj /T1_0 1 Tf 0.082 Tw [(\224\).)1 ( )0.5 (This)1.1 ( )0.5 (acquisition)1 ( )0.5 (not)1 ( )0.5 (only)1 ( )0.5 (scaled)1 ( )]TJ 0.025 Tc 0 Tw 0 -1.208 Td (up the Group\222s operations in Indonesia, but also demonstrated its unw\avering determination to )Tj 0 -1.208 Td (expand the Southeast Asian market and create greater returns for shareho\lders.)Tj 0.051 Tw 0 -2.417 Td (Additionally, the Group acquired the minority equity in several existing\ subsidiaries in 2025, )Tj 0.035 Tc 0.073 Tw 0 -1.208 Td [(in)10 ( )0.5 (order)10 ( )0.6 (to)10 ( )0.5 (further)10 ( )0.5 (optimise)10 ( )0.5 (its)10 ( )0.5 (governance)10 ( )0.5 (structure)10 ( )0.5 (and)10 ( )0.5 (increase)10 ( )0.5 (operational)10 ( )0.5 (efficiency.)10.1 ( )0.5 (In)10 ( )]TJ 0.046 Tc 0.07 Tw 0 -1.208 Td [(A)0.5 (ug)0.5 (u)0.5 (st)13 ( )0.5 (2)12.9 (0)13 (2)13 (5)12.9 (,)13 ( t)0.5 (h)0.5 (e)12.9 ( )0.5 (G)0.5 (r)0.5 (ou)0.5 (p)12.9 ( )0.5 (c)0.5 (om)0.5 (p)0.5 (le)0.5 (t)0.5 (ed)13 ( )0.5 (th)0.5 (e)13 ( a)0.5 (c)0.5 (q)0.5 (ui)0.5 (s)0.5 (it)0.5 (io)0.5 (n)13 ( o)0.5 (f)13 ( 1)13 (0)12.9 (0)13 (%)13 ( e)0.5 (q)0.5 (ui)0.5 (t)0.5 (y)12.9 ( )0.5 (i)0.5 (nt)0.5 (e)0.5 (re)0.5 (s)0.5 (t)12.9 ( )0.5 (i)0.5 (n)12.9 ( )0.5 (P)0.5 (T.)13 ( )0.5 (Tr)0.5 (i)0.5 (su)0.5 (l)0.5 (a)21 ( )]TJ 0.025 Tc 0.068 Tw 0 -1.208 Td (Makmur Investama \(\223)Tj /T1_1 1 Tf -0.025 Tw (TMI)Tj /T1_0 1 Tf 0.068 Tw (\224\), thereby taking 100% control over TSE. In December 2025, the )Tj 0.046 Tc 0.07 Tw 0 -1.208 Td [(Group)12.3 ( further)12.3 ( purchased)12.3 ( 1)12.3 (0)12.3 (0)12.2 (%)12.3 ( equity)12.3 ( interest)12.3 ( in)12.3 ( PT.)12.3 ( Inisiasi)12.2 ( Merdeka)12.3 ( Jaya)12.3 ( \(\223)]TJ /T1_1 1 Tf -0.046 Tw (IMJ)Tj /T1_0 1 Tf 0.07 Tw [(\224\),)12.3 ( PT.)21.1 ( )]TJ 0.025 Tc 0.002 Tw 0 -1.208 Td (Suprema Marulabo Energi \(\223)Tj /T1_1 1 Tf -0.025 Tw (SME)Tj /T1_0 1 Tf 0.002 Tw (\224\) and PT. Venerasi Sejahtera Energi \(\223)Tj /T1_1 1 Tf -0.025 Tw (VSE)Tj /T1_0 1 Tf 0.002 Tw (\224\), respectively. )Tj 0.073 Tw 0 -1.208 Td (Upon completion of the above acquisitions, the Group further tightened c\ontrol over its core )Tj 0.041 Tw 0 -1.208 Td (assets in Indonesia, laying a more solid foundation for future efficient\ operation and resource )Tj -0.025 Tw 0 -1.208 Td (allocation.)Tj /T1_1 1 Tf 0 Tw 0 -2.417 Td (Steady Progress of SDE Coal Project and Satisfactory Construction of SDE\ Mine 2)Tj /T1_0 1 Tf 0.047 Tc 0.07 Tw 0 -2.417 Td [(As)12.1 ( currently)12.1 ( the)12.2 ( largest)12.1 ( underground)12.1 ( coal)12.1 ( mine)12.1 ( in)12.2 ( Indonesia,)12.1 ( the)12.2 ( SDE)12.1 ( Coal)12.1 ( Project)12.2 ( drew)22 ( )]TJ 0.068 Tc 0 -1.208 Td [(widespread)12.8 ( market)12.8 ( attention)12.7 ( in)12.8 ( terms)12.8 ( of)12.7 ( its)12.7 ( construction)12.8 ( progress.)12.7 ( Since)12.8 ( SDE)12.8 ( Mine)12.8 ( 1)42.9 ( )]TJ 0.025 Tc 0.046 Tw 0 -1.208 Td (commenced production in 2023, its operation has remained stable and its \production capacity )Tj 0.088 Tc 0.07 Tw 0 -1.208 Td [(has)12.9 ( been)12.8 ( gradually)12.8 ( released,)12.8 ( accumulating)12.8 ( valuable)12.9 ( experience)12.8 ( for)12.8 ( the)12.8 ( subsequent)63 ( )]TJ 0.067 Tc 0 -1.208 Td [(commissioning)12.9 ( of)12.8 ( the)12.9 ( super-long)12.9 ( working)12.9 ( face.)12.9 ( The)12.9 ( construction)12.9 ( of)12.9 ( SDE)12.9 ( Mine)12.8 ( 2)12.8 ( also)42 ( )]TJ 0.062 Tc 0 -1.208 Td [(progressed)12.2 ( in)12.2 ( an)12.3 ( orderly)12.2 ( manner)12.2 ( in)12.2 ( 2)12.2 (0)12.2 (2)12.3 (5)12.2 (,)12.3 ( with)12.3 ( all)12.2 ( works)12.3 ( proceeding)12.3 ( as)12.3 ( planned.)12.3 ( Upon)37 ( )]TJ 0.046 Tc 0 -1.208 Td [(commencement)12.9 ( of)12.9 ( production)12.9 ( of)12.9 ( SDE)12.9 ( Mine)12.9 ( 2)12.8 ( on)12.9 ( 2)12.8 (8)12.9 ( March)12.8 ( 2)12.9 (0)12.9 (2)12.9 (6)12.8 (,)12.9 ( the)12.9 ( mine)12.9 ( is)12.9 ( expe)0.5 (cted)12.9 ( to)21 ( )]TJ 0.025 Tc 0.078 Tw 0 -1.208 Td (enhance the Group\222s overall production capacity and competitiveness i\n the Southeast Asian )Tj 0.061 Tw 0 -1.208 Td [(market. )0.5 (It )0.5 (has )0.5 (successfully )0.5 (introduced )0.6 (mature )0.5 (domestic )0.5 (underground )0.6 (coal )0.5 (mining )0.6 (technology, )]TJ 0.09 Tc 0.07 Tw 0 -1.208 Td [(equipment,)12.1 ( and)12.1 ( management)12.2 ( experience)12.2 ( to)12.1 ( Indonesia,)12.2 ( continuously)12.1 ( promoting)12.1 ( the)65 ( )]TJ 0.025 Tc 0 Tw 0 -1.208 Td (modernisation of the local coal mining industry.)Tj ET endstreamendobj96 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 34 \226)Tj /T1_1 1 Tf -18.766 58.583 Td (\(Loss\)/Profit attributable to the equity shareholders of the Company)Tj -0.025 Tw 30.996 -2.667 Td (2025)Tj /T1_0 1 Tf 7.087 0 Td (2024)Tj /T1_2 1 Tf -9.218 -1.333 Td (RMB\222000)Tj /T1_3 1 Tf 7.255 0 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -36.12 -2.667 Td (Profit attributable to the equity shareholders of the )Tj 0 Tc ( )Tj 0.025 Tc 0.999 -1.333 Td (Company from the Continuing Operations)Tj /T1_1 1 Tf -0.025 Tw 29.197 0 Td (77,328)Tj /T1_0 1 Tf 7.087 0 Td (89,232)Tj 0 Tw -37.282 -1.333 Td (\(Loss\)/profit attributable to the equity shareholders )Tj 0 Tc ( )Tj 0.025 Tc 0.999 -1.333 Td (of the Company from the Discontinued Operations)Tj /T1_1 1 Tf -0.025 Tw 28.289 0 Td (\(171,186\))Tj /T1_0 1 Tf 7.47 0 Td (412,712)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 379.8425 594.2489 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 594.0159 Tm ( )Tj ET q 1 0 0 1 464.8819 594.2489 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 594.0159 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6929 564.0389 Tm (\(Loss\)/profit attributable to the equity shareholders )Tj 0 Tc ( )Tj 0.025 Tc 0.999 -1.333 Td (of the Company of the Group)Tj /T1_1 1 Tf -0.025 Tw 28.814 0 Td (\(93,858\))Tj /T1_0 1 Tf 6.945 0 Td (501,944)Tj ET 1.11 w q 1 0 0 1 379.8425 543.048 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 540.948 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 540.6201 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8819 543.048 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8819 540.948 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 540.6201 Tm ( )Tj 0.035 Tc 0.073 Tw 12 0 0 12 56.6929 512.683 Tm [(Profit)10 ( )0.5 (attributable)10.1 ( )0.5 (to)10 ( )0.5 (the)10 ( )0.5 (equity)10 ( )0.5 (shareholders)10 ( )0.6 (of)10 ( )0.5 (the)10 ( )0.5 (Company)10 ( )0.5 (of)10 ( )0.5 (the)10 ( )0.5 (Continuing)10 ( )0.5 (Operations)10 ( )]TJ 0.062 Tc 0.07 Tw 0 -1.333 Td [(d)0.5 (e)0.6 (c)0.5 (r)0.6 (e)0.5 (a)0.6 (s)0.6 (e)0.5 (d)13 ( )0.6 (d)0.5 (u)0.5 (e)13.1 ( )0.6 (t)0.5 (o)13 ( )0.6 (d)0.5 (e)0.6 (c)0.5 (r)0.6 (e)0.5 (a)0.6 (s)0.5 (e)13.1 ( )0.5 (i)0.6 (n)13 ( )0.5 (t)0.6 (h)0.5 (e)13.1 ( )0.5 (a)0.6 (v)0.5 (e)0.6 (r)0.5 (a)0.6 (g)0.5 (e)13 ( )0.6 (s)0.5 (e)0.6 (l)0.5 (l)0.6 (i)0.5 (n)0.5 (g)13.1 ( )0.5 (p)0.6 (r)0.5 (i)0.5 (c)0.6 (e)0.6 (s)13 ( )0.6 (o)0.5 (f)13 ( )0.6 (t)0.5 (h)0.6 (e)0.5 (r)0.5 (m)0.6 (a)0.5 (l)13.1 ( )0.5 (c)0.6 (o)0.5 (a)0.6 (l)0.5 (.)13 ( )0.6 (L)0.5 (o)0.6 (s)0.5 (s)13.1 ( )0.5 (f)0.6 (r)0.5 (o)0.5 (m)13.1 ( )0.5 (t)0.6 (h)0.5 (e)37 ( )]TJ 0.025 Tc 0.028 Tw 0 -1.333 Td (Discontinued Operations is mainly due to the gradual depletion of the co\al reserve of the coal )Tj 0.023 Tc 0 Tw 0 -1.333 Td [(mines in China decreased the production volume of the Discontinued Opera\tions and increased)-2 ( )]TJ 0.031 Tc 0.077 Tw 0 -1.333 Td [(the)6.1 ( )0.5 (loss)6 ( )0.5 (of)6 ( )0.5 (the)6 ( )0.5 (Discontinued)6 ( )0.5 (Operation.)6 ( )0.6 (The)6 ( )0.5 (Group)6 ( )0.5 (disposed)6 ( )0.5 (the)6.1 ( )0.5 (Disposal)6.1 ( )0.5 (Group)6 ( )0.5 (on)6 ( )0.5 (1)6 (1)6 ( )0.5 (July)6 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.333 Td (2025.)Tj /T1_1 1 Tf 0.027 Tc 0.081 Tw 0 -2.667 Td [(Earnings)1.9 ( )0.5 (before)2 ( )0.5 (interest,)2 ( )0.5 (tax,)2 ( )0.5 (depreciation,)2 ( )0.5 (and)2 ( amortisation)2 ( )0.5 (\(the)2 ( )0.5 (\223EBITDA\224\))2 ( )0.5 (from)2 ( )0.5 (the)2 ( )]TJ 0.025 Tc 0 Tw 0 -1.333 Td (Continuing Operations)Tj -0.025 Tw 30.996 -2.667 Td (2025)Tj /T1_0 1 Tf 7.087 0 Td (2024)Tj /T1_2 1 Tf -9.218 -1.333 Td (RMB\222000)Tj /T1_3 1 Tf 7.255 0 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -36.12 -2.667 Td (Profit after taxation from the Continuing Operations)Tj /T1_1 1 Tf -0.025 Tw 29.671 0 Td (124,604)Tj /T1_0 1 Tf 7.612 0 Td (81,282)Tj 0 Tw -37.282 -1.333 Td (\227 Net finance costs)Tj /T1_1 1 Tf -0.025 Tw 30.196 0 Td (74,083)Tj /T1_0 1 Tf 7.087 0 Td (11,618)Tj 0 Tw -37.282 -1.333 Td (\227 Income tax expense)Tj /T1_1 1 Tf -0.025 Tw 30.721 0 Td (5,866)Tj /T1_0 1 Tf 6.562 0 Td (36,316)Tj 0 Tw -37.282 -1.333 Td (\227 Depreciation)Tj /T1_1 1 Tf -0.025 Tw 29.671 0 Td (191,071)Tj /T1_0 1 Tf 7.087 0 Td (109,921)Tj 0 Tw -36.757 -1.333 Td (\227 Amortisation)Tj /T1_1 1 Tf -0.025 Tw 30.721 0 Td (2,162)Tj /T1_0 1 Tf 0 Tc 0 Tw 8.937 0 Td (\226)Tj ET 0.5 w q 1 0 0 1 379.8425 235.884 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0.1 0 0 0.1 374.1732 235.651 Tm ( )Tj ET q 1 0 0 1 464.8818 235.884 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 235.651 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6929 205.674 Tm (EBITDA from the Continuing Operations)Tj /T1_1 1 Tf -0.025 Tw 29.671 0 Td (397,786)Tj /T1_0 1 Tf 7.087 0 Td (239,137)Tj ET 1.11 w q 1 0 0 1 379.8425 200.6832 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 198.5832 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 198.2552 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8819 200.6832 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8819 198.5832 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 198.2552 Tm ( )Tj ET endstreamendobj95 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 33 \226)Tj /T1_1 1 Tf -18.766 58.583 Td (Operating profit)Tj -0.025 Tw 30.996 -2.625 Td (2025)Tj /T1_0 1 Tf 7.087 0 Td (2024)Tj /T1_2 1 Tf -9.218 -1.333 Td (RMB\222000)Tj /T1_3 1 Tf 7.255 0 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -36.12 -2.667 Td (Operating profit from the Continuing Operations)Tj /T1_1 1 Tf -0.025 Tw 29.671 0 Td (204,553)Tj /T1_0 1 Tf 7.087 0 Td (129,216)Tj 0 Tw -36.757 -1.333 Td (Operating \(loss\)/profit from the Discontinued Operations)Tj /T1_1 1 Tf -0.025 Tw 29.288 0 Td (\(268,828\))Tj /T1_0 1 Tf 7.47 0 Td (621,202)Tj 0.035 Tc 0.073 Tw -36.757 -2.413 Td [(O)0.5 (p)0.6 (e)0.5 (r)0.6 (a)0.5 (t)0.5 (i)0.6 (n)0.5 (g)10 ( )0.5 (p)0.5 (r)0.5 (o)0.6 (f)0.5 (i)0.5 (t)10.1 ( )0.5 (o)0.5 (f)10 ( )0.5 (t)0.5 (h)0.6 (e)10 ( )0.5 (C)0.5 (o)0.6 (n)0.5 (t)0.5 (i)0.5 (n)0.6 (u)0.5 (i)0.5 (n)0.5 (g)10 ( )0.5 (O)0.6 (p)0.5 (e)0.6 (r)0.5 (a)0.6 (t)0.5 (i)0.5 (o)0.5 (n)0.6 (s)10 ( )0.5 (i)0.5 (n)0.5 (c)0.6 (r)0.5 (e)0.6 (a)0.5 (s)0.5 (e)0.6 (d)10 ( )0.5 (d)0.5 (u)0.6 (e)10 ( )0.5 (t)0.5 (o)10 ( )0.5 (t)0.5 (h)0.6 (e)10 ( )0.5 (i)0.5 (n)0.5 (c)0.6 (r)0.5 (e)0.6 (a)0.5 (s)0.5 (e)0.6 (d)10 ( )0.5 (p)0.5 (r)0.6 (o)0.5 (d)0.5 (u)0.6 (c)0.5 (t)0.5 (i)0.5 (o)0.6 (n)10 ( )0.5 (o)0.5 (f)10 ( )]TJ 0.056 Tc 0.07 Tw 0 -1.292 Td [(SDE)12.6 ( Coal)12.6 ( although)12.6 ( the)12.6 ( average)12.6 ( selling)12.6 ( prices)12.6 ( of)12.6 ( thermal)12.6 ( coal)12.6 ( decreased.)12.6 ( Loss)12.6 ( from)12.6 ( the)31 ( )]TJ 0.025 Tc 0.028 Tw 0 -1.292 Td (Discontinued Operations is mainly due to the gradual depletion of the co\al reserve of the coal )Tj 0.023 Tc 0 Tw 0 -1.292 Td [(mines in China decreased the production volume of the Discontinued Opera\tions and increased)-2 ( )]TJ 0.031 Tc 0.077 Tw 0 -1.292 Td [(the)6.1 ( )0.5 (loss)6 ( )0.5 (of)6 ( )0.5 (the)6 ( )0.5 (Discontinued)6 ( )0.5 (Operation.)6 ( )0.6 (The)6 ( )0.5 (Group)6 ( )0.5 (disposed)6 ( )0.5 (the)6.1 ( )0.5 (Disposal)6.1 ( )0.5 (Group)6 ( )0.5 (on)6 ( )0.5 (1)6 (1)6 ( )0.5 (July)6 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.292 Td (2025.)Tj /T1_1 1 Tf 0 Tw 0 -2.583 Td (Net finance costs)Tj -0.025 Tw 30.996 -2.625 Td (2025)Tj /T1_0 1 Tf 7.087 0 Td (2024)Tj /T1_2 1 Tf -9.218 -1.333 Td (RMB\222000)Tj /T1_3 1 Tf 7.255 0 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -36.12 -2.667 Td (Net finance costs from the Continuing Operations)Tj /T1_1 1 Tf -0.025 Tw 29.813 0 Td (\(74,083\))Tj /T1_0 1 Tf 7.087 0 Td (\(11,618\))Tj 0 Tw -36.899 -1.333 Td (Net finance costs from the Discontinued Operations)Tj /T1_1 1 Tf -0.025 Tw 29.813 0 Td (\(17,969\))Tj /T1_0 1 Tf 6.562 0 Td (\(150,001\))Tj 0.035 Tc 0.073 Tw -36.374 -2.413 Td [(Net)10 ( )0.5 (finance)10 ( )0.5 (costs)10 ( )0.5 (of)10 ( )0.5 (the)10 ( )0.5 (Continuing)10 ( )0.5 (Operations)10 ( )0.6 (increased)10 ( )0.5 (due)10 ( )0.5 (to)10 ( )0.5 (increase)10 ( )0.5 (in)10 ( )0.5 (borrowing)10 ( )0.5 (and)10 ( )]TJ 0.03 Tc 0.078 Tw 0 -1.292 Td [(other)5 ( )0.5 (payable.)5 ( )0.6 (Net)5 ( )0.6 (finance)5 ( )0.5 (costs)5 ( )0.5 (from)5 ( )0.5 (the)5 ( )0.5 (Discontinued)5 ( )0.5 (Operations)5 ( )0.5 (decreased)5 ( )0.5 (mainly)5 ( )0.5 (due)5 ( )0.5 (to)5.1 ( )]TJ 0.025 Tc 0.075 Tw 0 -1.292 Td (repayment of loan. The Group aims to maintain a reasonable level of gear\ing and borrowing )Tj -0.025 Tw 0 -1.292 Td (cost.)Tj /T1_1 1 Tf 0 Tw 0 -2.583 Td (\(Loss\)/Profit after taxation)Tj -0.025 Tw 30.996 -2.625 Td (2025)Tj /T1_0 1 Tf 7.087 0 Td (2024)Tj /T1_2 1 Tf -9.218 -1.333 Td (RMB\222000)Tj /T1_3 1 Tf 7.255 0 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -36.12 -2.667 Td (Profit after taxation from the Continuing Operations)Tj /T1_1 1 Tf -0.025 Tw 29.671 0 Td (124,604)Tj /T1_0 1 Tf 7.612 0 Td (81,282)Tj 0 Tw -37.282 -1.333 Td (\(Loss\)/profit after taxation from the Discontinued Operations)Tj /T1_1 1 Tf -0.025 Tw 29.288 0 Td (\(219,601\))Tj /T1_0 1 Tf 7.47 0 Td (475,088)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 379.8425 191.8288 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 191.5958 Tm ( )Tj ET q 1 0 0 1 464.8819 191.8288 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 191.5958 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6929 161.6187 Tm (\(Loss\)/profit for the year)Tj /T1_1 1 Tf -0.025 Tw 29.813 0 Td (\(94,997\))Tj /T1_0 1 Tf 6.945 0 Td (556,370)Tj ET 1.11 w q 1 0 0 1 379.8425 156.628 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 154.528 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 154.2 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8819 156.628 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8819 154.528 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 154.2 Tm ( )Tj 0.025 Tc 0.009 Tw 12 0 0 12 56.6929 127.2629 Tm (Profit after taxation of the Continuing Operations increased due to the \increased production of )Tj 0.056 Tc 0.07 Tw 0 -1.292 Td [(SDE)12.6 ( Coal)12.6 ( although)12.6 ( the)12.6 ( average)12.6 ( selling)12.6 ( prices)12.6 ( of)12.6 ( thermal)12.6 ( coal)12.6 ( decreased.)12.6 ( Loss)12.6 ( from)12.6 ( the)31 ( )]TJ 0.025 Tc 0.028 Tw 0 -1.292 Td (Discontinued Operations is mainly due to the gradual depletion of the co\al reserve of the coal )Tj 0.023 Tc 0 Tw 0 -1.292 Td [(mines in China decreased the production volume of the Discontinued Opera\tions and increased)-2 ( )]TJ 0.031 Tc 0.077 Tw 0 -1.292 Td [(the)6.1 ( )0.5 (loss)6 ( )0.5 (of)6 ( )0.5 (the)6 ( )0.5 (Discontinued)6 ( )0.5 (Operation.)6 ( )0.6 (The)6 ( )0.5 (Group)6 ( )0.5 (disposed)6 ( )0.5 (the)6.1 ( )0.5 (Disposal)6.1 ( )0.5 (Group)6 ( )0.5 (on)6 ( )0.5 (1)6 (1)6 ( )0.5 (July)6 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.292 Td (2025.)Tj ET endstreamendobj94 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 32 \226)Tj /T1_1 1 Tf -18.766 58.583 Td (Origins of coal and coal trading volume of the Group)Tj -0.025 Tw 30.996 -2.667 Td (2025)Tj /T1_0 1 Tf 7.087 0 Td (2024)Tj /T1_1 1 Tf 0 Tw -10.815 -1.333 Td (Sales volume)Tj /T1_0 1 Tf 7.254 0 Td (Sales volume)Tj /T1_2 1 Tf -6.507 -1.333 Td (\222000 tonnes)Tj /T1_3 1 Tf 7.199 0 Td (\222000 tonnes)Tj /T1_0 1 Tf -0.025 Tw -35.214 -2.667 Td (Indonesia)Tj /T1_1 1 Tf 30.721 0 Td (4,339)Tj /T1_0 1 Tf 7.887 0 Td (842)Tj -38.607 -1.333 Td (China)Tj /T1_1 1 Tf 30.721 0 Td (1,437)Tj /T1_0 1 Tf 7.087 0 Td (4,319)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 379.8425 610.2489 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 610.0159 Tm ( )Tj ET q 1 0 0 1 464.8819 610.2489 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 610.0159 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 12 0 0 12 425.3433 580.0389 Tm (5,776)Tj /T1_0 1 Tf 7.087 0 Td (5,161)Tj ET 1.11 w q 1 0 0 1 379.8425 575.048 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 572.948 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 572.6201 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8819 575.048 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8819 572.948 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 572.6201 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.6929 544.683 Tm (Gross profit)Tj -0.025 Tw 30.996 -2.667 Td (2025)Tj /T1_0 1 Tf 7.087 0 Td (2024)Tj /T1_2 1 Tf -9.218 -1.333 Td (RMB\222000)Tj /T1_3 1 Tf 7.255 0 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -36.12 -2.667 Td (Gross profit from the Continuing Operations)Tj /T1_1 1 Tf -0.025 Tw 29.671 0 Td (473,370)Tj /T1_0 1 Tf 7.087 0 Td (337,540)Tj 0 Tw -36.757 -1.333 Td (Gross profit from the Discontinued Operations)Tj /T1_1 1 Tf -0.025 Tw 30.196 0 Td (16,001)Tj /T1_0 1 Tf 6.562 0 Td (229,483)Tj 0 Tw -36.757 -1.333 Td (Gross profit margin of the Continuing Operations)Tj /T1_1 1 Tf -0.025 Tw 30.221 0 Td (25.7%)Tj /T1_0 1 Tf 7.254 0 Td (29.9%)Tj 0 Tw -37.474 -1.333 Td (Gross profit margin of the Discontinued Operations)Tj /T1_1 1 Tf -0.025 Tw 30.746 0 Td (4.4%)Tj /T1_0 1 Tf 6.729 0 Td (15.6%)Tj 0.04 Tc 0.07 Tw -37.474 -2.497 Td [(Gross)12.8 ( profit)12.8 ( decreased)12.9 ( mainly)12.8 ( due)12.9 ( to)12.8 ( the)12.8 ( average)12.8 ( selling)12.8 ( prices)12.9 ( of)12.8 ( thermal)12.8 ( coal)12.8 ( decreased.)15 ( )]TJ 0.025 Tc 0.079 Tw 0 -1.333 Td (Gradual depletion and increasing mining difficulty on depleting marginal\ reserve of the coal )Tj 0.009 Tw 0 -1.333 Td (mines in China led to a decrease in the production volume of the Discont\inued Operations and )Tj 0.046 Tc 0.07 Tw 0 -1.333 Td [(decrease)12.7 ( in)12.7 ( gross)12.6 ( profit)12.6 ( of)12.6 ( the)12.6 ( Discontinued)12.7 ( Operation.)12.7 ( The)12.7 ( Group)12.7 ( disposed)12.6 ( the)12.6 ( Disposal)21 ( )]TJ 0.025 Tc 0 Tw 0 -1.333 Td (Group on 11 July 2025.)Tj /T1_1 1 Tf 0 -2.667 Td (Other income, gains and losses)Tj -0.025 Tw 30.996 -2.667 Td (2025)Tj /T1_0 1 Tf 7.087 0 Td (2024)Tj /T1_2 1 Tf -9.218 -1.333 Td (RMB\222000)Tj /T1_3 1 Tf 7.255 0 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -36.12 -2.667 Td (Other \(losses\), income and gains from )Tj 0 Tc ( )Tj 0.025 Tc 0.999 -1.333 Td (the Continuing Operations)Tj /T1_1 1 Tf -0.025 Tw 28.814 0 Td (\(21,038\))Tj /T1_0 1 Tf 7.087 0 Td (\(42,126\))Tj 0 Tw -36.899 -1.333 Td (Other \(losses\), income and gains from )Tj 0 Tc ( )Tj 0.025 Tc 0.999 -1.333 Td (the Discontinued Operations)Tj /T1_1 1 Tf -0.025 Tw 29.339 0 Td (\(1,439\))Tj /T1_0 1 Tf 6.42 0 Td (589,428)Tj 0.024 Tc 0 Tw -36.757 -2.497 Td [(Other losses from Continuing Operations mainly consist foreign exchange \loss due to currency)-1 ( )]TJ 0.025 Tc 0 -1.333 Td (depreciation of IDR against RMB and USD.)Tj ET endstreamendobj93 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 31 \226)Tj /T1_1 1 Tf -18.766 58.583 Td (MANAGEMENT DISCUSSION AND ANALYSIS)Tj /T1_0 1 Tf 0 -2.667 Td (The Group is a leading non-state owned thermal coal supplier. It is prin\cipally engaged in coal )Tj 0.078 Tw 0 -1.333 Td (operation business involving coal mining, purchase and sales, filtering,\ storage and blending )Tj 0.058 Tw 0 -1.333 Td (of coal in Indonesia. During the year, the Group entered into a sales an\d purchase agreement )Tj 0.037 Tc 0.071 Tw 0 -1.333 Td [(with)12 ( )0.5 (Mr.)12 ( )0.5 (Xu)12.1 ( Jihua,)12 ( )0.5 (a)12.1 ( controlling)12 ( )0.5 (shareholder)12 ( )0.5 (of)12 ( )0.5 (the)12 ( )0.5 (Company,)12.1 ( )0.5 (for)12 ( )0.5 (disposal)12 ( )0.5 (of)12 ( )0.5 (1)12 (0)12 (0)12 (%)12.1 ( )0.5 (equity)12 ( )]TJ 0.051 Tc 0.07 Tw 0 -1.333 Td [(interest)12.8 ( in)12.8 ( Perpetual)12.8 ( Goodluck)12.8 ( Limited)12.8 ( and)12.8 ( its)12.8 ( subsidiaries)12.8 ( \(the)12.8 ( \223)]TJ /T1_1 1 Tf [(Disposal)12.9 ( Group)]TJ /T1_0 1 Tf 0.038 Tc 0.083 Tw [(\224)-12.6 (\) a)-12.7 (t a)13 ( )]TJ 0.061 Tc 0.07 Tw 0 -1.333 Td [(consideration)12.8 ( of)12.8 ( RMB)12.9 (3)12.8 (0)12.8 (,)12.9 (0)12.8 (0)12.8 (0)12.9 (,)12.8 (0)12.8 (0)12.8 (0)12.9 (.)12.8 ( The)12.8 ( Disposal)12.8 ( Group)12.8 ( holds)12.8 ( five)12.8 ( coal)12.9 ( mines)12.9 ( in)12.9 ( China.)36 ( )]TJ 0.025 Tc 0.026 Tw 0 -1.333 Td [(Following the completion of disposal on 11 July 2025, )0.5 (the )0.5 (Group no longer holds )0.5 (any interest )]TJ 0.078 Tw 0 -1.333 Td (in the Disposal Group. For details, please refer to the announcements an\d the circular of the )Tj 0.055 Tc 0.07 Tw 0 -1.333 Td [(Company)12.1 ( dated)12.1 ( 5)12.1 ( June)12.1 ( 2)12.1 (0)12.1 (2)12.1 (5)12.1 (,)12.1 ( 2)12.1 (5)12.1 ( June)12.1 ( 2)12.2 (0)12 (2)12.1 (5)12.1 ( and)12.1 ( 1)12.1 (1)12.1 ( July)12.1 ( 2)12.1 (0)12.1 (2)12.1 (5)12.1 (.)12.1 ( As)12.1 ( such,)12.1 ( the)12.1 ( operation)12.1 ( of)30 ( )]TJ 0.026 Tc 0.082 Tw 0 -1.333 Td [(Disposal)1 ( )0.5 (Group)1 ( )0.5 (was)1 ( )0.5 (classified)1 ( )0.5 (as)1 ( )0.5 (discontinued)1 ( )0.5 (operations)1 ( )0.5 (\(the)1 ( )0.5 (\223)]TJ /T1_1 1 Tf [(Discontinued)1 ( )0.5 (Operations)]TJ /T1_0 1 Tf -0.026 Tw [(\224\).)1 ( )]TJ 0.056 Tc 0.07 Tw 0 -1.333 Td [(The)12.3 ( operation)12.3 ( of)12.3 ( the)12.3 ( Group)12.2 ( other)12.2 ( than)12.3 ( the)12.3 ( Disposal)12.3 ( Group)12.3 ( was)12.3 ( classified)12.3 ( as)12.3 ( continuing)31 ( )]TJ 0.025 Tc 0 Tw 0 -1.333 Td (operations \(the \223)Tj /T1_1 1 Tf (Continuing Operations)Tj /T1_0 1 Tf -0.025 Tw (\224\).)Tj 0 Tw 0 -2.667 Td (During 2025, the volume of the Group\222s coal trading increased as comp\ared to the 2024 due to )Tj 0.05 Tw 0 -1.333 Td (the increased production in Indonesia. The coal selling prices of the Gr\oup during 2025 were )Tj 0.045 Tw 0 -1.333 Td (in range between RMB227 per tonne and RMB501 per tonne, as compared to t\he coal selling )Tj 0.046 Tw 0 -1.333 Td (prices between RMB237 per tonne and RMB640 per tonne during 2024. Averag\e coal selling )Tj 0 Tw 0 -1.333 Td (price decreased mainly due to adjustment on thermal coal market price du\ring the year.)Tj 0.024 Tc 0 -2.667 Td [(The average coal selling price \(total revenue divided by coal trading v\olume of the Group\) and)-1 ( )]TJ 0.031 Tc 0.077 Tw 0 -1.333 Td [(the)6 ( )0.5 (average)6 ( )0.5 (monthly)6 ( )0.5 (coal)6 ( )0.5 (trading)6 ( )0.5 (volume)6 ( )0.5 (of)6 ( )0.5 (the)6 ( )0.5 (Group)6 ( )0.5 (for)6 ( )0.6 (each)6 ( )0.5 (of)6 ( )0.5 (the)6 ( )0.5 (three)6.1 ( )0.5 (years)6 ( )0.5 (ended)6 ( )0.5 (3)6 (1)6 ( )]TJ 0.025 Tc 0 Tw 0 -1.333 Td (December 2025, 2024 and 2023 are set forth in the table below:)Tj /T1_1 1 Tf -0.025 Tw 25.799 -2.667 Td (2025)Tj /T1_0 1 Tf 6.142 0 Td (2024)Tj 6.142 0 Td (2023)Tj 0 Tw -38.082 -2.667 Td (Average coal selling price )Tj /T1_2 1 Tf (\(RMB per tonne\))Tj /T1_1 1 Tf -0.025 Tw 26.324 0 Td (382)Tj /T1_0 1 Tf 6.142 0 Td (504)Tj 6.142 0 Td (665)Tj 0 Tw -38.607 -1.333 Td (Average monthly coal trading volume )Tj /T1_2 1 Tf (\(\222000 tonnes\))Tj /T1_1 1 Tf -0.025 Tw 26.324 0 Td (481)Tj /T1_0 1 Tf 6.142 0 Td (430)Tj 6.142 0 Td (432)Tj /T1_1 1 Tf -38.607 -2.497 Td (Revenue)Tj 30.996 -2.667 Td (2025)Tj /T1_0 1 Tf 7.087 0 Td (2024)Tj /T1_3 1 Tf -9.218 -1.333 Td (RMB\222000)Tj /T1_2 1 Tf 7.255 0 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -36.12 -2.667 Td (Revenue from the Continuing Operations)Tj /T1_1 1 Tf -0.025 Tw 28.871 0 Td (1,839,026)Tj /T1_0 1 Tf 7.087 0 Td (1,130,222)Tj 0 Tw -35.957 -1.333 Td (Revenue from the Discontinued Operations)Tj /T1_1 1 Tf -0.025 Tw 29.671 0 Td (368,182)Tj /T1_0 1 Tf 6.287 0 Td (1,470,711)Tj 0 Tw -35.957 -1.333 Td (Revenue of Continuing Operations plus Discontinued )Tj -0.025 Tw 0.999 -1.333 Td (Operations)Tj /T1_1 1 Tf 27.872 0 Td (2,207,208)Tj /T1_0 1 Tf 7.087 0 Td (2,600,933)Tj ET 0 0 0 1 K 1.11 w q 1 0 0 1 379.8426 116.097 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8426 113.997 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1733 113.669 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8819 116.097 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.882 113.997 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 113.669 Tm ( )Tj 0.025 Tc 0.019 Tw 12 0 0 12 56.693 85.732 Tm (Revenue of the Continuing Operations increased due to the increase in tr\ading volume despite )Tj 0 Tw 0 -1.333 Td (the average selling prices of thermal coal decreased during the year.)Tj ET endstreamendobj40 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 793.701]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj41 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 793.701]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj42 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 793.701]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj43 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 793.701]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj44 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 793.701]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj102 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 30 \226)Tj /T1_1 1 Tf 10 0 0 10 56.6929 728.7079 Tm (18.)Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (CONTINGENT LIABILITIES/PROVISION)Tj 0 -2.8 Td (\(a\))Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (Financial guarantees issued)Tj /T1_0 1 Tf 0.068 Tw 0 -2.8 Td [(As at )0.5 (the end of each reporting period, the )0.5 (Group has issued the )0.5 (guarantees to certain )0.5 (banks and one )]TJ 0.027 Tw 0 -1.4 Td (other borrowing creditor in respect of borrowings made by Tongmei Qinfa,\ an associate of the Group. )Tj 0.037 Tw 0 -1.4 Td (Under the guarantee, the Group that is a party to the guarantee are join\tly and severally liable for any )Tj 0 Tw 0 -1.4 Td (of the borrowings of Tongmei Qinfa from those banks and the other borrow\ing creditor.)Tj 0.033 Tc 0.075 Tw 0 -2.8 Td [(The)8 ( )0.5 (maximum)8 ( )0.5 (liability)8 ( )0.5 (of)8 ( )0.5 (the)8.1 ( )0.5 (Group)8 ( )0.5 (at)8 ( )0.5 (3)8 (1)8 ( )0.5 (December)8 ( )0.5 (2)8 (0)8 (2)8 (5)8 ( )0.5 (under)8 ( )0.5 (the)8 ( )0.5 (guarantees)8 ( )0.5 (issued)8 ( )0.5 (is)8 ( )0.5 (all)8 ( )0.5 (of)8.1 ( )0.5 (the)8.1 ( )]TJ 0.111 Tc 0.07 Tw 0 -1.4 Td [(outstanding)12.8 ( amount)12.7 ( of)12.7 ( the)12.8 ( borrowings)12.7 ( of)12.8 ( Tongmei)12.7 ( Qinfa)12.8 ( amounting)12.8 ( to)12.8 ( approximately)86 ( )]TJ 0.025 Tc 0 Tw 0 -1.4 Td (RMB249,000,000 \(2024: RMB249,000,000\).)Tj /T1_1 1 Tf -2.268 -2.8 Td (\(b\))Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (Borrowing default clause)Tj /T1_0 1 Tf 0.06 Tc 0.07 Tw 0 -2.8 Td [(As)12.6 ( at)12.5 ( 3)12.5 (1)12.6 ( December)12.6 ( 2)12.5 (0)12.6 (2)12.5 (4)12.6 (,)12.5 ( the)12.6 ( settlement)12.5 ( agreements)12.5 ( entered)12.6 ( into)12.5 ( between)12.5 ( the)12.6 ( Group)12.5 ( and)12.5 ( asset)35 ( )]TJ 0.038 Tc 0 -1.4 Td [(management)12.4 ( companies)12.5 ( contained)12.5 ( default)12.5 ( clauses)12.5 ( which)12.5 ( the)12.5 ( Group)12.4 ( would)12.5 ( be)12.5 ( required)12.4 ( to)12.5 ( repay)12.5 ( the)13 ( )]TJ 0.03 Tc 0.078 Tw 0 -1.4 Td [(outstanding)5.1 ( balance)5 ( )0.5 (of)5 ( )0.5 (the)5.1 ( )0.5 (original)5 ( )0.5 (borrowings)5 ( )0.6 (and)5 ( )0.5 (interest)5 ( )0.5 (payable)5 ( )0.5 (if)5 ( )0.5 (the)5 ( )0.5 (Group)4.9 ( )0.6 (failed)5 ( )0.5 (to)5 ( )0.5 (repay)5 ( )0.5 (the)5 ( )]TJ 0.026 Tc 0.082 Tw 0 -1.4 Td [(new)1 ( )0.5 (borrowings)1 ( )0.5 (by)1 ( )0.5 (instalments)1 ( )0.6 (in)1 ( )0.5 (accordance)1 ( )0.5 (with)1 ( )0.5 (the)1 ( )0.5 (respective)1 ( )0.5 (repayment)1 ( )0.5 (schedule.)1 ( )0.5 (Particulars)1 ( )0.5 (of)1 ( )]TJ 0.025 Tc 0.016 Tw 0 -1.4 Td (the settlement agreements are disclosed in note 14. The aforesaid borrow\ings were fully settled during )Tj 0 Tw 0 -1.4 Td (the year ended 31 December 2025.)Tj /T1_1 1 Tf -4.535 -2.8 Td (19.)Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (EVENT AFTER THE REPORTING PERIOD)Tj /T1_0 1 Tf 0.004 Tw 0 -2.8 Td (As disclosed in the Company\222s announcement dated 5 March 2026, the Co\mpany, Mr. Xu as vendor and the )Tj 0.05 Tw 0 -1.4 Td (joint placing agents entered into the placing and subscription agreement\ on 5 March 2026, and pursuant to )Tj 0.039 Tc 0.07 Tw 0 -1.4 Td [(which)12.8 ( \(i\))12.8 ( the)12.7 ( vendor)12.8 ( has)12.8 ( agreed)12.8 ( to)12.7 ( sell,)12.7 ( and)12.7 ( the)12.7 ( joint)12.8 ( placing)12.8 ( agents)12.7 ( have)12.8 ( agreed)12.8 ( to)12.7 ( act)12.7 ( as)12.8 ( agents)12.7 ( of)12.8 ( the)14 ( )]TJ 0.035 Tc 0.073 Tw 0 -1.4 Td [(Vendor)10 ( )0.5 (to)10 ( )0.5 (procure,)10 ( )0.5 (on)10 ( )0.5 (a)10 ( )0.5 (best)10 ( )0.5 (effort)10 ( )0.5 (basis,)10 ( )0.5 (not)10 ( )0.5 (less)10 ( )0.5 (than)10 ( )0.5 (six)10 ( )0.5 (places)10 ( )0.5 (\(who)10.1 ( )0.5 (are)10.1 ( )0.5 (independent)10 ( )0.5 (third)10 ( )0.5 (parties\))10.1 ( )0.5 (to)10 ( )]TJ 0.042 Tc 0.07 Tw 0 -1.4 Td [(purchase,)12.5 ( the)12.5 ( placing)12.5 ( shares)12.6 ( at)12.6 ( the)12.6 ( placing)12.5 ( price)12.5 ( of)12.5 ( HK$)12.5 (3)12.6 (.)12.5 (5)12.5 (1)12.5 ( per)12.6 ( placing)12.5 ( share,)12.5 ( and)12.5 ( \(ii\))12.5 ( the)12.5 ( vendor)12.5 ( has)17 ( )]TJ 0.025 Tc 0.026 Tw 0 -1.4 Td (conditionally agreed to subscribe for, and the Company has conditionally\ agreed to allot and issue, the top-)Tj 0.036 Tw 0 -1.4 Td (up subscription shares at the top-up subscription price which is equival\ent to the Placing Price of HK$3.51 )Tj 0.032 Tc 0.076 Tw 0 -1.4 Td [(per)7 ( )0.5 (top-up)7 ( )0.5 (subscription)7 ( )0.5 (share)7 ( )0.5 (under)7 ( )0.5 (the)7 ( )0.5 (general)7 ( )0.5 (mandate)7 ( )0.5 (\(and)7 ( )0.5 (such)7 ( )0.5 (number)7 ( )0.5 (of)7 ( )0.5 (top-up)7 ( )0.5 (subscription)7 ( )0.5 (shares)7 ( )]TJ 0.025 Tc 0.011 Tw 0 -1.4 Td [(shall be )0.5 (the same as )0.5 (the number of )0.5 (placing )0.5 (shares actually placed by the joint placing )0.5 (agents )0.5 (pursuant to the )]TJ 0 Tw 0 -1.4 Td (placing and subscription agreement\).)Tj 0.035 Tc 0.073 Tw 0 -2.8 Td [(Assuming)10 ( )0.5 (the)10 ( )0.5 (placing)10 ( )0.5 (shares)10 ( )0.5 (are)10 ( )0.5 (placed)10 ( )0.5 (in)10 ( )0.5 (full,)10 ( )0.5 (the)10 ( )0.5 (placing)10 ( )0.5 (shares)10 ( )0.5 (represent)10 ( )0.5 (approximately)10 ( )0.5 (3)10 (.)10 (5)10 (5)10 (%)10 ( )0.5 (of)10 ( )0.5 (the)10 ( )]TJ 0.025 Tc 0.038 Tw 0 -1.4 Td (existing issued share capital of the Company as at the date of this anno\uncement and approximately 3.43% )Tj 0.011 Tw 0 -1.4 Td (of the issued share capital of the Company as enlarged by the allotment \and issue of the top-up subscription )Tj 0.067 Tw 0 -1.4 Td (shares immediately following the closing of the top-up subscription \(as\suming that, save for the allotment )Tj 0.074 Tw 0 -1.4 Td (and issue of the top-up subscription shares, there is no change in the i\ssued share capital of the Company )Tj 0 Tw 0 -1.4 Td (from the date of this announcement to the completion of the top-up subsc\ription\).)Tj 0.009 Tw 0 -2.8 Td (The gross proceeds from the top-up subscription are expected to be appro\ximately HK$315.9 million, while )Tj 0.059 Tc 0.07 Tw 0 -1.4 Td [(t)0.5 (h)0.5 (e)13 ( )0.5 (n)0.6 (e)0.5 (t)13 ( )0.5 (p)0.5 (r)0.5 (o)0.5 (c)0.5 (e)0.5 (e)0.5 (d)0.6 (s)13 ( )0.5 (f)0.5 (r)0.5 (o)0.5 (m)13 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )0.5 (t)0.6 (o)0.5 (p)0.5 (-)0.5 (u)0.5 (p)13 ( )0.5 (s)0.5 (u)0.5 (b)0.5 (s)0.5 (c)0.5 (r)0.5 (i)0.6 (p)0.5 (t)0.5 (i)0.5 (o)0.5 (n)0.5 (,)13 ( )0.5 (a)0.5 (f)0.5 (t)0.5 (e)0.5 (r)13 ( )0.6 (d)0.5 (e)0.5 (d)0.5 (u)0.5 (c)0.5 (t)0.5 (i)0.5 (n)0.5 (g)13 ( )0.5 (a)0.6 (l)0.5 (l)13 ( )0.5 (r)0.5 (e)0.5 (l)0.5 (e)0.5 (v)0.5 (a)0.5 (n)0.5 (t)13 ( )0.6 (f)0.5 (e)0.5 (e)0.5 (s)0.5 (,)13 ( )0.5 (c)0.6 (o)0.5 (s)0.5 (t)0.5 (s)13 ( )0.5 (a)0.5 (n)0.5 (d)13 ( )0.5 (e)0.5 (x)0.6 (p)0.5 (e)0.5 (n)0.5 (s)0.5 (e)0.5 (s)34 ( )]TJ 0.037 Tc 0.071 Tw 0 -1.4 Td [(\(including)12 ( )0.5 (but)12.1 ( )0.5 (not)12 ( )0.6 (limited)12 ( )0.5 (to)12 ( )0.5 (legal)12 ( )0.5 (expenses)12 ( )0.5 (and)12 ( )0.5 (disbursements\))12 ( )0.5 (incidental)12 ( )0.5 (to)12 ( )0.5 (the)12 ( )0.5 (placing)12 ( )0.5 (and)12 ( )0.5 (the)12 ( )0.5 (top-up)12 ( )]TJ 0.026 Tc 0.082 Tw 0 -1.4 Td [(subscription,)1 ( )0.5 (are)1 ( )0.5 (estimated)1 ( )0.5 (to)1 ( )0.5 (be)1 ( )0.5 (approximately)1 ( )0.5 (HK$)1 (3)1 (0)1 (9)1 (.)1 (6)1 ( )0.5 (million.)0.9 ( )0.6 (Immediately)1 ( )0.5 (following)1 ( )0.5 (the)1 ( )0.5 (completion)1 ( )]TJ 0.025 Tc 0 Tw 0 -1.4 Td (of the placing and the top-up subscription, the number of the Company\222\s ordinary shares is 2,627,413,985.)Tj 0 -2.8 Td (The placing and the top-up subscription has been completed on 13 March 2\026.)Tj ET endstreamendobj101 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 29 \226)Tj 10 0 0 10 102.0472 728.7079 Tm (The net cash outflow arising on the Disposal is as follows:)Tj /T1_1 1 Tf -0.025 Tw 39.616 -2.8 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -39.616 -2.8 Td (Cash consideration received)Tj -0.025 Tw 40.779 0 Td (30,000)Tj 0 Tw -40.779 -2.8 Td (Less: Cash and cash equivalents disposed)Tj -0.025 Tw 40.396 0 Td (\(47,329\))Tj 0 Tw -40.396 -2.8 Td (Less: Expenses directly attributable to the Disposal)Tj -0.025 Tw 40.921 0 Td (\(3,744\))Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 464.8818 612.2489 cm 0 0 m 73.701 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 459.2126 612.0159 Tm ( )Tj 0.025 Tc 10 0 0 10 102.0472 585.6989 Tm (Net cash outflow from the Disposal)Tj -0.025 Tw 40.396 0 Td (\(21,073\))Tj ET 1.11 w q 1 0 0 1 464.8818 581.048 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 578.948 cm 0 0 m 73.701 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 459.2126 578.6201 Tm ( )Tj /T1_2 1 Tf 0.025 Tc 10 0 0 10 79.3701 554.0031 Tm (Partial disposal of subsidiary)Tj /T1_0 1 Tf 0.034 Tc 0.074 Tw 0 -2.8 Td [(During)9 ( )0.5 (the)9 ( )0.5 (year)9 ( )0.5 (ended)8.9 ( )0.6 (3)8.9 (1)9 ( )0.5 (December)9 ( )0.5 (2)9 (0)9 (2)9 (4)9 (,)9 ( )0.5 (the)9 ( )0.5 (Group)9 ( )0.5 (entered)9 ( )0.5 (into)9 ( )0.5 (a)9 ( )0.5 (Sales)9 ( )0.5 (and)9 ( )0.5 (Purchase)9 ( )0.5 (Agreement)9 ( )0.5 (with)9 ( )]TJ 0.046 Tc 0.07 Tw 0 -1.4 Td [(Zhejiang)12.1 ( Energy)12.1 ( International)12.2 ( Limited,)12.1 ( which)12.2 ( is)12.1 ( an)12.1 ( independent)12.1 ( third)12.1 ( party,)12.1 ( to)12.1 ( dispose)12.1 ( of)12.2 ( 4)12.1 (0)12.2 (%)12.1 ( equity)21 ( )]TJ 0.051 Tc 0 -1.4 Td [(i)0.5 (n)0.5 (t)0.5 (e)0.5 (r)0.5 (e)0.6 (s)0.5 (t)13 ( )0.5 (i)0.5 (n)13 ( )0.5 (L)0.5 (e)0.5 (a)0.6 (d)12.9 ( )0.5 (F)0.6 (a)0.5 (r)13 ( )0.5 (D)0.5 (e)0.5 (v)0.5 (e)0.6 (l)0.5 (o)0.5 (p)0.5 (m)0.5 (e)0.5 (n)0.5 (t)13 ( )0.5 (L)0.5 (i)0.5 (m)0.5 (i)0.5 (t)0.5 (e)0.6 (d)13 ( )0.5 (\()0.5 (\223)]TJ /T1_2 1 Tf 20.402 0 Td [(L)0.5 (e)0.5 (a)0.5 (d)13 ( )0.5 (F)0.6 (ar)]TJ /T1_0 1 Tf 4.433 0 Td [(\224)0.5 (\))0.5 (,)13 ( )0.6 (a)0.5 (n)13 ( )0.5 (i)0.5 (n)0.5 (d)0.5 (i)0.5 (r)0.5 (e)0.5 (c)0.5 (t)13 ( )0.6 (w)0.5 (h)0.5 (o)0.5 (l)0.5 (l)0.5 (y)0.5 (-)0.5 (o)0.5 (w)0.5 (n)0.5 (e)0.5 (d)13 ( )0.6 (s)0.5 (u)0.5 (b)0.5 (s)0.5 (i)0.5 (d)0.5 (i)0.5 (a)0.5 (r)0.5 (y)13 ( )0.5 (o)0.5 (f)13 ( )0.6 (t)0.5 (h)0.5 (e)26 ( )]TJ 0.025 Tc 0 Tw -24.835 -1.4 Td (Company, at a consideration of RMB2,950 million \(the \223)Tj /T1_2 1 Tf (Lead Far Disposal)Tj /T1_0 1 Tf -0.025 Tw (\224\).)Tj 0.056 Tw 0 -2.8 Td (The Lead Far Disposal was completed during the year ended 31 December 20\24, and upon the completion )Tj 0.026 Tc 0.082 Tw 0 -1.4 Td [(the)1 ( )0.6 (Company)1 ( )0.5 (holds)1 ( )0.5 (6)1 (0)1 (%)1 ( )0.5 (equity)1 ( )0.5 (interest)1 ( )0.5 (in)1 ( )0.5 (Lead)1 ( )0.5 (Far,)1 ( )0.6 (and)1 ( )0.5 (the)1 ( )0.5 (directors)1 ( )0.5 (of)1 ( )0.5 (the)1 ( )0.5 (Company)1 ( )0.5 (are)1.1 ( )0.5 (of)1 ( )0.5 (the)1 ( )0.5 (opinion)0.9 ( )]TJ 0.06 Tc 0.07 Tw 0 -1.4 Td [(that)12.3 ( the)12.4 ( Group)12.3 ( still)12.3 ( retains)12.3 ( control)12.4 ( over)12.4 ( Lead)12.3 ( Far,)12.3 ( and)12.3 ( any)12.4 ( difference)12.4 ( between)12.4 ( the)12.4 ( fair)12.4 ( value)12.4 ( of)12.3 ( the)35 ( )]TJ 0.032 Tc 0.076 Tw 0 -1.4 Td [(consideration)7 ( )0.5 (and)7 ( )0.5 (the)7 ( )0.5 (carrying)7 ( )0.5 (amount)7 ( )0.5 (of)7 ( )0.5 (the)7 ( )0.5 (equity)7 ( )0.5 (interest)7 ( )0.5 (disposed)7 ( )0.5 (of)7 ( )0.5 (is)7 ( )0.5 (directly)7 ( )0.5 (recognised)7 ( )0.5 (in)7 ( )0.5 (equity,)6.9 ( )]TJ 0.025 Tc 0 Tw 0 -1.4 Td (with details set out below.)Tj /T1_1 1 Tf -0.025 Tw 41.883 -2.8 Td (RMB\222000)Tj /T1_0 1 Tf -41.883 -2.8 Td (Consideration)Tj 41.721 0 Td (2,950,000)Tj 0 Tw -41.721 -2.8 Td (Less: Fair value adjustment for imputed interest)Tj -0.025 Tw 42.663 0 Td (\(19,272\))Tj 0 Tw -42.663 -1.4 Td (Less: Estimated expenses directly attributable to the Disposal)Tj -0.025 Tw 43.188 0 Td (\(5,843\))Tj 0 Tw -43.188 -1.4 Td (Less: Carrying amount of equity interest disposed of)Tj -0.025 Tw 42.138 0 Td (\(664,079\))Tj ET 0.5 w q 1 0 0 1 464.8818 283.544 cm 0 0 m 73.701 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 459.2126 283.311 Tm ( )Tj 0.025 Tc 10 0 0 10 79.37 256.994 Tm (Gain on the Disposal as equity transaction \(including exchange reserve \impact\))Tj -0.025 Tw 41.721 0 Td (2,260,806)Tj ET 1.11 w q 1 0 0 1 464.8818 252.3432 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 250.2432 cm 0 0 m 73.701 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 459.2126 249.9152 Tm ( )Tj /T1_2 1 Tf 0.025 Tc 10 0 0 10 56.6929 225.2981 Tm (17.)Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (CAPITAL COMMITMENTS)Tj /T1_0 1 Tf 0.041 Tc 0.07 Tw 0 -2.8 Td [(At)12.2 ( each)12.1 ( reporting)12.1 ( date,)12.2 ( capital)12.1 ( commitments)12.1 ( outstanding)12.1 ( not)12.1 ( provided)12.1 ( for)12.2 ( in)12.1 ( the)12.2 ( consolidated)12.1 ( financial)16 ( )]TJ 0.025 Tc 0 Tw 0 -1.4 Td (statements are as follows:)Tj /T1_2 1 Tf -0.025 Tw 35.342 -2.8 Td (2025)Tj /T1_0 1 Tf 8.504 0 Td (2024)Tj /T1_3 1 Tf -10.635 -1.4 Td (RMB\222000)Tj /T1_1 1 Tf 8.672 0 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -41.883 -2.8 Td (Property, plant and equipment)Tj /T1_2 1 Tf -0.025 Tw 34.017 0 Td (124,650)Tj /T1_0 1 Tf 9.029 0 Td (91,173)Tj ET 1.11 w q 1 0 0 1 379.8425 108.6473 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 106.5473 cm 0 0 m 73.701 0 l S Q BT /T1_2 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 106.2193 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 108.6473 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 106.5473 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 106.2193 Tm ( )Tj ET endstreamendobj100 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 28 \226)Tj /T1_1 1 Tf 10 0 0 10 79.3701 728.7079 Tm (\(b\))Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (Details of the sale of the Disposal Group)Tj /T1_2 1 Tf -0.025 Tw 39.616 -2.8 Td (RMB\222000)Tj /T1_0 1 Tf -39.616 -2.8 Td (Consideration)Tj 40.779 0 Td (30,000)Tj 0 Tw -40.779 -2.8 Td (Less: Net liabilities disposed of attributable to owners of the Company)Tj -0.025 Tw 40.254 0 Td (376,956)Tj 0 Tw -40.254 -1.4 Td (Less: Expenses directly attributable to the Disposal)Tj -0.025 Tw 40.921 0 Td (\(3,744\))Tj 0 Tw -40.921 -1.4 Td (Less: Release of translation reserve)Tj -0.025 Tw 40.921 0 Td (\(5,470\))Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 464.8818 612.2489 cm 0 0 m 73.701 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 459.2126 612.0159 Tm ( )Tj 0.025 Tc 10 0 0 10 102.0472 585.6989 Tm (Gain on the Disposal as equity transaction)Tj -0.025 Tw 40.254 0 Td (397,742)Tj ET 1.11 w q 1 0 0 1 464.8818 581.048 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 578.948 cm 0 0 m 73.701 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 459.2126 578.6201 Tm ( )Tj 0.025 Tc 10 0 0 10 102.0472 554.0031 Tm (The carrying amounts of assets and liabilities as at the Disposal Date w\ere:)Tj /T1_1 1 Tf -0.025 Tw 39.448 -2.8 Td (RMB\222000)Tj /T1_3 1 Tf 0 Tw -39.448 -2.8 Td (Current assets)Tj /T1_0 1 Tf 0 -1.4 Td (Coal mining rights)Tj /T1_3 1 Tf -0.025 Tw 39.454 0 Td (1,242,305)Tj /T1_0 1 Tf 0 Tw -39.454 -1.4 Td (Property, plant and equipment)Tj /T1_3 1 Tf -0.025 Tw 39.454 0 Td (1,982,681)Tj /T1_0 1 Tf 0 Tw -39.454 -1.4 Td (Right-of-use assets)Tj /T1_3 1 Tf -0.025 Tw 41.304 0 Td (3,880)Tj /T1_0 1 Tf -41.304 -1.4 Td (Inventories)Tj /T1_3 1 Tf 40.779 0 Td (52,406)Tj /T1_0 1 Tf 0 Tw -40.779 -1.4 Td (Trade receivables)Tj /T1_3 1 Tf -0.025 Tw 40.254 0 Td (194,441)Tj /T1_0 1 Tf 0 Tw -40.254 -1.4 Td (Prepayments, deposits and other receivables)Tj /T1_3 1 Tf -0.025 Tw 39.454 0 Td (1,543,183)Tj /T1_0 1 Tf 0 Tw -39.454 -1.4 Td (Pledged and restricted deposits)Tj /T1_3 1 Tf -0.025 Tw 40.779 0 Td (25,855)Tj /T1_0 1 Tf 0 Tw -40.779 -1.4 Td (Cash and cash equivalents)Tj /T1_3 1 Tf -0.025 Tw 40.779 0 Td (47,329)Tj ET 0.5 w q 1 0 0 1 464.8818 381.544 cm 0 0 m 73.701 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 459.2126 381.311 Tm ( )Tj /T1_0 1 Tf 0.025 Tc 10 0 0 10 102.0472 354.994 Tm (Total assets)Tj /T1_3 1 Tf -0.025 Tw 39.454 0 Td (5,092,080)Tj ET q 1 0 0 1 464.8818 350.535 cm 0 0 m 73.701 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 459.2126 350.302 Tm ( )Tj 0.025 Tc 10 0 0 10 102.0472 323.985 Tm (Current liabilities)Tj /T1_0 1 Tf 0 -1.4 Td (Trade payables)Tj /T1_3 1 Tf -0.025 Tw 39.871 0 Td (\(303,112\))Tj /T1_0 1 Tf 0 Tw -39.871 -1.4 Td (Other payables and contract liabilities)Tj /T1_3 1 Tf -0.025 Tw 39.071 0 Td (\(3,372,360\))Tj /T1_0 1 Tf -39.071 -1.4 Td (Borrowings)Tj /T1_3 1 Tf 39.871 0 Td (\(375,000\))Tj /T1_0 1 Tf 0 Tw -39.871 -1.4 Td (Tax payable)Tj /T1_3 1 Tf -0.025 Tw 39.871 0 Td (\(193,087\))Tj /T1_0 1 Tf 0 Tw -39.871 -1.4 Td (Accrued reclamation obligations)Tj /T1_3 1 Tf -0.025 Tw 39.871 0 Td (\(103,814\))Tj /T1_0 1 Tf 0 Tw -39.871 -1.4 Td (Deferred taxation)Tj /T1_3 1 Tf -0.025 Tw 39.871 0 Td (\(315,918\))Tj ET q 1 0 0 1 464.8818 235.526 cm 0 0 m 73.701 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 459.2126 235.293 Tm ( )Tj /T1_0 1 Tf 0.025 Tc 10 0 0 10 102.0472 208.9759 Tm (Total liabilities)Tj /T1_3 1 Tf -0.025 Tw 39.071 0 Td (\(4,663,291\))Tj ET q 1 0 0 1 464.8818 204.5169 cm 0 0 m 73.701 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 459.2126 204.2839 Tm ( )Tj /T1_0 1 Tf 0.025 Tc 10 0 0 10 102.0472 177.9669 Tm (Net assets)Tj /T1_3 1 Tf -0.025 Tw 40.254 0 Td (428,789)Tj /T1_0 1 Tf 0 Tw -40.254 -1.4 Td (Less: Non-controlling interest)Tj /T1_3 1 Tf -0.025 Tw 39.871 0 Td (\(805,745\))Tj ET q 1 0 0 1 464.8818 159.5078 cm 0 0 m 73.701 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 459.2126 159.2748 Tm ( )Tj 0.025 Tc -0.025 Tw 10 0 0 10 500.7527 132.9578 Tm (\(376,956\))Tj ET 1.11 w q 1 0 0 1 464.8818 128.307 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 126.207 cm 0 0 m 73.701 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 459.2126 125.879 Tm ( )Tj ET endstreamendobj99 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 27 \226)Tj /T1_1 1 Tf 10 0 0 10 79.3701 728.7079 Tm (\(a\))Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (Financial performance and cash flow information)Tj /T1_0 1 Tf 0.064 Tw 0 -2.8 Td (The financial performance and cashflow information of the discontinued o\perations presented are for )Tj 0 Tw 0 -1.4 Td (the period from 1 January 2025 \(\223)Tj /T1_2 1 Tf (Period 2025)Tj /T1_0 1 Tf (\224\) to the Disposal Date and the year ended 31 December )Tj 0 -1.4 Td (2024 \(\223)Tj /T1_2 1 Tf (Year 2024)Tj /T1_0 1 Tf (\224\) are as follows:)Tj /T1_2 1 Tf 29.817 -2.8 Td (Period 2025)Tj /T1_0 1 Tf 9.444 0 Td (Year 2024)Tj /T1_1 1 Tf -0.025 Tw -8.317 -1.4 Td (RMB\222000)Tj /T1_3 1 Tf 8.672 0 Td (RMB\222000)Tj /T1_2 1 Tf -39.616 -2.8 Td (Revenue)Tj 31.75 0 Td (368,182)Tj /T1_0 1 Tf 7.704 0 Td (1,470,711)Tj 0 Tw -39.454 -1.4 Td (Cost of sales)Tj /T1_2 1 Tf -0.025 Tw 31.367 0 Td (\(352,181\))Tj /T1_0 1 Tf 7.704 0 Td (\(1,241,228\))Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 379.8425 584.2489 cm 0 0 m 73.701 0 l S Q BT /T1_2 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 584.0159 Tm ( )Tj ET q 1 0 0 1 464.8819 584.2489 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 584.0159 Tm ( )Tj /T1_2 1 Tf 0.025 Tc 10 0 0 10 102.0473 557.6989 Tm (Gross profit)Tj -0.025 Tw 32.275 0 Td (16,001)Tj /T1_0 1 Tf 7.979 0 Td (229,483)Tj 0 Tw -40.254 -2.8 Td (Other income, gains and losses)Tj /T1_2 1 Tf -0.025 Tw 32.417 0 Td (\(1,439\))Tj /T1_0 1 Tf 7.837 0 Td (589,428)Tj 0 Tw -40.254 -1.4 Td (Distribution expenses)Tj /T1_2 1 Tf 0 Tc 34.65 0 Td (\226)Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 7.596 0 Td (\(16\))Tj 0 Tw -42.246 -1.4 Td (Administrative expenses)Tj /T1_2 1 Tf -0.025 Tw 31.367 0 Td (\(272,088\))Tj /T1_0 1 Tf 8.504 0 Td (\(124,147\))Tj 0 Tw -39.871 -1.4 Td (Impairment losses on property, plant and equipment)Tj /T1_2 1 Tf 0 Tc 34.65 0 Td (\226)Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 5.746 0 Td (\(14,925\))Tj 0 Tw -40.396 -1.4 Td (Impairment losses on coal mining right)Tj /T1_2 1 Tf 0 Tc 34.65 0 Td (\226)Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 5.746 0 Td (\(34,907\))Tj 0 Tw -40.396 -1.4 Td (Impairment losses on prepayments and other receivables, net)Tj /T1_2 1 Tf -0.025 Tw 33.217 0 Td (\(265\))Tj /T1_0 1 Tf 8.504 0 Td (\(344\))Tj 0 Tw -41.721 -1.4 Td (Other expenses)Tj /T1_2 1 Tf -0.025 Tw 31.892 0 Td (\(11,037\))Tj /T1_0 1 Tf 8.504 0 Td (\(23,370\))Tj ET q 1 0 0 1 379.8425 441.2398 cm 0 0 m 73.701 0 l S Q BT /T1_2 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 441.0068 Tm ( )Tj ET q 1 0 0 1 464.8819 441.2398 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 441.0068 Tm ( )Tj /T1_2 1 Tf 0.025 Tc 10 0 0 10 102.0472 414.6898 Tm (Operating \(loss\)/profit)Tj -0.025 Tw 31.367 0 Td (\(268,828\))Tj /T1_0 1 Tf 8.887 0 Td (621,202)Tj ET [1.992 1.992]0 d q 1 0 0 1 379.8425 410.2308 cm 0 0 m 73.701 0 l S Q BT /T1_2 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 409.9978 Tm ( )Tj ET q 1 0 0 1 464.8818 410.2308 cm 0 0 m 73.701 0 l S Q BT 0.1 0 0 0.1 459.2126 409.9978 Tm ( )Tj /T1_0 1 Tf 0.025 Tc 10 0 0 10 102.0472 383.6808 Tm (Finance income)Tj /T1_2 1 Tf -0.025 Tw 34.125 0 Td (23)Tj /T1_0 1 Tf 8.504 0 Td (84)Tj 0 Tw -42.629 -1.4 Td (Finance costs)Tj /T1_2 1 Tf -0.025 Tw 31.892 0 Td (\(17,992\))Tj /T1_0 1 Tf 7.979 0 Td (\(150,085\))Tj ET []0 d q 1 0 0 1 379.8425 365.2217 cm 0 0 m 73.701 0 l S Q BT /T1_2 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 364.9887 Tm ( )Tj ET q 1 0 0 1 464.8818 365.2217 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 364.9887 Tm ( )Tj /T1_2 1 Tf 0.025 Tc 10 0 0 10 102.0472 338.6717 Tm (Net finance costs)Tj -0.025 Tw 31.892 0 Td (\(17,969\))Tj /T1_0 1 Tf 7.979 0 Td (\(150,001\))Tj ET [1.992 1.992]0 d q 1 0 0 1 379.8425 333.2432 cm 0 0 m 73.701 0 l S Q []0 d q 1 0 0 1 379.8425 331.3259 cm 0 0 m 73.701 0 l S Q BT /T1_2 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 331.5929 Tm ( )Tj ET [1.992 1.992]0 d q 1 0 0 1 464.8818 333.2432 cm 0 0 m 73.701 0 l S Q []0 d q 1 0 0 1 464.8818 331.3259 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 331.5929 Tm ( )Tj /T1_2 1 Tf 0.025 Tc 10 0 0 10 102.0472 305.2759 Tm (\(Loss\)/profit before taxation)Tj -0.025 Tw 31.367 0 Td (\(286,797\))Tj /T1_0 1 Tf 8.887 0 Td (471,201)Tj 0 Tw -40.254 -2.8 Td (Income tax credit)Tj /T1_2 1 Tf -0.025 Tw 32.275 0 Td (67,196)Tj /T1_0 1 Tf 9.029 0 Td (3,887)Tj ET q 1 0 0 1 379.8425 272.8168 cm 0 0 m 73.701 0 l S Q BT /T1_2 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 272.5838 Tm ( )Tj ET q 1 0 0 1 464.8818 272.8168 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 272.5838 Tm ( )Tj /T1_2 1 Tf 0.025 Tc 10 0 0 10 102.0472 246.2668 Tm (\(Loss\)/profit for the period from the discontinued )Tj -0.025 Tw 1.001 -1.4 Td (operations)Tj 30.366 0 Td (\(219,601\))Tj /T1_0 1 Tf 8.887 0 Td (475,088)Tj ET 1.11 w q 1 0 0 1 379.8425 227.616 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 225.516 cm 0 0 m 73.701 0 l S Q BT /T1_2 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 225.188 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 227.616 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 225.516 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 225.188 Tm ( )Tj /T1_2 1 Tf 0.025 Tc 10 0 0 10 102.0472 198.871 Tm (Cash flow from discontinued operation)Tj /T1_0 1 Tf 0 -1.4 Td (Net cash \(outflow\)/inflow from operating activities)Tj /T1_2 1 Tf -0.025 Tw 31.367 0 Td (\(187,776\))Tj /T1_0 1 Tf 8.887 0 Td (541,332)Tj 0 Tw -40.254 -1.4 Td (Net cash outflow from investing activities)Tj /T1_2 1 Tf -0.025 Tw 32.417 0 Td (\(9,594\))Tj /T1_0 1 Tf 9.304 0 Td (\(600\))Tj 0 Tw -41.721 -1.4 Td (Net cash inflow/\(outflow\) from financing activities)Tj /T1_2 1 Tf -0.025 Tw 31.75 0 Td (207,938)Tj /T1_0 1 Tf 8.121 0 Td (\(527,712\))Tj ET 0.5 w q 1 0 0 1 379.8424 152.4119 cm 0 0 m 73.701 0 l S Q BT /T1_2 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 152.1789 Tm ( )Tj ET q 1 0 0 1 464.8818 152.4119 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2125 152.1789 Tm ( )Tj 0.025 Tc 10 0 0 10 102.0471 125.8619 Tm (Net cash inflow)Tj /T1_2 1 Tf -0.025 Tw 32.275 0 Td (10,568)Tj /T1_0 1 Tf 8.504 0 Td (13,020)Tj ET 1.11 w q 1 0 0 1 379.8424 121.2111 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8424 119.1111 cm 0 0 m 73.701 0 l S Q BT /T1_2 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1731 118.7831 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 121.2111 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 119.1111 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2125 118.7831 Tm ( )Tj ET endstreamendobj98 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 26 \226)Tj /T1_1 1 Tf 10 0 0 10 56.6929 728.7079 Tm (16.)Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (DISCONTINUED OPERATIONS/PARTIAL DISPOSAL OF SUBSIDIARIES)Tj 0 -2.8 Td (Discontinued operations)Tj /T1_0 1 Tf 0.037 Tc 0.071 Tw 0 -2.8 Td [(A)0.5 (s)12 ( )0.5 (a)0.5 (t)12 ( )0.5 (3)12 (1)12 ( )0.5 (D)0.5 (e)0.5 (c)0.5 (e)0.5 (mb)0.5 (e)0.5 (r)12 ( )0.5 (2)12 (0)12 (2)12 (5)12 (,)12 ( )0.5 (P)0.5 (e)0.5 (r)0.5 (p)0.5 (e)0.5 (tu)0.5 (a)0.5 (l)12 ( )0.5 (G)0.5 (o)0.5 (o)0.5 (dl)0.5 (u)0.5 (c)0.5 (k)12 ( )0.5 (L)0.5 (im)0.5 (i)0.5 (t)0.5 (e)0.5 (d)11.9 ( )0.6 (\(\223)]TJ /T1_1 1 Tf -0.037 Tw 25.211 0 Td [(P)0.5 (e)0.5 (r)0.5 (pe)0.5 (t)0.5 (u)0.5 (a)0.5 (l)]TJ /T1_0 1 Tf 0.071 Tw [(\224)0.5 (\))0.5 (,)12 ( )0.5 (a)12 ( )0.5 (w)0.5 (h)0.5 (o)0.5 (l)0.5 (ly)12 ( )0.5 (o)0.5 (w)0.5 (n)0.5 (e)0.5 (d)12 ( )0.5 (s)0.5 (ub)0.5 (s)0.5 (i)0.5 (di)0.5 (a)0.5 (r)0.5 (y)12 ( )0.5 (o)0.5 (f)12 ( )0.5 (t)0.5 (he)12.1 ( )]TJ 0.025 Tc 0.026 Tw -25.211 -1.4 Td (Company, indirectly holds 80% equity interest in Shanxi Shuozhou Pinglu \District Huameiao Xingtao Coal )Tj 0.028 Tc 0.08 Tw 0 -1.4 Td [(Co.,)3 ( )0.5 (Ltd,)3 ( )0.5 (Shanxi)3 ( )0.5 (Shuozhou)3 ( )0.5 (Pinglu)3 ( )0.5 (District)3 ( )0.5 (Huameiao)3 ( )0.5 (Fengxi)3 ( )0.5 (Coal)3 ( )0.5 (Co.,)3 ( )0.5 (Ltd.)3.1 ( and)2.9 ( )0.5 (Shanxi)3 ( )0.5 (Shuozhou)3 ( )0.5 (Pinglu)3 ( )]TJ 0.056 Tc 0.07 Tw 0 -1.4 Td [(District)12.5 ( Huameiao)12.4 ( Chongsheng)12.5 ( Coal)12.4 ( Co.,)12.4 ( Ltd.)12.4 ( and)12.4 ( 1)12.5 (0)12.4 (0)12.5 (%)12.4 ( equity)12.4 ( interest)12.4 ( in)12.5 ( Shanxi)12.4 ( Xinzhou)12.4 ( Shenchi)31 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.4 Td [(Xinglong)3 ( )0.5 (Coal)3 ( )0.5 (Industry)3 ( )0.5 (Co.,)3 ( )0.5 (Ltd.)3 ( )0.5 (and)3 ( )0.5 (Shanxi)3 ( )0.5 (Xinzhou)3 ( )0.5 (Shenchi)3 ( )0.6 (Hongyuan)3 ( )0.5 (Coal)3 ( )0.5 (Industry)3 ( )0.5 (Co.,)3 ( )0.5 (Ltd.,)3 ( )0.5 (which)3 ( )]TJ 0.025 Tc 0.083 Tw 0 -1.4 Td [(hold )0.5 (coal mining )0.5 (licenses )0.5 (in )0.5 (PRC. )0.5 (As )0.5 (disclosed )0.5 (in )0.5 (the )0.5 (Company\222s )0.5 (announcement )0.5 (dated )0.5 (25 )0.5 (June )0.5 (2025, )0.5 (the )]TJ 0.04 Tc 0.07 Tw 0 -1.4 Td [(Group)12.4 ( entered)12.4 ( into)12.3 ( a)12.4 ( sales)12.4 ( and)12.4 ( purchase)12.4 ( agreement)12.3 ( with)12.4 ( Mr.)12.4 ( Xu)12.3 ( Jihua,)12.4 ( a)12.4 ( controlling)12.4 ( shareholder)12.4 ( of)12.4 ( the)15 ( )]TJ 0.07 Tc 0 -1.4 Td [(Company,)12.2 ( on)12.2 ( 5)12.2 ( June)12.2 ( 2)12.2 (0)12.2 (2)12.2 (5)12.3 ( for)12.2 ( disposal)12.3 ( of)12.2 ( 1)12.2 (0)12.2 (0)12.2 (%)12.2 ( equity)12.3 ( interest)12.2 ( in)12.2 ( Perpetual)12.2 ( at)12.2 ( a)12.2 ( consideration)12.2 ( of)45.1 ( )]TJ 0.025 Tc 0.083 Tw 0 -1.4 Td [(R)-1.4 (M)-1.3 (B30,000,000 )0.5 (\()-1.4 (t)-1.4 (h)-1.4 (e )0.5 (\223)]TJ /T1_1 1 Tf 0.026 Tc -0.026 Tw 9.895 0 Td (Disposal)Tj /T1_0 1 Tf 0.082 Tw [(\224\).)1 ( )0.5 (The)1.1 ( )0.5 (directors)1 ( )0.5 (of)1 ( )0.5 (the)1 ( )0.5 (Company)1 ( )0.5 (are)1 ( )0.5 (of)1 ( )0.5 (the)1.1 ( )0.5 (opinion)1 ( )0.5 (that)1 ( )0.5 (if)1 ( )0.5 (the)1 ( )0.5 (disposal)1 ( )0.5 (is)1 ( )]TJ 0.025 Tc 0.056 Tw -9.895 -1.4 Td [(completed, )0.5 (the )0.6 (disposal )0.5 (of )0.5 (100% )0.6 (Perpetual )0.5 (will )0.5 (result )0.6 (in )0.5 (loss )0.5 (of )0.6 (the )0.5 (Group\222s )0.5 (control )0.6 (over )0.5 (Perpetual )0.6 (and )0.5 (its )]TJ 0.047 Tc 0.07 Tw 0 -1.4 Td [(subsidiaries)12.1 ( \(collectively)12.1 ( referred)12.1 ( to)12.1 ( as)12.1 ( the)12.1 ( \223)]TJ /T1_1 1 Tf [(Disposal)12.1 ( Group)]TJ /T1_0 1 Tf [(\224\),)12.1 ( and)12.1 ( any)12.1 ( gain)12.1 ( or)12.1 ( loss)12.1 ( arising)12.1 ( from)12.1 ( the)22.1 ( )]TJ 0.025 Tc 0 Tw 0 -1.4 Td (disposal will be directly recognised in equity.)Tj 0.056 Tc 0.07 Tw 0 -2.8 Td [(As)12.3 ( disclosed)12.3 ( in)12.3 ( the)12.3 ( Company\222s)12.3 ( announcement)12.3 ( dated)12.3 ( 1)12.3 (1)12.3 ( July)12.3 ( 2)12.3 (0)12.3 (2)12.3 (5)12.3 ( \(\223)]TJ /T1_1 1 Tf [(Disposal)12.3 ( Date)]TJ /T1_0 1 Tf [(\224\),)12.3 ( all)12.3 ( conditions)31 ( )]TJ 0.027 Tc 0.081 Tw 0 -1.4 Td [(precedent)2 ( )0.5 (of)2 ( )0.5 (the)2 ( )0.5 (sale)2 ( )0.5 (and)2 ( )0.5 (purchase)2 ( )0.5 (agreements)2 ( )0.5 (and)2 ( )0.5 (the)2 ( )0.5 (corporate)2 ( )0.5 (guarantee)2 ( )0.5 (agreement)2 ( )0.5 (have)2 ( )0.5 (been)2 ( )0.5 (fulfilled)2 ( )]TJ 0.049 Tc 0.07 Tw 0 -1.4 Td [(and)12.4 ( the)12.4 ( very)12.4 ( substantial)12.4 ( disposal)12.4 ( transaction)12.3 ( \(\223)]TJ /T1_1 1 Tf -0.049 Tw (VSD)Tj /T1_0 1 Tf 0.07 Tw [(\224\))12.4 ( was)12.4 ( completed)12.4 ( on)12.3 ( 1)12.4 (1)12.3 ( July)12.4 ( 2)12.4 (0)12.3 (2)12.4 (5)12.4 (.)12.3 ( Following)12.3 ( the)24.1 ( )]TJ 0.025 Tc 0.052 Tw 0 -1.4 Td (completion of the VSD, the Group no longer holds any interest in the Dis\posal Group. Since the operation )Tj 0.024 Tc 0 Tw 0 -1.4 Td [(of the Disposal Group represents a separate major geographical area of o\perations, i.e. sales and distribution)-1 ( )]TJ 0.05 Tc 0.07 Tw 0 -1.4 Td [(of)12.3 ( coal)12.4 ( in)12.3 ( PRC,)12.3 ( it)12.3 ( is)12.3 ( therefore)12.3 ( reclassified)12.3 ( to)12.3 ( discontinued)12.3 ( operation)12.3 ( in)12.3 ( the)12.4 ( consolidated)12.3 ( statement)12.3 ( of)25 ( )]TJ 0.025 Tc 0 Tw 0 -1.4 Td (comprehensive income. Comparative figures have been re-presented to conf\orm with the presentation where )Tj 0.026 Tc 0.082 Tw 0 -1.4 Td [(a)0.5 (p)0.6 (p)0.5 (l)0.5 (i)0.5 (c)0.5 (a)0.6 (b)0.5 (l)0.5 (e)0.5 (.)1 ( )0.5 (F)0.6 (i)0.5 (n)0.5 (a)0.5 (n)0.6 (c)0.5 (i)0.5 (a)0.5 (l)1 ( )0.5 (i)0.6 (n)0.5 (f)0.5 (o)0.5 (r)0.6 (m)0.5 (a)0.5 (t)0.5 (i)0.5 (o)0.6 (n)0.9 ( )0.6 (r)0.5 (e)0.5 (l)0.5 (a)0.6 (t)0.5 (i)0.5 (n)0.5 (g)1 ( )0.5 (t)0.6 (o)0.9 ( )0.6 (t)0.5 (h)0.5 (e)1 ( )0.5 (d)0.5 (i)0.5 (s)0.6 (c)0.5 (o)0.5 (n)0.5 (t)0.6 (i)0.5 (n)0.5 (u)0.5 (e)0.5 (d)1 ( )0.6 (o)0.5 (p)0.5 (e)0.5 (r)0.5 (a)0.6 (t)0.5 (i)0.5 (o)0.5 (n)0.6 (s)1 ( )0.5 (f)0.5 (o)0.5 (r)1 ( )0.5 (t)0.5 (h)0.5 (e)1.1 ( )0.5 (p)0.5 (e)0.5 (r)0.5 (i)0.6 (o)0.5 (d)1 ( )0.5 (u)0.5 (p)1 ( )0.5 (t)0.5 (o)1 ( )0.5 (t)0.5 (h)0.6 (e)1 ( )0.5 (D)0.5 (i)0.5 (s)0.6 (p)0.5 (o)0.5 (s)0.5 (a)0.6 (l)0.9 ( )]TJ 0.025 Tc 0 Tw 0 -1.4 Td (Date is set out below.)Tj ET endstreamendobj35 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 793.701]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj36 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 793.701]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj37 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 793.701]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj38 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 793.701]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj39 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 793.701]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj107 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 25 \226)Tj /T1_1 1 Tf 0.061 Tc 0.07 Tw 10 0 0 10 79.3701 728.7079 Tm [(Other)12.4 ( acquisition)12.4 ( of)12.4 ( subsidiaries)12.5 ( which)12.4 ( are)12.4 ( the)12.5 ( minority)12.4 ( shareholders)12.5 ( of)12.4 ( the)12.4 ( Group\222s)12.5 ( existing)36 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.3 Td (subsidiaries)Tj 18.955 -2.6 Td (Acquisition)Tj 0 Tw 1.932 -1.3 Td (of TMI)Tj /T1_2 1 Tf -0.655 -1.3 Td (\(note \(i\)\))Tj /T1_1 1 Tf -0.025 Tw 5.81 2.6 Td (Acquisition)Tj 0 Tw 2.043 -1.3 Td (of IKN)Tj /T1_2 1 Tf -1.069 -1.3 Td (\(note \(ii\)\))Tj /T1_1 1 Tf -0.025 Tw 6.113 2.6 Td (Acquisition)Tj 0 Tw 2.043 -1.3 Td (of VIK)Tj /T1_2 1 Tf -1.372 -1.3 Td (\(note \(iii\)\))Tj /T1_1 1 Tf -0.025 Tw 9.481 1.3 Td (2025)Tj -0.303 -1.3 Td (Total)Tj /T1_3 1 Tf -22.92 -1.3 Td (RMB\222000)Tj 7.087 0 Td (RMB\222000)Tj 7.087 0 Td (RMB\222000)Tj 7.087 0 Td (RMB\222000)Tj /T1_1 1 Tf 0 Tw -41.316 -2.6 Td (Cash consideration)Tj /T1_0 1 Tf -0.025 Tw 21.219 0 Td (17,967)Tj 7.087 0 Td (16,421)Tj 7.087 0 Td (13,976)Tj 7.087 0 Td (48,364)Tj /T1_1 1 Tf 0 Tw -42.479 -2.6 Td (Assets acquired and liabilities )Tj 0 Tc ( )Tj 0.025 Tc 1.001 -1.3 Td (assumed upon acquisition)Tj /T1_0 1 Tf -1.001 -1.3 Td (Investment in the Group\222s existing )Tj -0.025 Tw 1.001 -1.3 Td (subsidiaries)Tj 20.744 0 Td (1,336)Tj 7.087 0 Td (2,553)Tj 7.087 0 Td (1,276)Tj 7.087 0 Td (5,165)Tj 0 Tw -43.004 -1.3 Td (Cash and cash equivalents)Tj -0.025 Tw 22.544 0 Td (372)Tj 7.612 0 Td (25)Tj 7.087 0 Td (25)Tj 6.562 0 Td (422)Tj 0 Tw -43.804 -1.3 Td (Other payables)Tj 0 Tc 23.594 0 Td (\226)Tj 0.025 Tc -0.025 Tw 6.179 0 Td (\(39\))Tj 7.087 0 Td (\(39\))Tj 7.087 0 Td (\(78\))Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 260.7874 529.2489 cm 0 0 m 59.528 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 255.1181 529.0159 Tm ( )Tj ET q 1 0 0 1 331.6536 529.2489 cm 0 0 m 59.528 0 l S Q BT 0.1 0 0 0.1 325.9843 529.0159 Tm ( )Tj ET q 1 0 0 1 402.5197 529.2489 cm 0 0 m 59.528 0 l S Q BT 0.1 0 0 0.1 396.8504 529.0159 Tm ( )Tj ET q 1 0 0 1 473.3859 529.2489 cm 0 0 m 59.528 0 l S Q BT 0.1 0 0 0.1 467.7166 529.0159 Tm ( )Tj 0.025 Tc 10 0 0 10 79.3701 504.6989 Tm (Total net identifiable assets acquired)Tj -0.025 Tw 21.744 0 Td (1,708)Tj 7.087 0 Td (2,539)Tj 7.087 0 Td (1,262)Tj 7.087 0 Td (5,509)Tj ET 1.11 w q 1 0 0 1 260.7875 500.048 cm 0 0 m 59.528 0 l S Q 0.45 w q 1 0 0 1 260.7875 497.948 cm 0 0 m 59.528 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 255.1182 497.62 Tm ( )Tj ET 1.11 w q 1 0 0 1 331.6536 500.048 cm 0 0 m 59.528 0 l S Q 0.45 w q 1 0 0 1 331.6536 497.948 cm 0 0 m 59.528 0 l S Q BT 0.1 0 0 0.1 325.9843 497.62 Tm ( )Tj ET 1.11 w q 1 0 0 1 402.5197 500.048 cm 0 0 m 59.528 0 l S Q 0.45 w q 1 0 0 1 402.5197 497.948 cm 0 0 m 59.528 0 l S Q BT 0.1 0 0 0.1 396.8505 497.62 Tm ( )Tj ET 1.11 w q 1 0 0 1 473.3859 500.048 cm 0 0 m 59.528 0 l S Q 0.45 w q 1 0 0 1 473.3859 497.948 cm 0 0 m 59.528 0 l S Q BT 0.1 0 0 0.1 467.7166 497.62 Tm ( )Tj 0.025 Tc 10 0 0 10 79.3701 473.303 Tm (Net cash outflow from the acquisition)Tj -0.025 Tw 21.219 0 Td (17,595)Tj 7.087 0 Td (16,396)Tj 7.087 0 Td (13,951)Tj 7.087 0 Td (47,942)Tj ET 1.11 w q 1 0 0 1 260.7875 468.6522 cm 0 0 m 59.528 0 l S Q 0.45 w q 1 0 0 1 260.7875 466.5522 cm 0 0 m 59.528 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 255.1182 466.2242 Tm ( )Tj ET 1.11 w q 1 0 0 1 331.6536 468.6522 cm 0 0 m 59.528 0 l S Q 0.45 w q 1 0 0 1 331.6536 466.5522 cm 0 0 m 59.528 0 l S Q BT 0.1 0 0 0.1 325.9843 466.2242 Tm ( )Tj ET 1.11 w q 1 0 0 1 402.5197 468.6522 cm 0 0 m 59.528 0 l S Q 0.45 w q 1 0 0 1 402.5197 466.5522 cm 0 0 m 59.528 0 l S Q BT 0.1 0 0 0.1 396.8505 466.2242 Tm ( )Tj ET 1.11 w q 1 0 0 1 473.3859 468.6522 cm 0 0 m 59.528 0 l S Q 0.45 w q 1 0 0 1 473.3859 466.5522 cm 0 0 m 59.528 0 l S Q BT 0.1 0 0 0.1 467.7166 466.2242 Tm ( )Tj /T1_3 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 79.3702 443.6072 Tm (Notes:)Tj /T1_0 1 Tf 0.055 Tw 0 -2.6 Td (\(i\))Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (For the year ended 31 December 2025, sale and purchase agreements were e\ntered into by the Group )Tj 0.058 Tc 0.07 Tw 0 -1.3 Td [(for)12 ( acquisition)12 ( of)12.1 ( 1)12 (0)12.1 (0)12.1 (%)12.1 ( equity)12.1 ( shareholding)12.1 ( of)12.1 ( PT.)12 ( Trisula)12.1 ( Makmur)12.1 ( Investama)12.1 ( \(the)12.1 ( \223)]TJ /T1_1 1 Tf -0.058 Tw (TMI)Tj /T1_0 1 Tf 0.07 Tw [(\224\),)12 ( a)33 ( )]TJ 0.025 Tc 0.025 Tw 0 -1.3 Td (company duly established under the laws of Indonesia that owns 30% equit\y interest in the TSE, from )Tj 0.007 Tw 0 -1.3 Td (independent third parties in August 2025. Following the completion of th\e transaction in August 2025, )Tj 0 Tw 0 -1.3 Td (the Group owned 100% equity interest in TSE.)Tj 0.055 Tw -2.268 -2.6 Td (\(ii\))Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (For the year ended 31 December 2025, sale and purchase agreements were e\ntered into by the Group )Tj 0.009 Tw 0 -1.3 Td (for acquisition of 100% equity shareholding of PT. Inisiasi Kapital Nusa\ntara \(the \223)Tj /T1_1 1 Tf -0.025 Tw (IKN)Tj /T1_0 1 Tf 0.009 Tw (\224\), a company )Tj 0.029 Tw 0 -1.3 Td [(duly established under the laws )0.5 (of Indonesia that owns 30% equity interest in the IMJ )0.5 (and SME, from )]TJ 0.016 Tw 0 -1.3 Td (independent third parties in December 2025. Following the completion of \the transaction in December )Tj 0 Tw 0 -1.3 Td (2025, the Group owned 100% equity interest in IMJ and SME.)Tj 0.055 Tw -2.268 -2.6 Td (\(iii\))Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (For the year ended 31 December 2025, sale and purchase agreements were e\ntered into by the Group )Tj 0.056 Tc 0.07 Tw 0 -1.3 Td [(for)12.6 ( acquisition)12.6 ( of)12.6 ( 1)12.6 (0)12.6 (0)12.5 (%)12.6 ( equity)12.6 ( shareholding)12.6 ( of)12.6 ( PT.)12.6 ( Venerasi)12.6 ( Investama)12.6 ( Kapital)12.6 ( \(the)12.5 ( \223)]TJ /T1_1 1 Tf -0.056 Tw (VIK)Tj /T1_0 1 Tf 0.07 Tw [(\224\),)12.5 ( a)31 ( )]TJ 0.025 Tc 0.018 Tw -0 -1.3 Td (company duly established under the laws of Indonesia that owns 30% equit\y interest in the VSE, from )Tj 0.016 Tw 0 -1.3 Td (independent third parties in December 2025. Following the completion of \the transaction in December )Tj 0 Tw 0 -1.3 Td (2025, the Group owned 100% equity interest in VSE.)Tj 0.04 Tc 0.07 Tw -2.268 -2.6 Td [(The)12.9 ( pr)0.5 (imary)12.9 ( reas)0.5 (on)12.9 ( for)12.9 ( the)12.9 ( )0.5 (acquisition)12.9 ( w)0.5 (as)12.9 ( for)12.9 ( a)0.5 (cquisition)12.9 ( of)12.9 ( re)0.5 (maining)12.9 ( equity)12.9 ( )0.5 (interests)12.9 ( o)0.5 (f)12.9 ( the)12.9 ( Grou)0.5 (p\222)0.5 (s)15 ( )]TJ 0.025 Tc 0.047 Tw 0 -1.3 Td (existing subsidiaries, namely TSE, IMJ, SME and VSE. The directors of th\e Company were of the opinion )Tj 0.026 Tc 0.082 Tw 0 -1.3 Td [(t)0.5 (h)0.5 (a)0.5 (t)1 ( )0.6 (i)0.5 (n)0.5 (p)0.5 (u)0.5 (t)0.5 (s)1 ( )0.5 (a)0.5 (c)0.6 (q)0.5 (u)0.5 (i)0.5 (r)0.5 (e)0.5 (d)1.1 ( f)0.6 (r)0.5 (o)0.5 (m)1 ( )0.5 (t)0.5 (h)0.5 (e)1.1 ( )0.5 (a)0.5 (c)0.5 (q)0.5 (u)0.5 (i)0.5 (s)0.6 (i)0.5 (t)0.5 (i)0.5 (o)0.5 (n)1 ( )0.5 (o)0.5 (f)1 ( )0.5 (a)0.6 (f)0.5 (o)0.5 (r)0.5 (e)0.5 (s)0.5 (a)0.6 (i)0.5 (d)1 ( )0.5 (s)0.5 (u)0.5 (b)0.5 (s)0.5 (i)0.6 (d)0.5 (i)0.5 (a)0.5 (r)0.5 (i)0.5 (e)0.6 (s)1 ( )0.5 (d)0.5 (i)0.5 (d)1 ( )0.5 (n)0.5 (o)0.5 (t)1 ( )0.5 (i)0.5 (n)0.5 (c)0.6 (l)0.5 (u)0.5 (d)0.5 (e)1 ( )0.5 (a)0.6 (n)1 ( )0.5 (o)0.5 (r)0.5 (g)0.5 (a)0.5 (n)0.5 (i)0.5 (s)0.6 (e)0.5 (d)1 ( )0.5 (w)0.5 (o)0.5 (r)0.5 (k)0.6 (f)0.5 (o)0.5 (r)0.5 (c)0.5 (e)1 ( )]TJ 0.055 Tc 0.07 Tw 0 -1.3 Td [(th)0.5 (at)12.9 ( h)0.5 (as)12.9 ( )0.5 (the)13 ( ne)0.5 (ces)0.5 (sar)0.5 (y)12.9 ( s)0.5 (kill)0.5 (s,)12.9 ( )0.5 (know)0.5 (ledg)0.5 (e)12.9 ( a)0.5 (nd)12.9 ( )0.5 (exp)0.5 (eri)0.5 (enc)0.5 (e)12.9 ( to)13 ( c)0.5 (arry)13 ( ou)0.5 (t)12.9 ( th)0.5 (e)12.9 ( k)0.5 (ey)12.9 ( )0.5 (oper)0.5 (ati)0.5 (ons)12.9 ( )0.5 (of)12.9 ( )0.5 (afo)0.5 (res)0.5 (aid)30 ( )]TJ 0.033 Tc 0.075 Tw 0 -1.3 Td [(subsidiaries)8 ( )0.5 (and)8 ( )0.5 (other)8 ( )0.5 (necessary)8 ( )0.5 (inputs,)8.1 ( )0.5 (and)8 ( )0.5 (the)8 ( )0.5 (acquisition)8 ( )0.5 (of)8 ( )0.5 (aforesaid)8 ( )0.5 (subsidiaries)8.1 ( )0.5 (did)8 ( )0.5 (not)8 ( )0.5 (constitute)8 ( )0.5 (a)8 ( )]TJ 0.066 Tc 0.07 Tw 0 -1.3 Td [(business)12.3 ( combination)12.3 ( as)12.4 ( defined)12.3 ( in)12.4 ( IFRS)12.3 ( 3)12.3 ( \(Revised\))12.4 ( \223Business)12.4 ( Combinations\224,)12.4 ( and)12.4 ( therefore)12.3 ( the)41 ( )]TJ 0.044 Tc 0 -1.3 Td [(acquisition)12.1 ( of)12 ( TMI,)12.1 ( IKN)12 ( and)12 ( VIK)12.1 ( was)12.1 ( accounted)12 ( for)12.1 ( as)12.1 ( asset)12.1 ( acquisition)12 ( and)12 ( acquisition)12.1 ( of)12.1 ( additional)19 ( )]TJ 0.025 Tc 0 Tw 0 -1.3 Td (interests of the Group\222s existing subsidiaries.)Tj ET endstreamendobj106 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 24 \226)Tj /T1_1 1 Tf 10 0 0 10 79.3701 728.7079 Tm (Acquisition of Treasure Bay Management Limited \(\223TBM\224\))Tj /T1_0 1 Tf 0.037 Tc 0.071 Tw 0 -2.8 Td [(On)12 ( )0.5 (1)12 ( )0.5 (April)12 ( )0.5 (2)12 (0)12 (2)12 (5)12 (,)12 ( )0.5 (another)12 ( )0.5 (sale)12 ( )0.5 (and)12 ( )0.5 (purchase)12 ( )0.5 (agreement)12 ( )0.5 (was)12 ( )0.5 (entered)12 ( )0.5 (into)12 ( )0.5 (by)12 ( )0.5 (the)12 ( )0.6 (Group)12 ( )0.5 (for)12 ( )0.5 (acquisition)12 ( )0.5 (of)12 ( )]TJ 0.025 Tc 0.02 Tw 0 -1.4 Td (100% equity shareholding of TBM, a company duly established under the la\ws of British Virgin Island that )Tj 0.036 Tc 0.072 Tw 0 -1.4 Td [(owns)11 ( )0.5 (7)11 (0)11 (%)11 ( )0.5 (equity)11 ( )0.5 (interest)11 ( )0.5 (in)11 ( )0.5 (PT.)11 ( )0.5 (Trisula)11 ( )0.5 (Sumber)11 ( )0.5 (Energi)11 ( )0.5 (\(the)11 ( )0.5 (\223)]TJ /T1_1 1 Tf -0.036 Tw (TSE)Tj /T1_0 1 Tf 0.072 Tw [(\224\))11 ( )0.5 (that)11 ( )0.5 (is)11 ( )0.5 (engaged)11 ( )0.5 (in)11 ( )0.5 (coal)11 ( )0.5 (mining)11 ( )0.5 (and)11 ( )]TJ 0.034 Tc 0.074 Tw 0 -1.4 Td [(trading)9 ( )0.5 (in)9 ( )0.5 (Indonesia,)9.1 ( )0.5 (from)9 ( )0.5 (an)9 ( )0.5 (independent)9 ( )0.5 (third)9 ( )0.6 (party)9 ( )0.5 (at)9 ( )0.5 (a)9 ( )0.5 (consideration)9 ( )0.5 (of)9 ( )0.5 (USD)9 (7)9 (,)9 (9)9 (0)9 (0)9 (,)9 (0)9 (0)9 (0)9 ( )0.5 (\(equivalent)8.9 ( )0.6 (to)9 ( )]TJ 0.025 Tc 0 Tw 0 -1.4 Td (approximately RMB56,708,000\).)Tj 0.024 Tc 0 -2.8 Td [(The primary reason for the acquisition was for the expansion of the Grou\p\222s business and to increase returns)-1 ( )]TJ 0.025 Tc 0 -1.4 Td (to its shareholders.)Tj 0.015 Tw 0 -2.8 Td (The directors of the Company were of the opinion that inputs acquired fr\om the acquisition of TBM did not )Tj 0.035 Tc 0.073 Tw 0 -1.4 Td [(include)10 ( )0.5 (an)10 ( )0.5 (organised)10 ( )0.5 (workforce)10 ( )0.5 (that)10 ( )0.6 (has)10 ( )0.5 (the)10 ( )0.5 (necessary)10 ( )0.5 (skills,)10.1 ( )0.5 (knowledge)10 ( )0.5 (and)10 ( )0.5 (experience)10 ( )0.6 (to)10 ( )0.5 (perform)10 ( )0.5 (coal)10 ( )]TJ 0.03 Tc 0.078 Tw 0 -1.4 Td [(production)5 ( )0.5 (of)5 ( )0.5 (TBM)5 ( )0.5 (and)5 ( )0.5 (other)5 ( )0.5 (necessary)5 ( )0.5 (inputs,)5 ( )0.5 (and)5 ( )0.5 (the)5 ( )0.5 (acquisition)4.9 ( )0.5 (of)5 ( )0.5 (TBM)5 ( )0.5 (did)5 ( )0.5 (not)5 ( )0.5 (constitute)5 ( )0.5 (a)5 ( )0.5 (business)5 ( )]TJ 0.031 Tc 0.077 Tw 0 -1.4 Td [(combination)6 ( )0.5 (as)6 ( )0.5 (defined)6 ( )0.5 (in)6 ( )0.5 (IFRS)6 ( )0.5 (3)6 ( )0.5 (\(Revised\))6 ( )0.5 (\223Business)6 ( )0.5 (Combinations\224,)6 ( )0.5 (and)6 ( )0.5 (therefore)6 ( )0.5 (the)6 ( )0.5 (acquisition)6 ( )0.5 (was)6 ( )]TJ 0.025 Tc 0.046 Tw 0 -1.4 Td (accounted for as asset acquisition. Assets acquired and liabilities assu\med upon acquisition date of 1 April )Tj 0 Tw 0 -1.4 Td (2025 are as follows:)Tj /T1_2 1 Tf -0.025 Tw 41.883 -2.8 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -41.883 -2.8 Td (Coal mining right)Tj -0.025 Tw 43.046 0 Td (51,695)Tj 0 Tw -43.046 -1.4 Td (Property, plant and equipment)Tj -0.025 Tw 43.571 0 Td (4,128)Tj 0 Tw -43.571 -1.4 Td (Other receivables)Tj -0.025 Tw 43.571 0 Td (4,248)Tj 0 Tw -43.571 -1.4 Td (Cash and cash equivalents)Tj -0.025 Tw 44.371 0 Td (432)Tj 0 Tw -44.371 -1.4 Td (Other payables)Tj -0.025 Tw 43.188 0 Td (\(2,481\))Tj 0 Tw -43.188 -1.4 Td (Non-controlling interest)Tj -0.025 Tw 43.188 0 Td (\(1,314\))Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 464.8818 374.2489 cm 0 0 m 73.701 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 459.2126 374.0159 Tm ( )Tj 0.025 Tc 10 0 0 10 79.37 347.6989 Tm (Net assets attributable to owners of TBM)Tj -0.025 Tw 43.046 0 Td (56,708)Tj ET 1.11 w q 1 0 0 1 464.8818 343.048 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 340.948 cm 0 0 m 73.701 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 459.2126 340.62 Tm ( )Tj 0.025 Tc 10 0 0 10 79.3701 316.003 Tm (The net cash outflow arising on the acquisition is as follows:)Tj /T1_2 1 Tf -0.025 Tw 41.883 -2.8 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -41.883 -2.8 Td (Cash consideration paid)Tj -0.025 Tw 43.046 0 Td (56,708)Tj 0 Tw -43.046 -1.4 Td (Less: cash and cash equivalents acquired)Tj -0.025 Tw 43.988 0 Td (\(432\))Tj ET 0.5 w q 1 0 0 1 464.8818 241.544 cm 0 0 m 73.701 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 459.2125 241.311 Tm ( )Tj 0.025 Tc 10 0 0 10 79.37 214.994 Tm (Net cash outflow from the acquisition)Tj -0.025 Tw 43.046 0 Td (56,276)Tj ET 1.11 w q 1 0 0 1 464.8818 210.3432 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 208.2432 cm 0 0 m 73.701 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 459.2125 207.9152 Tm ( )Tj ET endstreamendobj105 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 23 \226)Tj /T1_1 1 Tf 10 0 0 10 56.6929 728.7079 Tm (15.)Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (ACQUISITION OF SUBSIDIARIES)Tj 0 -2.8 Td (Acquisition of PT. Widyanusa Mandiri \(\223WM\224\))Tj /T1_0 1 Tf 0.047 Tc 0.07 Tw 0 -2.8 Td [(A)0.5 (s)13.1 ( )0.5 (d)0.5 (i)0.5 (s)0.5 (c)0.6 (l)0.5 (o)0.5 (s)0.5 (e)0.6 (d)13 ( )0.5 (i)0.5 (n)13 ( )0.6 (t)0.5 (h)0.5 (e)13 ( )0.5 (C)0.6 (o)0.5 (m)0.5 (p)0.5 (a)0.6 (n)0.5 (y)0.5 (\222)0.5 (s)13 ( )0.6 (a)0.5 (n)0.5 (n)0.5 (o)0.6 (u)0.5 (n)0.5 (c)0.5 (e)0.6 (m)0.5 (e)0.5 (n)0.5 (t)0.5 (s)13.1 ( )0.5 (d)0.5 (a)0.5 (t)0.6 (e)0.5 (d)13 ( )0.5 (2)13 (8)13.1 ( )0.5 (M)0.5 (a)0.5 (r)0.6 (c)0.5 (h)13 ( )0.5 (2)13 (0)13.1 (2)13 (5)13 ( )0.5 (a)0.6 (n)0.5 (d)13 ( )0.5 (1)13 (7)13 ( )0.6 (A)0.5 (p)0.5 (r)0.5 (i)0.6 (l)13 ( )0.5 (2)13 (0)13 (2)13.1 (5)13 (,)13 ( )0.5 (t)0.5 (w)0.6 (o)13 ( )0.5 (s)0.5 (a)0.6 (l)0.5 (e)13 ( )0.5 (a)0.6 (n)0.5 (d)22 ( )]TJ 0.025 Tc 0.019 Tw 0 -1.4 Td (purchase agreements were entered into by the Group for acquisition of 10\0% equity shareholding of WM, a )Tj 0 Tw 0 -1.4 Td (company duly established under the laws of Republic of Indonesia that ow\ns entitlement right to 15% of the )Tj 0.039 Tc 0.07 Tw 0 -1.4 Td [(total)12.6 ( saleable)12.7 ( coal)12.7 ( production)12.7 ( of)12.6 ( SDE)12.6 ( Coal)12.7 ( Mine,)12.6 ( from)12.7 ( an)12.6 ( independent)12.6 ( third)12.7 ( party)12.7 ( at)12.6 ( a)12.6 ( consideration)12.6 ( of)14 ( )]TJ 0.025 Tc 0 Tw 0 -1.4 Td (IDR140,260,000,000 \(equivalent to approximately RMB61,273,000\).)Tj 0.028 Tc 0.08 Tw 0 -2.8 Td [(The)3 ( )0.5 (primary)3 ( )0.5 (reason)3 ( )0.5 (for)3 ( )0.5 (the)3 ( )0.5 (acquisition)3 ( )0.5 (was)3 ( )0.5 (the)3 ( )0.5 (right)3 ( )0.5 (to)3 ( )0.5 (1)3 (5)3 (%)3.1 ( of)3 ( )0.6 (the)3.1 ( )0.5 (total)3 ( )0.5 (saleable)3 ( )0.5 (coal)3 ( )0.5 (production)3 ( )0.5 (of)3.1 ( SDE)3 ( )]TJ 0.025 Tc 0.017 Tw 0 -1.4 Td (Coal Mine as it would be a strategic asset in the Group\222s portfolio. \The directors of the Company are of the )Tj 0.046 Tw 0 -1.4 Td (opinion that this would allow the Group to be entitled to additional coa\l reserves from the SDE Coal Mine )Tj 0.064 Tw 0 -1.4 Td (as the expected future economic benefits directly attributable to the ri\ght to 15% of the total saleable coal )Tj 0.019 Tw 0 -1.4 Td (production of SDE Coal Mine would probably flow to the Group, which will\ in turn strengthen the Group\222s )Tj 0.057 Tc 0.07 Tw 0 -1.4 Td [(market)12.2 ( position)12.2 ( in)12.2 ( the)12.1 ( coal)12.2 ( mining)12.2 ( business)12.1 ( sector)12.2 ( and)12.1 ( further)12.1 ( enhance)12.1 ( the)12.2 ( profitability)12.1 ( and)12.2 ( overall)32 ( )]TJ 0.025 Tc 0 Tw 0 -1.4 Td (performance of the Group.)Tj 0.035 Tw 0 -2.8 Td (The directors of the Company were of the opinion that inputs acquired fr\om the acquisition of WM did not )Tj 0.009 Tw 0 -1.4 Td (include an organised workforce that has the necessary skills, knowledge \and experience to carry out the key )Tj 0.041 Tc 0.07 Tw 0 -1.4 Td [(operations)12.2 ( of)12.2 ( WM)12.2 ( and)12.2 ( other)12.2 ( necessary)12.2 ( inputs,)12.1 ( and)12.2 ( the)12.2 ( acquisition)12.1 ( of)12.2 ( WM)12.2 ( did)12.2 ( not)12.2 ( constitute)12.2 ( a)12.2 ( business)16 ( )]TJ 0.031 Tc 0.077 Tw 0 -1.4 Td [(combination)6 ( )0.5 (as)6 ( )0.5 (defined)6 ( )0.5 (in)6 ( )0.5 (IFRS)6 ( )0.5 (3)6 ( )0.5 (\(Revised\))6 ( )0.5 (\223Business)6 ( )0.5 (Combinations\224,)6 ( )0.5 (and)6 ( )0.5 (therefore)6 ( )0.5 (the)6 ( )0.5 (acquisition)6 ( )0.5 (was)6 ( )]TJ 0.025 Tc 0.012 Tw 0 -1.4 Td [(accounted )0.5 (for )0.6 (as )0.5 (asset )0.6 (acquisition. )0.5 (Assets )0.5 (acquired )0.6 (and )0.5 (liabilities )0.5 (assumed )0.6 (upon )0.6 (acquisition )0.5 (date )0.5 (of )0.6 (17 )0.6 (April )]TJ 0 Tw 0 -1.4 Td (2025 are as follows:)Tj /T1_2 1 Tf -0.025 Tw 41.883 -2.8 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -41.883 -2.8 Td (Coal mining right)Tj -0.025 Tw 42.521 0 Td (938,102)Tj -42.521 -1.4 Td (Inventory)Tj 43.571 0 Td (7,349)Tj 0 Tw -43.571 -1.4 Td (Other receivables)Tj -0.025 Tw 44.371 0 Td (870)Tj 0 Tw -44.371 -1.4 Td (Cash and cash equivalents)Tj -0.025 Tw 44.371 0 Td (253)Tj 0 Tw -44.371 -1.4 Td (Other payables)Tj -0.025 Tw 42.138 0 Td (\(885,301\))Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 464.8818 290.2489 cm 0 0 m 73.701 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 459.2126 290.0159 Tm ( )Tj 0.025 Tc 10 0 0 10 79.37 263.6989 Tm (Net assets)Tj -0.025 Tw 43.046 0 Td (61,273)Tj ET 1.11 w q 1 0 0 1 464.8818 259.048 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 256.948 cm 0 0 m 73.701 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 459.2126 256.62 Tm ( )Tj 0.025 Tc 10 0 0 10 79.3701 232.003 Tm (The net cash outflow arising on the acquisition is as follows:)Tj /T1_2 1 Tf -0.025 Tw 41.883 -2.8 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -41.883 -2.8 Td (Cash consideration paid)Tj -0.025 Tw 43.046 0 Td (61,273)Tj 0 Tw -43.046 -1.4 Td (Less: cash and cash equivalents acquired)Tj -0.025 Tw 43.988 0 Td (\(253\))Tj ET 0.5 w q 1 0 0 1 464.8818 157.544 cm 0 0 m 73.701 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 459.2125 157.311 Tm ( )Tj 0.025 Tc 10 0 0 10 79.37 130.994 Tm (Net cash outflow from the acquisition)Tj -0.025 Tw 43.046 0 Td (61,020)Tj ET 1.11 w q 1 0 0 1 464.8818 126.3432 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 124.2432 cm 0 0 m 73.701 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 459.2125 123.9152 Tm ( )Tj ET endstreamendobj104 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 22 \226)Tj /T1_1 1 Tf 0.668 Tw 10 0 0 10 56.6929 728.7079 Tm (14.)Tj /Span<>> BDC ( )Tj EMC (BORROWINGS)Tj -0.025 Tw 37.61 -2.8 Td (2025)Tj /T1_0 1 Tf 8.504 0 Td (2024)Tj /T1_2 1 Tf -17.681 -1.4 Td (Notes)Tj /T1_3 1 Tf 7.046 0 Td (RMB\222000)Tj /T1_2 1 Tf 8.672 0 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -41.883 -2.8 Td (Bank loans)Tj 1.001 -1.4 Td (\227 Secured)Tj /T1_2 1 Tf -0.025 Tw 25.857 0 Td (\(i\))Tj /T1_1 1 Tf 7.16 0 Td (544,149)Tj /T1_0 1 Tf 8.504 0 Td (519,330)Tj 0 Tw -41.521 -1.4 Td (\227 Unsecured)Tj /T1_2 1 Tf -0.025 Tw 25.705 0 Td (\(ii\))Tj /T1_1 1 Tf 7.836 0 Td (47,500)Tj /T1_0 1 Tf 7.979 0 Td (469,500)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 379.8425 626.2489 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 626.0159 Tm ( )Tj ET q 1 0 0 1 464.8819 626.2489 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 626.0159 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 419.5433 599.6989 Tm (591,649)Tj /T1_0 1 Tf 8.504 0 Td (988,830)Tj ET q 1 0 0 1 379.8425 595.2398 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 595.0068 Tm ( )Tj ET q 1 0 0 1 464.8819 595.2398 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 595.0068 Tm ( )Tj 0.025 Tc 10 0 0 10 79.37 568.6898 Tm (Other borrowings)Tj /T1_2 1 Tf -0.025 Tw 26.554 0 Td (\(iii\))Tj /T1_0 1 Tf 0 Tw -25.554 -1.4 Td (\227 Secured Loan I)Tj /T1_1 1 Tf 0 Tc 35.917 0 Td (\226)Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 5.604 0 Td (152,627)Tj 0 Tw -41.521 -1.4 Td (\227 Unsecured Loan II)Tj /T1_1 1 Tf -0.025 Tw 33.017 0 Td (412,145)Tj /T1_0 1 Tf 0 Tc 0 Tw 11.404 0 Td (\226)Tj 0.025 Tc -44.421 -1.4 Td (\227 Unsecured other loans)Tj /T1_1 1 Tf -0.025 Tw 33.017 0 Td (853,297)Tj /T1_0 1 Tf 9.029 0 Td (43,033)Tj ET q 1 0 0 1 379.8425 522.2308 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 521.9979 Tm ( )Tj ET q 1 0 0 1 464.8819 522.2308 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 521.9979 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 411.5433 495.6808 Tm (1,265,442)Tj /T1_0 1 Tf 9.304 0 Td (195,660)Tj ET q 1 0 0 1 379.8425 491.2218 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 490.9888 Tm ( )Tj ET q 1 0 0 1 464.8819 491.2218 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 490.9888 Tm ( )Tj 0.025 Tc 10 0 0 10 79.37 464.6718 Tm (Total borrowings)Tj /T1_1 1 Tf -0.025 Tw 33.217 0 Td (1,857,091)Tj /T1_0 1 Tf 8.504 0 Td (1,184,490)Tj ET 1.11 w q 1 0 0 1 379.8425 460.0209 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 457.9209 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 457.5929 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8819 460.0209 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8819 457.9209 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 457.5929 Tm ( )Tj /T1_2 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 79.3701 432.9759 Tm (Notes:)Tj /T1_0 1 Tf 0.01 Tw 0 -2.8 Td (\(i\))Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (Secured bank loans bear interest at rates of 0.5% \(2024: 0.5% to 4.00%\)\ per annum as at 31 December )Tj -0.025 Tw 0 -1.4 Td (2025.)Tj 0.051 Tc 0.07 Tw -2.268 -2.8 Td [(\()26 (i)26 (i)26 (\))]TJ /Span<>> BDC 1.322 0 Td ( )Tj EMC 0.946 0 Td [(Unsecured)12.7 ( bank)12.7 ( loans)12.6 ( bear)12.7 ( interest)12.7 ( at)12.6 ( rates)12.7 ( of)12.7 ( 5)12.7 (.)12.7 (8)12.7 (0)12.6 (%)12.7 ( \()12.7 (2)12.7 (0)12.7 (2)12.6 (4)12.7 (:)12.7 ( 5)12.7 (.)12.7 (4)12.6 (0)12.7 (%)12.7 ( to)12.6 ( 7)12.7 (.)12.7 (5)12.7 (%\))12.7 ( per)12.7 ( annum)12.7 ( as)12.7 ( at)12.7 ( 3)12.7 (1)26 ( )]TJ 0.025 Tc 0 Tw 0 -1.4 Td (December 2025.)Tj 0.023 Tw -2.268 -2.8 Td (\(iii\))Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (Other borrowings bear interest at ranging from 5.00% to 6.29% \(2024: 7.\24% to 7.31%\) per annum as )Tj 0 Tw 0 -1.4 Td (at 31 December 2025.)Tj -2.268 -2.8 Td (As at 31 December 2025, borrowings of the Group were repayable as follow\s:)Tj /T1_1 1 Tf -0.025 Tw 35.342 -2.8 Td (2025)Tj /T1_0 1 Tf 8.504 0 Td (2024)Tj /T1_3 1 Tf -10.635 -1.4 Td (RMB\222000)Tj /T1_2 1 Tf 8.672 0 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -41.883 -2.8 Td (Within 1 year or on demand)Tj /T1_1 1 Tf -0.025 Tw 34.017 0 Td (547,149)Tj /T1_0 1 Tf 8.504 0 Td (737,990)Tj ET 0.5 w [1.992 1.992]0 d q 1 0 0 1 379.8425 204.5168 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 204.2838 Tm ( )Tj ET q 1 0 0 1 464.8818 204.5168 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 204.2838 Tm ( )Tj 0.025 Tc 10 0 0 10 79.37 177.9668 Tm (Over 1 year but within 2 years)Tj /T1_1 1 Tf -0.025 Tw 34.542 0 Td (44,500)Tj /T1_0 1 Tf 7.979 0 Td (357,000)Tj 0 Tw -42.521 -1.4 Td (Over 2 years but within 5 years)Tj /T1_1 1 Tf -0.025 Tw 33.217 0 Td (1,265,442)Tj /T1_0 1 Tf 9.829 0 Td (89,500)Tj ET []0 d q 1 0 0 1 379.8425 159.5078 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 159.2748 Tm ( )Tj ET q 1 0 0 1 464.8818 159.5078 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 159.2748 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 411.5433 132.9577 Tm (1,309,942)Tj /T1_0 1 Tf 9.304 0 Td (446,500)Tj ET [1.992 1.992]0 d q 1 0 0 1 379.8425 128.6631 cm 0 0 m 73.701 0 l S Q []0 d q 1 0 0 1 379.8425 126.7458 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 127.0128 Tm ( )Tj ET [1.992 1.992]0 d q 1 0 0 1 464.8818 128.6631 cm 0 0 m 73.701 0 l S Q []0 d q 1 0 0 1 464.8818 126.7458 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 127.0128 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 411.5433 100.6958 Tm (1,857,091)Tj /T1_0 1 Tf 8.504 0 Td (1,184,490)Tj ET 1.11 w q 1 0 0 1 379.8425 96.045 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 93.945 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 93.617 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 96.045 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 93.945 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 93.617 Tm ( )Tj ET endstreamendobj103 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 21 \226)Tj /T1_1 1 Tf 10 0 0 10 79.3701 728.7079 Tm (Ageing analysis)Tj /T1_0 1 Tf 0 -2.8 Td (An ageing analysis of trade receivables \(net of allowance for credit lo\sses\) of the Group is as follows:)Tj /T1_1 1 Tf -0.025 Tw 35.342 -2.8 Td (2025)Tj /T1_0 1 Tf 8.504 0 Td (2024)Tj /T1_2 1 Tf -10.635 -1.4 Td (RMB\222000)Tj /T1_3 1 Tf 8.672 0 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -41.883 -2.8 Td (Within 2 months)Tj /T1_1 1 Tf -0.025 Tw 34.017 0 Td (131,994)Tj /T1_0 1 Tf 9.029 0 Td (51,689)Tj 0 Tw -43.046 -1.4 Td (Over 2 months but within 6 months)Tj /T1_1 1 Tf 0 Tc 36.917 0 Td (\226)Tj /T1_0 1 Tf 8.504 0 Td (\226)Tj 0.025 Tc -45.421 -1.4 Td (Over 6 months but within 1 year)Tj /T1_1 1 Tf 0 Tc 36.917 0 Td (\226)Tj /T1_0 1 Tf 8.504 0 Td (\226)Tj 0.025 Tc -45.421 -1.4 Td (Over 1 year but within 2 years)Tj /T1_1 1 Tf 0 Tc 36.917 0 Td (\226)Tj /T1_0 1 Tf 8.504 0 Td (\226)Tj 0.025 Tc -45.421 -1.4 Td (Over 2 years )Tj /T1_3 1 Tf -0.025 Tw (\(note\))Tj /T1_1 1 Tf 0 Tc 0 Tw 36.917 0 Td (\226)Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 6.129 0 Td (22,507)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 379.8425 570.2489 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 570.0159 Tm ( )Tj ET q 1 0 0 1 464.8818 570.2489 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 570.0159 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 419.5433 543.6989 Tm (131,994)Tj /T1_0 1 Tf 9.029 0 Td (74,196)Tj ET 1.11 w q 1 0 0 1 379.8425 539.048 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 536.948 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 536.6201 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 539.048 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 536.948 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 536.6201 Tm ( )Tj 0.025 Tc 10 0 0 10 79.3701 512.0031 Tm (The ageing is counted from the date when trade receivables are recognise\d.)Tj /T1_3 1 Tf -0.025 Tw 0 -2.8 Td (Note:)Tj /T1_0 1 Tf 0.04 Tc 0.07 Tw 0 -2.8 Td [(A)0.5 (s)13.1 ( )0.5 (a)0.5 (t)13 ( )0.6 (3)13 (1)13 ( )0.6 (D)0.5 (e)0.5 (c)0.6 (e)0.5 (m)0.5 (b)0.6 (e)0.5 (r)13 ( )0.6 (2)13 (0)13 (2)13 (5)13.1 (,)13 ( )0.5 (t)0.5 (r)0.6 (a)0.5 (d)0.5 (e)13 ( )0.6 (r)0.5 (e)0.6 (c)0.5 (e)0.5 (i)0.6 (v)0.5 (a)0.5 (b)0.5 (l)0.6 (e)0.5 (s)13 ( )0.5 (a)0.6 (g)0.5 (e)0.5 (d)13.1 ( )0.5 (o)0.5 (v)0.5 (e)0.6 (r)13 ( )0.5 (2)13.1 ( )0.5 (y)0.5 (e)0.6 (a)0.5 (r)0.5 (s)13 ( )0.6 (a)0.5 (m)0.5 (o)0.6 (u)0.5 (n)0.5 (t)0.5 (i)0.6 (n)0.5 (g)13 ( )0.5 (t)0.6 (o)13 ( )0.5 (n)0.5 (i)0.5 (l)13.1 ( )0.5 (\()13 (2)13 (0)13.1 (2)13 (4)13 (:)13 ( )0.6 (R)0.5 (M)0.5 (B)13.1 (2)13 (2)13 (,)13 (5)13.1 (0)13 (7)13 (,)13 (0)13 (0)13.1 (0)13 (\))15 ( )]TJ 0.025 Tc 0.027 Tw 0 -1.4 Td (were due from customers which the Group has trade and other payable bala\nces with amounts not less than )Tj 0.057 Tc 0.07 Tw 0 -1.4 Td [(the)12.5 ( respective)12.5 ( trade)12.4 ( receivables)12.4 ( as)12.4 ( at)12.4 ( the)12.5 ( end)12.4 ( of)12.4 ( the)12.4 ( reporting)12.4 ( period.)12.4 ( Based)12.4 ( on)12.5 ( past)12.5 ( experience)12.5 ( and)32 ( )]TJ 0.025 Tc 0.041 Tw 0 -1.4 Td [(repayment )0.6 (history )0.6 (of )0.5 (the )0.6 (trade )0.5 (debtors, )0.5 (the )0.6 (directors )0.5 (of )0.6 (the )0.5 (Company )0.5 (believe )0.6 (that )0.5 (no )0.6 (impairment )0.6 (allowance )]TJ 0 Tw 0 -1.4 Td (is necessary in respect of these balances.)Tj 0.048 Tc 0.07 Tw 0 -2.8 Td [(Credit)12.6 ( terms)12.7 ( granted)12.6 ( to)12.6 ( customers)12.6 ( mainly)12.6 ( range)12.6 ( from)12.6 ( 0)12.6 ( to)12.6 ( 6)12.7 (0)12.6 ( days)12.6 ( \()12.7 (2)12.6 (0)12.6 (2)12.6 (4)12.6 (:)12.6 ( 0)12.7 ( to)12.6 ( 6)12.6 (0)12.6 ( days\))12.6 ( depending)12.6 ( on)23 ( )]TJ 0.025 Tc 0 Tw 0 -1.4 Td (customers relationship with the Group, their creditworthiness and past s\ettlement record.)Tj /T1_1 1 Tf -2.268 -2.8 Td (13.)Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (TRADE AND BILLS PAYABLE)Tj /T1_0 1 Tf 0 -2.8 Td (An ageing analysis of trade and bills payable of the Group based on invo\ice date is as follows:)Tj /T1_1 1 Tf -0.025 Tw 35.342 -2.8 Td (2025)Tj /T1_0 1 Tf 8.504 0 Td (2024)Tj /T1_2 1 Tf -10.635 -1.4 Td (RMB\222000)Tj /T1_3 1 Tf 8.672 0 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -41.883 -2.8 Td (Within 1 year)Tj /T1_1 1 Tf -0.025 Tw 34.542 0 Td (79,036)Tj /T1_0 1 Tf 7.979 0 Td (261,399)Tj 0 Tw -42.521 -1.4 Td (Over 1 year but within 2 years)Tj /T1_1 1 Tf 0 Tc 36.917 0 Td (\226)Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 6.129 0 Td (18,925)Tj 0 Tw -43.046 -1.4 Td (Over 2 years)Tj /T1_1 1 Tf -0.025 Tw 35.067 0 Td (5,713)Tj /T1_0 1 Tf 7.979 0 Td (45,101)Tj ET 0.5 w q 1 0 0 1 379.8425 199.544 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 199.311 Tm ( )Tj ET q 1 0 0 1 464.8818 199.544 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 199.311 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 424.7933 172.994 Tm (84,749)Tj /T1_0 1 Tf 7.979 0 Td (325,425)Tj ET 1.11 w q 1 0 0 1 379.8425 168.3432 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 166.2432 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 165.9152 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 168.3432 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 166.2432 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 165.9152 Tm ( )Tj ET endstreamendobj30 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 793.701]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj31 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 793.701]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj32 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 793.701]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj33 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 793.701]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj34 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 793.701]/Type/Page/PieceInfo</LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>>>endobj112 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 20 \226)Tj /T1_1 1 Tf 10 0 0 10 56.6929 728.7079 Tm (11.)Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (PROPERTY, PLANT AND EQUIPMENT)Tj /T1_0 1 Tf 0.016 Tw 0 -2.8 Td (The directors of the Company estimated the recoverable amounts of the ca\sh-generating units to which coal )Tj 0.026 Tc 0.082 Tw 0 -1.4 Td [(mining)1.1 ( )0.5 (rights)1 ( )0.5 (and)1 ( )0.5 (related)1 ( )0.5 (property,)1 ( )0.5 (plant)1 ( )0.5 (and)1 ( )0.5 (equipment)1 ( )0.5 (in)1 ( )0.5 (Indonesia)1 ( )0.5 (have)1 ( )0.5 (been)1 ( )0.5 (allocated.)1.1 ( )0.5 (As)1 ( )0.5 (a)1 ( )0.5 (result,)1 ( )0.5 (no)1 ( )]TJ 0.046 Tc 0.07 Tw 0 -1.4 Td [(impairment)12.4 ( losses)12.4 ( on)12.5 ( the)12.4 ( Group\222s)12.4 ( coal)12.4 ( mining)12.4 ( rights)12.4 ( and)12.4 ( the)12.5 ( related)12.4 ( property,)12.4 ( plant)12.4 ( and)12.4 ( equipment)12.4 ( in)21 ( )]TJ 0.067 Tc 0 -1.4 Td [(Indonesia)12.2 ( for)12.2 ( the)12.2 ( year)12.2 ( ended)12.2 ( 3)12.2 (1)12.2 ( December)12.2 ( 2)12.2 (0)12.2 (2)12.2 (5)12.2 ( \()12.2 (2)12.2 (0)12.2 (2)12.2 (4)12.2 (:)12.2 ( impairment)12.2 ( losses)12.2 ( of)12.2 ( RMB)12.3 (3)12.2 (4)12.2 (,)12.2 (9)12.2 (0)12.2 (7)12.2 (,)12.2 (0)12.2 (0)12.2 (0)12.2 ( and)42 ( )]TJ 0.025 Tc 0.06 Tw 0 -1.4 Td (RMB32,712,000 respectively\). As at 31 December 2025, the carrying amoun\ts of the Group\222s coal mining )Tj 0 Tw 0 -1.4 Td (related property, plant and equipment amounted to RMB3,497,253,000 \(202\4: RMB4,302,157,000\).)Tj 0.07 Tw 0 -2.8 Td (The Group\222s property, plant and equipment with net carrying amount of\ nil \(2024: RMB25,850,000\) were )Tj 0 Tw 0 -1.4 Td (pledged for the Group\222s borrowings \(note 14\), as follows:)Tj /T1_1 1 Tf -0.025 Tw 35.342 -2.8 Td (2025)Tj /T1_0 1 Tf 8.504 0 Td (2024)Tj /T1_2 1 Tf -10.635 -1.4 Td (RMB\222000)Tj /T1_3 1 Tf 8.672 0 Td (RMB\222000)Tj /T1_0 1 Tf -41.883 -2.8 Td (Buildings)Tj /T1_1 1 Tf 0 Tc 0 Tw 36.917 0 Td (\226)Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 6.654 0 Td (9,210)Tj 0 Tw -43.571 -1.4 Td (Plant and machinery)Tj /T1_1 1 Tf 0 Tc 36.917 0 Td (\226)Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 6.129 0 Td (13,839)Tj 0 Tw -43.046 -1.4 Td (Electronic and other equipment)Tj /T1_1 1 Tf 0 Tc 36.917 0 Td (\226)Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 7.454 0 Td (212)Tj 0 Tw -44.371 -1.4 Td (Motor vehicles)Tj /T1_1 1 Tf 0 Tc 36.917 0 Td (\226)Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 6.654 0 Td (1,690)Tj 0 Tw -43.571 -1.4 Td (Mining structures)Tj /T1_1 1 Tf 0 Tc 36.917 0 Td (\226)Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 7.454 0 Td (899)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 379.8425 458.2489 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 458.0159 Tm ( )Tj ET q 1 0 0 1 464.8818 458.2489 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 458.0159 Tm ( )Tj /T1_1 1 Tf 10 0 0 10 448.5433 431.6989 Tm (\226)Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 6.129 0 Td (25,850)Tj ET 1.11 w q 1 0 0 1 379.8425 427.048 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 424.948 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 424.62 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 427.048 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 424.948 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 424.62 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 10 0 0 10 56.6929 400.003 Tm (12.)Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (TRADE RECEIVABLES)Tj -0.025 Tw 35.342 -2.8 Td (2025)Tj /T1_0 1 Tf 8.504 0 Td (2024)Tj /T1_2 1 Tf -10.635 -1.4 Td (RMB\222000)Tj /T1_3 1 Tf 8.672 0 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -41.883 -2.8 Td (Trade receivables)Tj /T1_1 1 Tf -0.025 Tw 34.017 0 Td (132,968)Tj /T1_0 1 Tf 8.504 0 Td (110,488)Tj 0 Tw -42.521 -1.4 Td (Less: allowance for credit loss)Tj /T1_1 1 Tf -0.025 Tw 35.484 0 Td (\(974\))Tj /T1_0 1 Tf 7.179 0 Td (\(36,292\))Tj ET 0.5 w q 1 0 0 1 379.8425 311.544 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 311.311 Tm ( )Tj ET q 1 0 0 1 464.8818 311.544 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 311.311 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 419.5433 284.994 Tm (131,994)Tj /T1_0 1 Tf 9.029 0 Td (74,196)Tj ET 1.11 w q 1 0 0 1 379.8425 280.3431 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 278.2431 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 277.9151 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 280.3431 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 278.2431 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 277.9151 Tm ( )Tj 0.035 Tc 0.073 Tw 10 0 0 10 79.3701 253.2981 Tm [(As)10.1 ( )0.5 (at)10 ( )0.5 (1)10 ( )0.5 (January)10 ( )0.5 (2)10 (0)10 (2)10.1 (4)10 (,)10 ( )0.5 (trade)10 ( )0.5 (receivables)10 ( )0.5 (from)10 ( )0.5 (contracts)10 ( )0.5 (with)10 ( )0.5 (customers)10 ( )0.5 (\(net)10 ( )0.5 (of)10 ( )0.5 (allowance)10 ( )0.5 (for)10 ( )0.5 (credit)10 ( )0.5 (loss\))10 ( )]TJ 0.025 Tc 0 Tw 0 -1.4 Td (amounted to RMB65,741,000.)Tj ET endstreamendobj111 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 19 \226)Tj /T1_1 1 Tf 10 0 0 10 56.6929 728.7079 Tm (10.)Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (COAL MINING RIGHTS)Tj /T1_0 1 Tf 0.024 Tc 0 -2.8 Td [(The balance represents the rights to conduct mining activities in South \Kalimantan, Indonesia \(2024: Shanxi)-1 ( )]TJ 0.025 Tc 0.05 Tw 0 -1.4 Td (Province, PRC and South Kalimantan, Indonesia\). The Department of Land \Resources of Shanxi Province, )Tj 0.047 Tc 0.07 Tw 0 -1.4 Td [(PRC)12.9 ( and)12.8 ( Kalimantan)12.9 ( Province,)12.9 ( Indonesia)12.9 ( issued)12.9 ( and)12.9 ( renewed)12.9 ( several)12.9 ( mining)12.9 ( rights)12.8 ( certificates)12.9 ( to)12.9 ( the)22.1 ( )]TJ 0.025 Tc 0 Tw 0 -1.4 Td (Group. Details of the Group\222s coal mining rights are as follows:)Tj /T1_1 1 Tf 0 -2.8 Td (Coal mining rights)Tj 24.094 0 Td (Expiry date)Tj /T1_2 1 Tf -24.094 -2.8 Td (South Kalimantan, Indonesia)Tj /T1_0 1 Tf 0 -1.4 Td (SDE Coal Mine)Tj 24.094 0 Td (14 May 2034)Tj -24.094 -1.4 Td (VSE Coal Mine)Tj 24.094 0 Td (14 May 2034)Tj -24.094 -1.4 Td (IMJ Coal Mine)Tj 24.094 0 Td (14 May 2034)Tj -24.094 -1.4 Td (SME Coal Mine)Tj 24.094 0 Td (14 May 2034)Tj -24.094 -1.4 Td (TSE Coal Mine)Tj 24.094 0 Td (14 May 2034)Tj /T1_2 1 Tf -24.094 -2.8 Td (Shanxi Province, PRC)Tj /T1_0 1 Tf 0 -1.4 Td (Xingtao Coal Mine )Tj /T1_2 1 Tf -0.025 Tw (\(note\))Tj /T1_0 1 Tf 0 Tw 24.094 0 Td (14 September 2034)Tj -24.094 -1.4 Td (Fengxi Coal Mine )Tj /T1_2 1 Tf -0.025 Tw (\(note\))Tj /T1_0 1 Tf 0 Tw 24.094 0 Td (24 January 2034)Tj -24.094 -1.4 Td (Chongsheng Coal Mine )Tj /T1_2 1 Tf -0.025 Tw (\(note\))Tj /T1_0 1 Tf 0 Tw 24.094 0 Td (14 December 2039)Tj -24.094 -1.4 Td (Xinglong Coal Mine )Tj /T1_2 1 Tf -0.025 Tw (\(note\))Tj /T1_0 1 Tf 0 Tw 24.094 0 Td (14 June 2034)Tj -24.094 -1.4 Td (Hongyuan Coal Mine)Tj /T1_2 1 Tf ( \(note\))Tj /T1_0 1 Tf 24.094 0 Td (13 July 2030)Tj /T1_2 1 Tf -0.025 Tw -24.094 -2.63 Td (Note:)Tj /T1_0 1 Tf 0 Tw /Span<>> BDC ( )Tj EMC 3.402 0 Td (These coal mining rights were disposed during the year, as detailed in n\ote 16.)Tj 0.074 Tc 0.07 Tw -3.402 -2.8 Td [(As)12.3 ( at)12.3 ( 3)12.4 (1)12.3 ( December)12.3 ( 2)12.3 (0)12.3 (2)12.3 (5)12.4 (,)12.3 ( the)12.4 ( Group\222s)12.3 ( coal)12.3 ( mining)12.3 ( rights)12.3 ( with)12.3 ( net)12.3 ( carrying)12.3 ( amount)12.3 ( of)12.3 ( nil)12.3 ( \()12.3 (2)12.3 (0)12.3 (2)12.3 (4)12.3 (:)49 ( )]TJ 0.025 Tc 0 Tw 0 -1.4 Td (approximately RMB1,378,449,000\) were pledged for the Group\222s borrowi\ngs \(Note 14\).)Tj ET endstreamendobj110 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 18 \226)Tj /T1_1 1 Tf 10 0 0 10 79.3701 728.7079 Tm (From continuing and discontinued operations)Tj /T1_0 1 Tf 0.029 Tw 0 -2.8 Td (For the year ended 31 December 2025, the computation of diluted loss per\ share has not taken into account )Tj 0.036 Tw 0 -1.4 Td (the potential ordinary shares on share options and perpetual subordinate\d convertible securities as assumed )Tj 0 Tw 0 -1.4 Td (conversion would result in a decrease in loss per share.)Tj /T1_1 1 Tf 0 -2.8 Td (From continuing operations)Tj /T1_0 1 Tf 0.037 Tc 0.071 Tw 0 -2.8 Td [(For)12 ( )0.6 (the)12 ( )0.5 (years)12 ( )0.5 (ended)12 ( )0.5 (3)12 (1)12 ( )0.5 (December)12 ( )0.5 (2)12 (0)12 (2)12 (5)12 ( )0.5 (and)12 ( )0.5 (2)12 (0)12 (2)12 (4)12 (,)12 ( )0.5 (the)12 ( )0.5 (computation)12 ( )0.5 (of)12 ( )0.5 (diluted)12 ( )0.5 (earnings)12 ( )0.5 (per)12.1 ( )0.5 (share)12 ( )0.5 (has)12 ( )0.5 (not)12 ( )]TJ 0.025 Tc 0.009 Tw 0 -1.4 Td (taken into account the potential ordinary shares on perpetual subordinat\ed convertible securities as assumed )Tj 0 Tw 0 -1.4 Td (conversion would result in an increase in earnings per share.)Tj /T1_1 1 Tf 0 -2.8 Td (From discontinued operations)Tj /T1_0 1 Tf 0.037 Tc 0.071 Tw 0 -2.8 Td [(For)12 ( )0.6 (the)12 ( )0.5 (year)12 ( )0.5 (ended)12 ( )0.5 (3)12 (1)12 ( )0.5 (December)12 ( )0.5 (2)12 (0)12 (2)12 (5)12 (,)12 ( )0.5 (the)12.1 ( )0.5 (computation)12 ( )0.5 (of)12 ( )0.5 (diluted)12 ( )0.5 (earnings)12 ( )0.5 (per)12 ( )0.6 (share)12 ( )0.5 (has)12.1 ( )0.5 (not)12 ( )0.5 (taken)12 ( )0.5 (into)12 ( )]TJ 0.025 Tc 0.062 Tw 0 -1.4 Td (account the potential ordinary shares on share options and perpetual sub\ordinated convertible securities as )Tj 0.033 Tc 0.075 Tw 0 -1.4 Td [(assumed)8 ( )0.5 (conversion)8 ( )0.5 (would)8 ( )0.5 (result)8 ( )0.5 (in)8.1 ( )0.5 (a)8 ( )0.5 (decrease)8 ( )0.5 (in)8 ( )0.5 (loss)8 ( )0.5 (per)8 ( )0.5 (share.)7.9 ( )0.6 (For)8 ( )0.5 (the)8 ( )0.5 (year)8 ( )0.6 (ended)8 ( )0.5 (3)8 (1)8 ( )0.5 (December)8 ( )0.5 (2)8 (0)8 (2)8.1 (4)8 (,)8 ( )]TJ 0.025 Tc 0 Tw 0 -1.4 Td (diluted earnings per share for discontinued operations is RMB15.69 cents\ per share.)Tj /T1_1 1 Tf 1.193 Tw -2.268 -2.8 Td (9.)Tj /Span<>> BDC ( )Tj EMC (DIVIDEND)Tj /T1_0 1 Tf 0.024 Tw 2.268 -2.8 Td (The directors of the Company do not recommend the payment of any dividen\ds to its ordinary shareholders )Tj 0 Tw 0 -1.4 Td (for the year ended 31 December 2025 \(2024: HK$50,748,280\).)Tj ET endstreamendobj109 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 17 \226)Tj /T1_1 1 Tf -0.025 Tw 10 0 0 10 432.7933 724.7079 Tm (2025)Tj /T1_0 1 Tf 8.504 0 Td (2024)Tj /T1_1 1 Tf -43.846 -1.4 Td (Shares)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 79.37 709.2079 cm 0 0 m 30.39 0 l S Q BT 0 Tw 10 0 0 10 419.2881 710.7079 Tm (Number of shares)Tj ET q 1 0 0 1 379.8425 706.2488 cm 0 0 m 158.74 0 l S Q BT 0 Tc 0.1 0 0 0.1 374.1732 706.0159 Tm ( )Tj 0.025 Tc 10 0 0 10 79.37 679.6989 Tm (From continuing and discontinued operations)Tj /T1_0 1 Tf 0 -2.8 Td (Weighted average number of ordinary shares for the purpose of )Tj 1.001 -1.4 Td (diluted earnings per share)Tj /T1_1 1 Tf -0.025 Tw 30.367 0 Td (2,537,205,194)Tj /T1_0 1 Tf 8.504 0 Td (2,494,568,232)Tj 0 Tw -39.871 -2.8 Td (Adjustments for calculation of diluted earnings per share:)Tj 1.001 -1.4 Td (Share options)Tj /T1_1 1 Tf -0.025 Tw 34.645 0 Td (N/A)Tj /T1_0 1 Tf 5.551 0 Td (17,677,816)Tj 0 Tw -40.196 -1.4 Td (Perpetual subordinated convertible securities)Tj /T1_1 1 Tf -0.025 Tw 34.645 0 Td (N/A)Tj /T1_0 1 Tf 5.026 0 Td (118,000,000)Tj ET q 1 0 0 1 379.8425 577.2398 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 577.0068 Tm ( )Tj ET q 1 0 0 1 464.8818 577.2398 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 577.0068 Tm ( )Tj 0.025 Tc 10 0 0 10 79.37 550.6898 Tm (Adjusted weighted average number of shares classified as equity )Tj 0 Tc ( )Tj 0.025 Tc 1.001 -1.4 Td (for the purpose of diluted earnings per share)Tj /T1_1 1 Tf -0.025 Tw 30.367 0 Td (2,537,205,194)Tj /T1_0 1 Tf 8.504 0 Td 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73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 276.5432 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 276.2151 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 432.7933 249.8982 Tm (2025)Tj /T1_0 1 Tf 8.504 0 Td (2024)Tj /T1_1 1 Tf -43.846 -1.4 Td (Shares)Tj ET 0.5 w q 1 0 0 1 79.37 234.3982 cm 0 0 m 30.39 0 l S Q BT 0 Tw 10 0 0 10 419.2881 235.8982 Tm (Number of shares)Tj ET q 1 0 0 1 379.8425 231.4391 cm 0 0 m 158.74 0 l S Q BT 0 Tc 0.1 0 0 0.1 374.1732 231.2061 Tm ( )Tj /T1_0 1 Tf 0.025 Tc 10 0 0 10 79.37 204.8891 Tm (Weighted average number of ordinary shares for the purpose of )Tj 0 Tc ( )Tj 0.025 Tc 1.001 -1.4 Td (basic \(loss\)/earnings per share)Tj /T1_1 1 Tf -0.025 Tw 30.367 0 Td (2,537,205,766)Tj /T1_0 1 Tf 8.504 0 Td (2,494,568,232)Tj ET 1.11 w q 1 0 0 1 379.8425 186.2383 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 184.1383 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 183.8103 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 186.2383 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 184.1383 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 183.8103 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 10 0 0 10 79.3701 159.1933 Tm (From discontinued operations)Tj /T1_0 1 Tf 0.067 Tw 0 -2.8 Td (Basic loss per share for the discontinued operations is RMB6.75 cents pe\r share \(2024: basic earnings per )Tj 0 Tw 0 -1.4 Td (share is RMB16.54 cents per share\).)Tj ET endstreamendobj116 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 14 \226)Tj /T1_1 1 Tf 10 0 0 10 56.6929 728.7079 Tm (7.)Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (INCOME TAX EXPENSE)Tj /T1_0 1 Tf 0 -2.8 Td (Income tax expense in the consolidated statement of comprehensive income\ represents:)Tj /T1_1 1 Tf -0.025 Tw 35.342 -2.8 Td (2025)Tj /T1_0 1 Tf 8.504 0 Td (2024)Tj /T1_2 1 Tf -10.635 -1.4 Td (RMB\222000)Tj /T1_3 1 Tf 8.672 0 Td (RMB\222000)Tj /T1_0 1 Tf -2.229 -1.4 Td (\(Re-presented\))Tj /T1_1 1 Tf 0 Tw -39.654 -2.8 Td (Continuing operations)Tj /T1_0 1 Tf 0 -1.4 Td (Current tax expense)Tj 1.001 -1.4 Td (\227 PRC Corporate Income Tax)Tj /T1_1 1 Tf -0.025 Tw 34.067 0 Td (4,466)Tj /T1_0 1 Tf 7.979 0 Td (51,102)Tj 0 Tw -42.046 -1.4 Td (\227 Indonesia withholding Income Tax)Tj /T1_1 1 Tf -0.025 Tw 34.067 0 Td (1,503)Tj /T1_0 1 Tf 7.979 0 Td (24,178)Tj 0 Tw -42.046 -1.4 Td (\227 Indonesia Final Income Tax)Tj /T1_1 1 Tf -0.025 Tw 34.067 0 Td (5,916)Tj /T1_0 1 Tf 0 Tc 0 Tw 10.354 0 Td (\226)Tj 0.025 Tc -44.421 -1.4 Td (\227 Underprovision of PRC Corporate Income Tax in prior years)Tj /T1_1 1 Tf -0.025 Tw 34.867 0 Td (534)Tj /T1_0 1 Tf 0 Tc 0 Tw 9.554 0 Td (\226)Tj 0.025 Tc -44.421 -1.4 Td (\227 )Tj /Span<>> BDC ( )Tj EMC 1.3 0 Td (Overprovision of Indonesia withholding Income Tax in )Tj 0 Tc ( )Tj 0.025 Tc /Span<>> BDC 0 -1.4 Td ( )Tj EMC 1.025 0 Td (prior years)Tj /T1_1 1 Tf -0.025 Tw 31.359 0 Td (\(6,270\))Tj /T1_0 1 Tf 0 Tc 0 Tw 10.737 0 Td (\226)Tj ET 0 0 0 1 K 0.5 w [1.992 1.992]0 d q 1 0 0 1 379.8425 514.2489 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0.1 0 0 0.1 374.1732 514.0159 Tm ( )Tj ET q 1 0 0 1 464.8818 514.2489 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 514.0159 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 430.0433 487.6989 Tm (6,149)Tj /T1_0 1 Tf 7.979 0 Td (75,280)Tj 0 Tw -43.046 -1.4 Td (Deferred tax )Tj /T1_1 1 Tf -0.025 Tw 35.484 0 Td (\(283\))Tj /T1_0 1 Tf 7.179 0 Td (\(38,964\))Tj ET []0 d q 1 0 0 1 379.8425 469.2398 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 469.0068 Tm ( )Tj ET q 1 0 0 1 464.8818 469.2398 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 469.0068 Tm ( )Tj 0.025 Tc 10 0 0 10 79.37 442.6898 Tm (Income tax expense)Tj /T1_1 1 Tf -0.025 Tw 35.067 0 Td (5,866)Tj /T1_0 1 Tf 7.979 0 Td (36,316)Tj ET 1.11 w q 1 0 0 1 379.8425 438.039 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 435.939 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 435.611 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 438.039 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 435.939 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 435.611 Tm ( )Tj /T1_3 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 79.3701 410.994 Tm (Notes:)Tj /T1_0 1 Tf 0.046 Tw 0 -2.8 Td (\(i\))Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (Pursuant to the rules and regulations of the Cayman Islands and the Brit\ish Virgin Islands, the Group )Tj 0 Tw 0 -1.4 Td (is not subject to any income tax in the Cayman Islands and the British V\irgin Islands \(2024: nil\).)Tj 0.007 Tw -2.268 -2.8 Td (\(ii\))Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (Provision for the Hong Kong Profit Tax was based on the statutory rate o\f 16.5% \(2024: 16.5%\) of the )Tj 0 Tw 0 -1.4 Td (assessable profit of subsidiaries which carried on business in Hong Kong\.)Tj 0.061 Tw -2.268 -2.8 Td (\(iii\))Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (Provision for the PRC Corporate Income Tax was based on the statutory ra\te of 25% \(2024: 25%\) of )Tj 0 Tw 0 -1.4 Td (the assessable profits of subsidiaries which carried on businesses in th\e PRC.)Tj 0.003 Tw -2.268 -2.8 Td (\(iv\))Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (Provision for the Indonesia Corporate Income Tax was based on the statut\ory rate 22% \(2024: 22%\) of )Tj 0.048 Tc 0.07 Tw 0 -1.4 Td [(the)12.2 ( assessable)12.2 ( profits)12.3 ( of)12.3 ( subsidiaries)12.2 ( which)12.2 ( carried)12.2 ( on)12.2 ( businesses)12.3 ( in)12.3 ( Indonesia.)12.2 ( No)12.3 ( provision)12.2 ( for)23.1 ( )]TJ 0.055 Tc 0 -1.4 Td [(Indonesia)12.6 ( Corporate)12.6 ( Income)12.6 ( Tax)12.5 ( has)12.6 ( been)12.6 ( made)12.6 ( in)12.6 ( the)12.6 ( consolidated)12.6 ( financial)12.6 ( statements)12.6 ( as)12.5 ( the)30 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.4 Td [(subsidiaries)4 ( )0.5 (have)4 ( )0.5 (sufficient)4 ( )0.5 (tax)4 ( )0.5 (losses)4 ( )0.5 (carried)4 ( )0.5 (forward)4 ( )0.5 (to)4 ( )0.5 (set)4 ( )0.5 (off)4 ( )0.5 (against)4 ( )0.5 (the)4 ( )0.6 (assessable)4 ( )0.5 (profit)4 ( )0.5 (for)4 ( )0.5 (the)4 ( )]TJ 0.025 Tc 0 Tw 0 -1.4 Td (years ended 31 December 2025 and 2024.)Tj ET endstreamendobj115 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 13 \226)Tj /T1_1 1 Tf 10 0 0 10 56.6929 728.7079 Tm (6.)Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (PROFIT BEFORE TAXATION)Tj /T1_0 1 Tf 0 -2.8 Td (Profit before taxation is arrived at after charging:)Tj /T1_1 1 Tf -0.025 Tw 35.342 -2.8 Td (2025)Tj /T1_0 1 Tf 8.504 0 Td (2024)Tj /T1_2 1 Tf -10.635 -1.4 Td (RMB\222000)Tj /T1_3 1 Tf 8.672 0 Td (RMB\222000)Tj /T1_0 1 Tf -2.229 -1.4 Td (\(Re-presented\))Tj /T1_1 1 Tf 0 Tw -39.654 -2.8 Td (Continuing operations)Tj /T1_0 1 Tf 0 -1.4 Td (Cost of inventories )Tj /T1_3 1 Tf (\(note \(i\)\))Tj /T1_1 1 Tf -0.025 Tw 34.017 0 Td (786,558)Tj /T1_0 1 Tf 8.504 0 Td (281,601)Tj 0 Tw -42.521 -1.4 Td (Short-term leases payment)Tj /T1_1 1 Tf -0.025 Tw 35.067 0 Td (3,686)Tj /T1_0 1 Tf 8.504 0 Td (1,457)Tj 0 Tw -43.571 -1.4 Td (Depreciation of property, plant and equipment)Tj /T1_1 1 Tf -0.025 Tw 34.017 0 Td (184,268)Tj /T1_0 1 Tf 8.504 0 Td (103,789)Tj 0 Tw -42.521 -1.4 Td (Amortisation of coal mining rights \(included in cost of sales\))Tj /T1_1 1 Tf -0.025 Tw 35.067 0 Td (2,162)Tj /T1_0 1 Tf 0 Tc 0 Tw 10.354 0 Td (\226)Tj 0.025 Tc -45.421 -1.4 Td (Depreciation of right-of-use assets)Tj /T1_1 1 Tf -0.025 Tw 35.067 0 Td (6,803)Tj /T1_0 1 Tf 8.504 0 Td (6,132)Tj 0 Tw -43.571 -1.4 Td (Auditors remuneration)Tj 1.001 -1.4 Td (\227 audit services)Tj /T1_1 1 Tf -0.025 Tw 34.067 0 Td (3,473)Tj /T1_0 1 Tf 8.504 0 Td (2,853)Tj 0 Tw -42.571 -1.4 Td (\227 non-audit services)Tj /T1_1 1 Tf -0.025 Tw 34.067 0 Td (2,470)Tj /T1_0 1 Tf 8.504 0 Td (2,200)Tj 0 Tw -43.571 -1.4 Td (Employee benefit expenses \(excluding directors and chief )Tj 0 Tc ( )Tj 0.025 Tc 1.001 -1.4 Td (executives remuneration\))Tj 0 -1.4 Td (\227 Salaries, allowances and benefits in kind)Tj /T1_1 1 Tf -0.025 Tw 33.017 0 Td (463,521)Tj /T1_0 1 Tf 8.504 0 Td (237,193)Tj 0 Tw -41.521 -1.4 Td (\227 Contributions to retirement benefit schemes )Tj /T1_3 1 Tf (\(note \(ii\)\))Tj /T1_1 1 Tf -0.025 Tw 33.542 0 Td (13,726)Tj /T1_0 1 Tf 9.029 0 Td (3,685)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 379.8424 444.2489 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1731 444.0159 Tm ( )Tj ET q 1 0 0 1 464.8818 444.2489 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2125 444.0159 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 419.5432 417.6989 Tm (477,247)Tj /T1_0 1 Tf 8.504 0 Td (240,878)Tj ET 1.11 w q 1 0 0 1 379.8424 413.0481 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8424 410.9481 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1731 410.6201 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 413.0481 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 410.9481 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2125 410.6201 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 10 0 0 10 79.37 384.303 Tm (Discontinued operations)Tj /T1_0 1 Tf 0 -1.4 Td (Depreciation of property, plant and equipment)Tj /T1_1 1 Tf -0.025 Tw 34.017 0 Td (156,082)Tj /T1_0 1 Tf 8.504 0 Td (428,665)Tj 0 Tw -42.521 -1.4 Td (Net \(loss\)/gain on disposal of property, plant and equipment)Tj /T1_1 1 Tf -0.025 Tw 36.009 0 Td (\(19\))Tj /T1_0 1 Tf 7.562 0 Td (5,030)Tj 0 Tw -43.571 -1.4 Td (Amortisation of coal mining rights)Tj /T1_1 1 Tf -0.025 Tw 34.017 0 Td (136,143)Tj /T1_0 1 Tf 8.504 0 Td (416,840)Tj 0 Tw -42.521 -1.4 Td (Depreciation of right-of-use assets)Tj /T1_1 1 Tf -0.025 Tw 36.392 0 Td (74)Tj /T1_0 1 Tf 7.979 0 Td (140)Tj ET 1.11 w q 1 0 0 1 379.8424 323.6522 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8424 321.5522 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1731 321.2242 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 323.6522 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 321.5522 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2125 321.2242 Tm ( )Tj /T1_3 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 79.3699 296.6072 Tm (Notes:)Tj /T1_0 1 Tf 0.028 Tc 0.083 Tw 0 -2.8 Td [(\()3 (i)3 (\))]TJ /Span<>> BDC 1.019 0 Td ( )Tj EMC 1.249 0 Td [(C)-12.4 (o)-12.5 (s)-12.4 (t )0.5 (o)-12.4 (f )0.6 (i)-12.5 (n)-12.4 (v)-12.5 (e)-12.4 (n)-12.5 (t)-12.4 (o)-12.5 (r)-12.4 (i)-12.5 (e)-12.4 (s )0.6 (i)-12.5 (n)-12.4 (c)-12.5 (l)-12.4 (u)-12.5 (d)-12.4 (e)-12.5 (d )0.5 (a)-12.4 (p)-12.5 (p)-12.4 (r)-12.5 (o)-12.4 (x)-12.5 (i)-12.4 (m)-12.5 (a)-12.4 (t)-12.5 (e)-12.4 (l)-12.5 (y )0.5 (R)-12.4 (M)-12.5 (B374,330,000 )0.5 (\(2024: )0.5 (R)-12.4 (M)-12.5 (B196,124,000\) )0.5 (r)-12.5 (e)-12.4 (l)-12.5 (a)-12.4 (t)-12.4 (i)-12.5 (n)-12.5 (g )0.5 (t)-12.4 (o)3 ( )]TJ 0.035 Tc 0.073 Tw 0 -1.4 Td [(employee)10 ( )0.5 (benefit)10 ( )0.5 (expenses,)10 ( )0.5 (depreciation)10.1 ( )0.5 (of)10 ( )0.5 (property,)10 ( )0.5 (plant)10 ( )0.5 (and)10 ( )0.5 (equipment)10 ( )0.6 (and)10 ( )0.5 (amortisation)10 ( )0.5 (of)10 ( )0.5 (coal)10 ( )]TJ 0 -1.4 Td [(mining)10 ( )0.5 (rights)10 ( )0.5 (which)10 ( )0.5 (amounts)10 ( )0.5 (are)10 ( )0.5 (also)10 ( )0.5 (included)10 ( )0.5 (in)10 ( )0.5 (the)10 ( )0.5 (respective)10 ( )0.5 (total)10 ( )0.5 (amounts)10 ( )0.5 (disclosed)10.1 ( separately)10 ( )]TJ 0.025 Tc 0 Tw 0 -1.4 Td (above for each of these types of expenses.)Tj 0.044 Tc 0.07 Tw -2.268 -2.8 Td [(\()19 (i)19 (i)19 (\))]TJ /Span<>> BDC 1.322 0 Td ( )Tj EMC 0.946 0 Td [(E)0.5 (m)0.5 (p)0.5 (l)0.5 (o)0.5 (y)0.5 (e)0.5 (e)0.6 (s)13 ( )0.5 (i)0.5 (n)13 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )0.5 (G)0.5 (r)0.5 (o)0.5 (u)0.5 (p)0.5 (\222)0.6 (s)13 ( )0.5 (s)0.5 (u)0.5 (b)0.5 (s)0.5 (i)0.5 (d)0.5 (i)0.5 (a)0.5 (r)0.5 (i)0.5 (e)0.5 (s)13 ( )0.6 (i)0.5 (n)13 ( )0.5 (M)0.5 (a)0.5 (i)0.5 (n)0.5 (l)0.5 (a)0.5 (n)0.5 (d)13 ( )0.5 (C)0.5 (h)0.5 (i)0.5 (n)0.5 (a)13.1 ( )0.5 (a)0.5 (r)0.5 (e)13 ( )0.5 (r)0.5 (e)0.5 (q)0.6 (ui)0.5 (r)0.6 (e)0.5 (d)13 ( )0.5 (t)0.5 (o)13 ( )0.5 (p)0.5 (a)0.5 (r)0.5 (t)0.5 (i)0.5 (c)0.5 (i)0.5 (p)0.5 (a)0.5 (t)0.6 (e)13 ( )0.5 (i)0.5 (n)13 ( )0.5 (a)13 ( )0.5 (d)0.5 (e)0.5 (f)0.5 (i)0.5 (n)0.6 (e)0.5 (d)19 ( )]TJ 0.027 Tc 0.081 Tw 0 -1.4 Td [(contribution)1.9 ( )0.5 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forfeited)12.3 ( contributions)12.4 ( to)12.4 ( offset)12.4 ( existing)17 ( )]TJ 0.025 Tc 0 Tw 0 -1.4 Td (contributions under the defined contribution scheme.)Tj ET endstreamendobj114 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 12 \226)Tj /T1_1 1 Tf 10 0 0 10 56.6929 728.7079 Tm (5.)Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (NET FINANCE COSTS)Tj -0.025 Tw 35.342 -2.7 Td (2025)Tj /T1_0 1 Tf 8.504 0 Td (2024)Tj /T1_2 1 Tf -10.635 -1.35 Td (RMB\222000)Tj /T1_3 1 Tf 8.672 0 Td (RMB\222000)Tj /T1_0 1 Tf -2.229 -1.35 Td (\(Re-presented\))Tj /T1_1 1 Tf 0 Tw -39.654 -2.7 Td (Continuing operations)Tj /T1_0 1 Tf 0 -1.35 Td (Interest income)Tj /T1_1 1 Tf -0.025 Tw 34.159 0 Td (\(17,139\))Tj /T1_0 1 Tf 9.029 0 Td (\(9,090\))Tj ET 0 0 0 1 K 0.5 w [1.992 1.992]0 d q 1 0 0 1 379.8425 629.7489 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 453.4883 629.5159 Tm ( )Tj ET q 1 0 0 1 464.8818 629.7489 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 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0.081 Tw 0 -2.8 Td [(T)0.5 (he)2 ( )0.5 (g)0.5 (eo)0.5 (g)0.5 (ra)0.5 (ph)0.5 (i)0.5 (ca)0.5 (l)2 ( )0.5 (lo)0.5 (c)0.5 (at)0.5 (i)0.5 (on)2 ( )0.5 (a)0.5 (bo)0.5 (ut)2 ( )0.5 (t)0.5 (he)2 ( )0.5 (G)0.5 (r)0.5 (ou)0.5 (p\222)0.5 (s)2 ( )0.5 (r)0.5 (ev)0.5 (e)0.5 (nu)0.5 (e)2 ( )0.5 (fr)0.5 (o)0.5 (m)1.9 ( )0.5 (e)0.5 (x)0.5 (te)0.5 (r)0.5 (na)0.5 (l)2 ( )0.5 (cu)0.5 (s)0.5 (to)0.5 (me)0.5 (r)0.5 (s)2 ( )0.5 (is)2 ( )0.5 (pr)0.5 (e)0.5 (s)0.5 (en)0.5 (te)0.5 (d)2 ( )0.5 (b)0.5 (as)0.5 (e)0.5 (d)2 ( o)0.5 (n)2 ( )]TJ 0.025 Tc 0 Tw 0 -1.4 Td (the location of the customers.)Tj /T1_1 1 Tf -0.025 Tw 33.075 -2.8 Td (2025)Tj /T1_0 1 Tf 8.504 0 Td (2024)Tj /T1_2 1 Tf -10.635 -1.4 Td (RMB\222000)Tj /T1_3 1 Tf 8.672 0 Td (RMB\222000)Tj /T1_0 1 Tf -2.229 -1.4 Td (\(Re-presented\))Tj 0 Tw -37.387 -2.8 Td (PRC \(including Hong Kong\))Tj /T1_1 1 Tf -0.025 Tw 30.95 0 Td (1,463,014)Tj /T1_0 1 Tf 9.304 0 Td (913,523)Tj -40.254 -1.4 Td (Indonesia)Tj /T1_1 1 Tf 31.75 0 Td (201,378)Tj /T1_0 1 Tf 8.504 0 Td (123,853)Tj -40.254 -1.4 Td (Singapore)Tj /T1_1 1 Tf 31.75 0 Td (147,037)Tj /T1_0 1 Tf 9.029 0 Td (92,846)Tj -40.779 -1.4 Td (Others)Tj /T1_1 1 Tf 32.275 0 Td (27,597)Tj /T1_0 1 Tf 0 Tc 0 Tw 10.879 0 Td (\226)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 379.8425 556.2489 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0.1 0 0 0.1 374.1732 556.0159 Tm ( )Tj ET q 1 0 0 1 464.8818 556.2489 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 556.0159 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 411.5433 529.6989 Tm (1,839,026)Tj /T1_0 1 Tf 8.504 0 Td (1,130,222)Tj ET 1.11 w q 1 0 0 1 379.8425 525.048 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 522.948 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 522.6201 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 525.048 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 522.948 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 522.6201 Tm ( )Tj 0.036 Tc 0.072 Tw 10 0 0 10 102.0472 498.003 Tm [(T)0.5 (h)0.5 (e)11.1 ( )0.5 (b)0.5 (u)0.5 (s)0.5 (i)0.5 (n)0.5 (e)0.6 (s)0.5 (s)11 ( )0.5 (o)0.5 (f)11 ( )0.5 (t)0.5 (h)0.6 (e)11 ( )0.5 (G)0.5 (r)0.5 (o)0.5 (u)0.6 (p)11 ( )0.5 (o)0.5 (p)0.5 (e)0.5 (r)0.6 (a)0.5 (t)0.5 (e)0.5 (s)11 ( )0.5 (i)0.6 (n)11 ( d)0.6 (i)0.5 (f)0.5 (f)0.5 (e)0.6 (r)0.5 (e)0.5 (n)0.5 (t)11 ( )0.5 (g)0.6 (e)0.5 (o)0.5 (g)0.5 (r)0.6 (a)0.5 (p)0.5 (h)0.5 (i)0.5 (c)11 ( )0.5 (a)0.6 (r)0.5 (e)0.5 (a)0.6 (s)0.5 (.)11 ( )0.5 (T)0.5 (h)0.5 (e)11 ( )0.5 (g)0.6 (e)0.5 (o)0.5 (g)0.5 (r)0.5 (a)0.6 (p)0.5 (h)0.5 (i)0.5 (c)0.6 (a)0.5 (l)11 ( )0.5 (l)0.5 (o)0.5 (c)0.6 (a)0.5 (t)0.5 (i)0.5 (o)0.5 (n)11 ( )0.5 (o)0.6 (f)11 ( )0.5 (t)0.5 (h)0.5 (e)11 ( )]TJ 0.025 Tc 0 Tw 0 -1.4 Td (Group\222s non-current assets as follows:)Tj /T1_1 1 Tf -0.025 Tw 33.075 -2.8 Td (2025)Tj /T1_0 1 Tf 8.504 0 Td (2024)Tj /T1_2 1 Tf -10.635 -1.4 Td (RMB\222000)Tj /T1_3 1 Tf 8.672 0 Td (RMB\222000)Tj /T1_0 1 Tf -2.229 -1.4 Td (\(Re-presented\))Tj -37.387 -2.8 Td (Indonesia)Tj /T1_1 1 Tf 30.95 0 Td (4,511,638)Tj /T1_0 1 Tf 8.504 0 Td (2,312,002)Tj 0 Tw -39.454 -1.4 Td (PRC \(including Hong Kong\))Tj /T1_1 1 Tf -0.025 Tw 32.275 0 Td (19,985)Tj /T1_0 1 Tf 7.179 0 Td (1,176,643)Tj ET 0.5 w q 1 0 0 1 379.8425 381.544 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 381.311 Tm ( )Tj ET q 1 0 0 1 464.8818 381.544 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 381.311 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 411.5433 354.994 Tm (4,531,623)Tj /T1_0 1 Tf 8.504 0 Td (3,488,645)Tj ET 1.11 w q 1 0 0 1 379.8425 350.3431 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 348.2431 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 347.9151 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 350.3431 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 348.2431 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 347.9151 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 10 0 0 10 79.3701 323.2981 Tm (\(d\))Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (Information about major customers)Tj /T1_0 1 Tf 0.074 Tw 0 -2.8 Td (During the year, revenue derived from the following customers in coal bu\siness segment with whom )Tj 0 Tw 0 -1.4 Td (transactions have exceeded 10% of the Group\222s revenue are as follows:\)Tj /T1_1 1 Tf -0.025 Tw 33.075 -2.8 Td (2025)Tj /T1_0 1 Tf 8.504 0 Td (2024)Tj /T1_2 1 Tf -10.635 -1.4 Td (RMB\222000)Tj /T1_3 1 Tf 8.672 0 Td (RMB\222000)Tj /T1_0 1 Tf -2.229 -1.4 Td (\(Re-presented\))Tj 0 Tw -37.387 -2.8 Td (Customer A)Tj /T1_1 1 Tf -0.025 Tw 31.75 0 Td (482,205)Tj /T1_0 1 Tf 10.879 0 Td (\226*)Tj 0 Tw -42.629 -1.4 Td (Customer B)Tj /T1_1 1 Tf -0.025 Tw 31.75 0 Td (206,860)Tj /T1_0 1 Tf 10.879 0 Td (\226*)Tj 0 Tw -42.629 -1.4 Td (Customer C)Tj /T1_1 1 Tf -0.025 Tw 34.125 0 Td (\226*)Tj /T1_0 1 Tf 6.129 0 Td (212,471)Tj 0 Tw -40.254 -1.4 Td (Customer D)Tj /T1_1 1 Tf -0.025 Tw 34.125 0 Td (\226*)Tj /T1_0 1 Tf 6.129 0 Td (138,501)Tj 0 Tw -40.254 -1.4 Td (Customer E)Tj /T1_1 1 Tf -0.025 Tw 34.125 0 Td (\226*)Tj /T1_0 1 Tf 6.129 0 Td (117,963)Tj 0 Tw -40.254 -1.4 Td (Customer F)Tj /T1_1 1 Tf -0.025 Tw 34.125 0 Td (\226*)Tj /T1_0 1 Tf 6.129 0 Td (107,836)Tj ET 1.11 w q 1 0 0 1 379.8425 122.6473 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 120.5473 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 120.2193 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 122.6473 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 120.5473 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 120.2193 Tm ( )Tj 0.066 Tc 0.07 Tw 10 0 0 10 102.0472 95.6023 Tm (*)Tj /Span<>> BDC 0.525 0 Td ( )Tj EMC 1.743 0 Td [(R)0.5 (e)0.5 (v)0.5 (e)0.5 (nu)0.5 (e)13 ( )0.5 (f)0.5 (r)0.5 (om)13 ( )0.5 (r)0.5 (e)0.5 (l)0.5 (e)0.5 (v)0.5 (an)0.5 (t)13 ( )0.5 (c)0.5 (u)0.5 (s)0.5 (to)0.5 (m)0.5 (e)0.5 (r)13 ( )0.5 (w)0.5 (a)0.5 (s)12.9 ( )0.5 (l)0.5 (e)0.5 (s)0.5 (s)13 ( )0.5 (th)0.5 (a)0.5 (n)13 ( )0.5 (1)13 (0)12.9 (%)13 ( )0.5 (o)0.5 (f)13 ( )0.5 (t)0.5 (he)13 ( )0.5 (G)0.5 (r)0.5 (o)0.5 (u)0.5 (p\222)0.5 (s)13 ( )0.5 (t)0.5 (o)0.5 (ta)0.5 (l)13 ( )0.5 (r)0.5 (e)0.5 (v)0.5 (en)0.5 (u)0.5 (e)13 ( )0.5 (f)0.5 (o)0.5 (r)12.9 ( )0.5 (t)0.5 (h)0.5 (e)41 ( )]TJ 0.025 Tc 0 Tw 0 -1.4 Td (respective year.)Tj ET endstreamendobj121 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 24.0557 Tm (\226 9 \226)Tj /T1_1 1 Tf 10 0 0 10 79.3701 728.7079 Tm (\(b\))Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (Reconciliations of reportable segment revenue, profit before taxation, a\ssets and liabilities)Tj /T1_2 1 Tf -0.025 Tw 0 -2.5 Td (Revenue)Tj /T1_1 1 Tf 33.075 -2.5 Td (2025)Tj /T1_0 1 Tf 8.504 0 Td (2024)Tj /T1_2 1 Tf -10.635 -1.25 Td (RMB\222000)Tj /T1_3 1 Tf 8.672 0 Td (RMB\222000)Tj /T1_0 1 Tf -2.229 -1.25 Td (\(Re-presented\))Tj 0 Tw -37.387 -2.5 Td (Total of reportable segments revenue)Tj /T1_1 1 Tf -0.025 Tw 30.95 0 Td (3,110,536)Tj /T1_0 1 Tf 8.504 0 Td (4,664,198)Tj 0 Tw -39.454 -1.25 Td (Elimination of inter-segment revenue)Tj /T1_1 1 Tf -0.025 Tw 30.567 0 Td (\(1,271,510\))Tj /T1_0 1 Tf 8.504 0 Td (\(3,533,976\))Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 379.8425 611.7489 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 611.5159 Tm ( )Tj ET q 1 0 0 1 464.8818 611.7489 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 611.5159 Tm ( )Tj 0.025 Tc 10 0 0 10 102.0472 588.1989 Tm (Consolidated revenue)Tj /T1_1 1 Tf -0.025 Tw 30.95 0 Td (1,839,026)Tj /T1_0 1 Tf 8.504 0 Td (1,130,222)Tj ET 1.11 w q 1 0 0 1 379.8425 583.548 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 581.448 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 581.1201 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 583.548 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 581.448 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 581.1201 Tm ( )Tj /T1_2 1 Tf 0.025 Tc 10 0 0 10 102.0472 559.5031 Tm (Profit before taxation)Tj /T1_1 1 Tf -0.025 Tw 33.075 -2.5 Td (2025)Tj /T1_0 1 Tf 8.504 0 Td (2024)Tj /T1_2 1 Tf -10.635 -1.25 Td (RMB\222000)Tj /T1_3 1 Tf 8.672 0 Td (RMB\222000)Tj /T1_0 1 Tf -2.229 -1.25 Td (\(Re-presented\))Tj 0 Tw -37.387 -2.5 Td (Total of reportable segments profit before taxation)Tj /T1_1 1 Tf -0.025 Tw 31.75 0 Td (331,657)Tj /T1_0 1 Tf 8.504 0 Td (232,095)Tj 0 Tw -40.254 -1.25 Td (Unallocated head office and corporate expenses)Tj /T1_1 1 Tf -0.025 Tw 31.367 0 Td (\(127,104\))Tj /T1_0 1 Tf 8.504 0 Td (\(102,879\))Tj 0 Tw -39.871 -1.25 Td (Net finance costs)Tj /T1_1 1 Tf -0.025 Tw 31.892 0 Td (\(74,083\))Tj /T1_0 1 Tf 8.504 0 Td (\(11,618\))Tj ET 0.5 w q 1 0 0 1 379.8425 455.044 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 454.811 Tm ( )Tj ET q 1 0 0 1 464.8818 455.044 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 454.811 Tm ( )Tj 0.025 Tc 10 0 0 10 102.0472 431.494 Tm (Consolidated profit before taxation)Tj /T1_1 1 Tf -0.025 Tw 31.75 0 Td (130,470)Tj /T1_0 1 Tf 8.504 0 Td (117,598)Tj ET 1.11 w q 1 0 0 1 379.8425 426.8432 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 424.7432 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 424.4152 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 426.8432 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 424.7432 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 424.4152 Tm ( )Tj /T1_2 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 102.0472 402.7982 Tm (Assets)Tj /T1_1 1 Tf 33.075 -2.5 Td (2025)Tj /T1_0 1 Tf 8.504 0 Td (2024)Tj /T1_2 1 Tf -10.635 -1.25 Td (RMB\222000)Tj /T1_3 1 Tf 8.672 0 Td (RMB\222000)Tj /T1_0 1 Tf -2.229 -1.25 Td (\(Re-presented\))Tj 0 Tw -37.387 -2.5 Td (Total of reportable segments assets)Tj /T1_1 1 Tf -0.025 Tw 30.425 0 Td (10,819,834)Tj /T1_0 1 Tf 9.029 0 Td (4,749,499)Tj 0 Tw -39.454 -1.25 Td (Elimination of receivables from corporate headquarters)Tj /T1_1 1 Tf -0.025 Tw 30.567 0 Td (\(4,407,942\))Tj /T1_0 1 Tf 9.304 0 Td (\(335,866\))Tj 0 Tw -39.871 -1.25 Td (Assets related to discontinued operation disposed in 2025)Tj /T1_1 1 Tf 0 Tc 34.65 0 Td (\226)Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 4.804 0 Td (3,781,206)Tj 0 Tw -39.454 -1.3 Td (Deferred taxation)Tj /T1_1 1 Tf 0 Tc 34.65 0 Td (\226)Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 7.454 0 Td (353)Tj 0 Tw -42.104 -1.25 Td (Unallocated assets)Tj /T1_1 1 Tf -0.025 Tw 31.75 0 Td (242,754)Tj /T1_0 1 Tf 8.504 0 Td (434,137)Tj ET 0.5 w q 1 0 0 1 379.8425 272.8391 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 272.6061 Tm ( )Tj ET q 1 0 0 1 464.8818 272.8391 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 272.6061 Tm ( )Tj 0.025 Tc 10 0 0 10 102.0472 249.2892 Tm (Consolidated total assets)Tj /T1_1 1 Tf -0.025 Tw 30.95 0 Td (6,654,646)Tj /T1_0 1 Tf 8.504 0 Td (8,629,329)Tj ET 1.11 w q 1 0 0 1 379.8425 244.6383 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 242.5383 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 242.2103 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 244.6383 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 242.5383 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 242.2103 Tm ( )Tj /T1_2 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 102.0472 220.5933 Tm (Liabilities)Tj /T1_1 1 Tf 33.075 -2.5 Td (2025)Tj /T1_0 1 Tf 8.504 0 Td (2024)Tj /T1_2 1 Tf -10.635 -1.25 Td (RMB\222000)Tj /T1_3 1 Tf 8.672 0 Td (RMB\222000)Tj /T1_0 1 Tf -2.229 -1.25 Td (\(Re-presented\))Tj 0 Tw -37.387 -2.5 Td (Total of reportable segments liabilities)Tj /T1_1 1 Tf -0.025 Tw 30.95 0 Td (4,468,513)Tj /T1_0 1 Tf 8.504 0 Td (3,430,021)Tj 0 Tw -39.454 -1.25 Td (Elimination of payables to corporate headquarters)Tj /T1_1 1 Tf -0.025 Tw 30.567 0 Td (\(1,065,394\))Tj /T1_0 1 Tf 8.504 0 Td (\(2,371,730\))Tj 0 Tw -39.071 -1.25 Td (Liabilities related to discontinued operation disposed in 2025)Tj /T1_1 1 Tf 0 Tc 34.65 0 Td (\226)Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 4.804 0 Td (3,537,208)Tj 0 Tw -39.454 -1.25 Td (Tax payable)Tj /T1_1 1 Tf -0.025 Tw 32.8 0 Td (4,610)Tj /T1_0 1 Tf 7.979 0 Td (18,680)Tj 0 Tw -40.779 -1.25 Td (Deferred taxation)Tj /T1_1 1 Tf -0.025 Tw 34.125 0 Td (52)Tj /T1_0 1 Tf 0 Tc 0 Tw 9.029 0 Td (\226)Tj 0.025 Tc -43.154 -1.25 Td (Unallocated liabilities)Tj /T1_1 1 Tf -0.025 Tw 31.75 0 Td (552,924)Tj /T1_0 1 Tf 8.504 0 Td (528,905)Tj ET 0.5 w q 1 0 0 1 379.8425 78.6343 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 78.4013 Tm ( )Tj ET q 1 0 0 1 464.8818 78.6343 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 78.4013 Tm ( )Tj 0.025 Tc 10 0 0 10 102.0472 55.0842 Tm (Consolidated total liabilities)Tj /T1_1 1 Tf -0.025 Tw 30.95 0 Td (3,960,705)Tj /T1_0 1 Tf 8.504 0 Td (5,143,084)Tj ET 1.11 w q 1 0 0 1 379.8425 50.4334 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 48.3334 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 48.0054 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 50.4334 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 48.3334 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 48.0054 Tm ( )Tj ET endstreamendobj120 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 24.0557 Tm (\226 8 \226)Tj 0.032 Tc 0.076 Tw 10 0 0 10 102.0472 728.7079 Tm [(For)7 ( )0.5 (the)7 ( )0.5 (purposes)7 ( )0.5 (of)7 ( )0.5 (assessing)7 ( )0.5 (segment)7 ( )0.5 (performance)7 ( )0.5 (and)7 ( )0.5 (allocating)7 ( )0.5 (resources)7 ( )0.5 (between)7 ( )0.5 (segments,)7 ( )0.5 (the)7 ( )]TJ 0.025 Tc 0.028 Tw 0 -1.4 Td (CEO monitors the results, assets and liabilities attributable to the rep\ortable segment on the following )Tj -0.025 Tw 0 -1.4 Td (basis:)Tj 0.039 Tc 0.07 Tw 0 -2.8 Td (\227)Tj /Span<>> BDC 1.025 0 Td ( )Tj EMC 1.243 0 Td [(The)12.5 ( measure)12.5 ( used)12.5 ( for)12.5 ( reporting)12.5 ( segment)12.5 ( profit)12.5 ( is)12.5 ( adjusted)12.5 ( profit)12.5 ( before)12.5 ( net)12.5 ( finance)12.5 ( costs)12.5 ( and)14 ( )]TJ 0.024 Tc 0 Tw 0 -1.4 Td [(income tax expense items not specifically attributable to individual seg\ments, such as unallocated)-1 ( )]TJ 0.025 Tc 0 -1.4 Td (head office and corporate expenses are further adjusted.)Tj 0.026 Tc 0.082 Tw -2.268 -2.8 Td (\227)Tj /Span<>> BDC 1.025 0 Td ( )Tj EMC 1.243 0 Td [(S)0.5 (e)0.6 (g)0.5 (m)0.5 (e)0.6 (n)0.5 (t)1 ( )0.5 (a)0.6 (s)0.5 (s)0.6 (e)0.5 (t)0.5 (s)1 ( )0.5 (i)0.6 (n)0.5 (c)0.6 (l)0.5 (u)0.5 (d)0.6 (e)1 ( )0.5 (a)0.5 (l)0.5 (l)1 ( )0.6 (t)0.5 (a)0.5 (n)0.6 (g)0.5 (i)0.5 (b)0.6 (l)0.5 (e)1 ( )0.5 (a)0.6 (s)0.5 (s)0.5 (e)0.6 (t)0.5 (s)0.6 (,)1 ( )0.5 (c)0.5 (o)0.5 (a)0.6 (l)1 ( )0.5 (m)0.5 (i)0.6 (n)0.5 (i)0.5 (n)0.6 (g)0.9 ( )0.6 (r)0.5 (i)0.5 (g)0.6 (h)0.5 (t)0.5 (s)0.6 (,)1 ( )0.5 (r)0.5 (i)0.5 (g)0.6 (h)0.5 (t)0.5 (-)0.6 (o)0.5 (f)0.6 (-)0.5 (u)0.5 (s)0.6 (e)1 ( )0.5 (a)0.5 (s)0.6 (s)0.5 (e)0.6 (t)0.5 (s)0.5 (,)1 ( )0.5 (i)0.6 (n)0.5 (t)0.5 (e)0.6 (r)0.5 (e)0.6 (s)0.5 (t)1 ( )0.5 (i)0.5 (n)1 ( )0.5 (a)0.6 (n)1 ( )]TJ 0.064 Tc 0.07 Tw 0 -1.4 Td [(associate)12.2 ( and)12.2 ( current)12.2 ( assets)12.2 ( with)12.2 ( the)12.2 ( exception)12.2 ( of)12.2 ( unallocated)12.2 ( corporate)12.1 ( assets.)12.2 ( Segment)38.9 ( )]TJ 0.053 Tc 0 -1.4 Td [(liabilities)12.5 ( include)12.5 ( trade)12.6 ( payables,)12.5 ( other)12.6 ( payables)12.5 ( attributable)12.5 ( to)12.5 ( activities)12.5 ( of)12.6 ( the)12.6 ( individual)28 ( )]TJ 0.025 Tc 0 Tw 0 -1.4 Td (segments, accrued reclamation obligations and borrowings managed directl\y by the segment.)Tj 0.065 Tc 0.07 Tw -2.268 -2.8 Td (\227)Tj /Span<>> BDC 1.025 0 Td ( )Tj EMC 1.243 0 Td [(R)0.5 (e)0.5 (ve)0.5 (n)0.5 (u)0.5 (e)12.9 ( )0.5 (a)0.5 (n)0.5 (d)12.9 ( )0.5 (e)0.5 (x)0.5 (pe)0.5 (n)0.5 (s)0.5 (es)13 ( )0.5 (a)0.5 (r)0.5 (e)13 ( a)0.5 (l)0.5 (lo)0.5 (c)0.5 (a)0.5 (t)0.5 (ed)13 ( )0.5 (t)0.5 (o)12.9 ( )0.5 (t)0.5 (he)13 ( )0.5 (r)0.5 (e)0.5 (po)0.5 (r)0.5 (ta)0.5 (b)0.5 (l)0.5 (e)13 ( s)0.5 (e)0.5 (g)0.5 (me)0.5 (n)0.5 (t)13 ( w)0.5 (i)0.5 (t)0.5 (h)12.9 ( )0.5 (r)0.5 (e)0.5 (fe)0.5 (r)0.5 (e)0.5 (nc)0.5 (e)13 ( )0.5 (t)0.5 (o)12.9 ( )0.5 (r)0.5 (e)0.5 (ve)0.5 (n)0.5 (u)0.5 (e)40 ( )]TJ 0.025 Tc 0 Tw 0 -1.4 Td (generated by the segment and the expenses incurred by the segment.)Tj 0.048 Tc 0.07 Tw -2.268 -2.8 Td [(An)12.3 ( operating)12.3 ( segment)12.3 ( regarding)12.3 ( the)12.3 ( coal)12.3 ( mining)12.3 ( business)12.3 ( in)12.3 ( PRC)12.3 ( was)12.3 ( classified)12.3 ( as)12.2 ( discontinued)23 ( )]TJ 0.025 Tc 0.035 Tw 0 -1.4 Td (operations in the current year. The segment information about profit or \loss reported on the following )Tj 0.002 Tw 0 -1.4 Td (does not include any amounts for these discontinued operations, which ar\e described in more details in )Tj 0 Tw 0 -1.4 Td (note 16.)Tj /T1_1 1 Tf 32.663 -2.8 Td (Coal business)Tj -0.025 Tw 0.412 -1.4 Td (2025)Tj /T1_0 1 Tf 8.504 0 Td (2024)Tj /T1_2 1 Tf -10.635 -1.4 Td (RMB\222000)Tj /T1_3 1 Tf 8.672 0 Td (RMB\222000)Tj /T1_0 1 Tf -2.229 -1.4 Td (\(Re-presented\))Tj 0 Tw -37.387 -2.8 Td (Revenue from external customers)Tj /T1_1 1 Tf -0.025 Tw 30.95 0 Td (3,110,536)Tj /T1_0 1 Tf 8.504 0 Td (4,664,198)Tj 0 Tw -39.454 -1.4 Td (Inter-segment revenue)Tj /T1_1 1 Tf -0.025 Tw 30.567 0 Td (\(1,271,510\))Tj /T1_0 1 Tf 8.504 0 Td (\(3,533,976\))Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 379.8425 346.2489 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 346.0159 Tm ( )Tj ET q 1 0 0 1 464.8818 346.2489 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 346.0159 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 10 0 0 10 102.0472 319.6989 Tm (Reportable segment revenue)Tj -0.025 Tw 30.95 0 Td (1,839,026)Tj /T1_0 1 Tf 8.504 0 Td (1,130,222)Tj ET 1.11 w q 1 0 0 1 379.8425 315.048 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 312.948 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 312.62 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 315.048 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 312.948 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 312.62 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 10 0 0 10 102.0472 286.303 Tm (Reportable segment profit before taxation)Tj -0.025 Tw 31.75 0 Td (331,657)Tj /T1_0 1 Tf 8.504 0 Td (232,095)Tj 0 Tw -40.254 -2.8 Td (Depreciation and amortisation)Tj /T1_1 1 Tf -0.025 Tw 31.367 0 Td (\(192,932\))Tj /T1_0 1 Tf 8.504 0 Td (\(109,372\))Tj 0 Tw -39.871 -2.8 Td (Net gain on disposal of property, plant and equipment)Tj /T1_1 1 Tf 0 Tc 34.65 0 Td (\226)Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 7.979 0 Td (40)Tj 0 Tw -42.629 -1.4 Td (Reversal of impairment losses/\(impairment losses\) on )Tj 0 Tc ( )Tj 0.025 Tc 1.001 -1.4 Td (other receivables, net)Tj /T1_1 1 Tf -0.025 Tw 31.799 0 Td (1,793)Tj /T1_0 1 Tf 8.921 0 Td (\(929\))Tj 0 Tw -41.721 -1.4 Td (Additions to property, plant and equipment)Tj /T1_1 1 Tf -0.025 Tw 30.95 0 Td (1,583,064)Tj /T1_0 1 Tf 9.304 0 Td (735,229)Tj /T1_1 1 Tf 0 Tw -40.254 -2.8 Td (Reportable segment assets)Tj -0.025 Tw 30.425 0 Td (10,819,834)Tj /T1_0 1 Tf 9.029 0 Td (4,749,499)Tj /T1_1 1 Tf 0 Tw -39.454 -1.4 Td (Reportable segment liabilities)Tj -0.025 Tw 30.567 0 Td (\(4,468,513\))Tj /T1_0 1 Tf 8.504 0 Td (\(3,430,021\))Tj ET 1.11 w q 1 0 0 1 379.8424 141.6522 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8424 139.5522 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1731 139.2242 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 141.6522 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 139.5522 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2125 139.2242 Tm ( )Tj ET endstreamendobj119 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 24.0557 Tm (\226 7 \226)Tj /T1_1 1 Tf -19.029 58.583 Td (NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS)Tj /T1_2 1 Tf 0 -1.333 Td (For the year ended 31 December 2025)Tj /T1_1 1 Tf 1.193 Tw 10 0 0 10 56.6929 681.0479 Tm (1.)Tj /Span<>> BDC ( )Tj EMC (GENERAL)Tj /T1_0 1 Tf 0.026 Tw 2.268 -2.8 Td (China Qinfa Group Limited \(the \223)Tj /T1_1 1 Tf -0.025 Tw (Company)Tj /T1_0 1 Tf 0.026 Tw (\224\) was incorporated in the Cayman Islands on 4 March 2008 as )Tj 0.041 Tc 0.07 Tw 0 -1.4 Td [(an)12.4 ( exempted)12.4 ( company)12.4 ( with)12.4 ( limited)12.4 ( liability)12.4 ( under)12.5 ( the)12.4 ( Companies)12.4 ( Law,)12.4 ( Cap.)12.4 ( 2)12.4 (2)12.4 ( \()12.4 (2)12.4 (0)12.4 (0)12.4 (7)12.4 ( Revision\))12.4 ( of)12.4 ( the)16 ( )]TJ 0.025 Tc 0.056 Tw 0 -1.4 Td (Cayman Islands. The directors of the Company consider the immediate and \ultimate holding companies of )Tj 0.04 Tc 0.07 Tw 0 -1.4 Td [(the)12.2 ( Group)12.2 ( to)12.2 ( be)12.3 ( Fortune)12.3 ( Pearl)12.2 ( International)12.3 ( Limited)12.3 ( \(\223)]TJ /T1_1 1 Tf [(Fortune)12.3 ( Pearl)]TJ /T1_0 1 Tf [(\224\),)12.3 ( a)12.2 ( company)12.2 ( incorporated)12.2 ( in)12.3 ( the)15 ( )]TJ 0.037 Tc 0.071 Tw 0 -1.4 Td [(B)0.5 (r)0.5 (i)0.5 (ti)0.5 (s)0.5 (h)12 ( )0.5 (V)0.5 (i)0.5 (r)0.5 (gi)0.5 (n)12 ( )0.5 (I)0.5 (s)0.5 (l)0.5 (a)0.5 (nd)0.5 (s)12 ( )0.5 (a)0.5 (n)0.5 (d)12 ( )0.5 (t)0.5 (h)0.5 (e)12 ( )0.5 (u)0.5 (lt)0.5 (i)0.5 (m)0.5 (a)0.5 (te)12.1 ( )0.5 (c)0.5 (on)0.5 (t)0.5 (r)0.5 (ol)0.5 (l)0.5 (i)0.5 (n)0.5 (g)12 ( )0.5 (s)0.5 (ha)0.5 (r)0.5 (e)0.5 (h)0.5 (o)0.5 (l)0.5 (de)0.5 (r)12 ( )0.5 (t)0.5 (o)12 ( )0.5 (b)0.5 (e)12 ( )0.5 (M)0.5 (r)0.5 (.)12 ( )0.5 (X)0.5 (u)12 ( )0.5 (J)0.5 (i)0.5 (hu)0.5 (a)12 ( )0.5 (\()0.5 (\223)]TJ /T1_1 1 Tf 37.596 0 Td [(M)0.5 (r)0.5 (.)12 ( )0.5 (X)0.5 (u)]TJ /T1_0 1 Tf 3.445 0 Td [(\224)0.5 (\))0.5 (,)12 ( )0.5 (t)0.5 (he)12.1 ( )0.5 (so)0.5 (l)0.5 (e)12 ( )]TJ 0.025 Tc 0.02 Tw -41.041 -1.4 Td (shareholder of Fortune Pearl. The Company\222s shares were listed on the\ Main Board of The Stock Exchange )Tj 0.036 Tc 0.072 Tw 0 -1.4 Td [(of)11 ( )0.5 (H)0.5 (on)0.5 (g)11 ( )0.5 (Kon)0.5 (g)11 ( )0.5 (Li)0.5 (mit)0.5 (ed)11 ( )0.5 (\()0.5 (the)11 ( )0.5 (\223)]TJ /T1_1 1 Tf 12.96 0 Td [(St)0.5 (oc)0.5 (k)11 ( )0.5 (Exc)0.5 (ha)0.5 (nge)]TJ /T1_0 1 Tf 7.365 0 Td [(\224)0.5 (\))11 ( w)0.5 (it)0.5 (h)11 ( )0.5 (ef)0.5 (fe)0.5 (ct)11 ( )0.5 (f)0.5 (rom)11 ( )0.5 (3)11 ( )0.5 (J)0.5 (ul)0.5 (y)10.9 ( )0.6 (2)10.9 (0)11 (0)11 (9)11 ( )0.5 (\()0.5 (th)0.5 (e)11 ( \223)]TJ /T1_1 1 Tf 16.751 0 Td [(Li)0.5 (st)0.5 (ing)11 ( )0.5 (D)0.5 (at)0.5 (e)]TJ /T1_0 1 Tf [(\224)0.5 (\).)11 ( )0.5 (T)0.5 (he)11 ( )]TJ -37.077 -1.4 Td [(a)0.5 (d)0.6 (d)0.5 (r)0.5 (e)0.5 (s)0.5 (s)11 ( )0.5 (o)0.6 (f)11 ( )0.5 (i)0.5 (t)0.5 (s)11 ( )0.5 (r)0.5 (e)0.6 (g)0.5 (i)0.5 (s)0.5 (t)0.5 (e)0.6 (r)0.5 (e)0.5 (d)11 ( )0.5 (o)0.5 (f)0.5 (f)0.6 (i)0.5 (c)0.5 (e)11 ( )0.5 (i)0.5 (s)11 ( )0.5 (C)0.6 (r)0.5 (i)0.5 (c)0.5 (k)0.6 (e)0.5 (t)11 ( )0.5 (S)0.5 (q)0.5 (u)0.5 (a)0.6 (r)0.5 (e)0.5 (,)11 ( )0.5 (H)0.5 (u)0.6 (t)0.5 (c)0.5 (h)0.5 (i)0.5 (n)0.5 (s)11.1 ( )0.5 (D)0.5 (r)0.5 (i)0.5 (v)0.5 (e)0.6 (,)11 ( )0.5 (P)0.5 (.)0.5 (O)0.5 (.)11 ( )0.5 (B)0.5 (o)0.6 (x)11 ( )0.5 (2)11 (6)11 (8)10.9 (1)11 (,)11 ( )0.5 (G)0.6 (r)0.5 (a)0.5 (n)0.5 (d)11 ( )0.5 (C)0.6 (a)0.5 (y)0.5 (m)0.5 (a)0.6 (n)11 ( )0.5 (K)0.5 (Y)11 (1)11 (\226)]TJ 0.025 Tc 0.036 Tw 0 -1.4 Td (1111, Cayman Islands and the principal place of business of the Company \is Unit Nos. 2201 to 2208, level )Tj 0.029 Tc 0.079 Tw 0 -1.4 Td [(2)4 (2)4 (,)4 ( )0.5 (S)0.5 (o)0.6 (u)0.5 (t)0.5 (h)4 ( )0.5 (T)0.6 (o)0.5 (w)0.5 (e)0.6 (r)0.5 (,)4 ( )0.5 (P)0.6 (o)0.5 (l)0.5 (y)4 ( )0.5 (I)0.5 (n)0.6 (t)0.5 (e)0.5 (r)0.6 (n)0.5 (a)0.5 (t)0.6 (i)0.5 (o)0.5 (n)0.5 (a)0.6 (l)4 ( )0.5 (P)0.5 (l)0.5 (a)0.6 (z)0.5 (a)0.6 (,)4 ( )0.5 (N)0.5 (o)0.5 (.)4 ( )0.5 (1)4 ( )0.6 (P)0.5 (a)0.5 (z)0.6 (h)0.5 (o)0.5 (u)4 ( )0.5 (A)0.6 (v)0.5 (e)0.5 (n)0.6 (u)0.5 (e)4 ( )0.5 (E)0.5 (a)0.6 (s)0.5 (t)0.5 (,)4 ( )0.5 (H)0.6 (a)0.5 (i)0.6 (z)0.5 (h)0.5 (u)4 ( )0.5 (D)0.6 (i)0.5 (s)0.5 (t)0.5 (r)0.6 (i)0.5 (c)0.5 (t)0.6 (,)4 ( )0.5 (G)0.5 (u)0.6 (a)0.5 (n)0.5 (g)0.6 (z)0.5 (h)0.5 (o)0.6 (u)3.9 ( )0.5 (C)0.6 (i)0.5 (t)0.5 (y)0.6 (,)4 ( )]TJ 0.025 Tc 0 Tw 0 -1.4 Td (the People\222s Republic of China \(the \223)Tj /T1_1 1 Tf -0.025 Tw (PRC)Tj /T1_0 1 Tf (\224\).)Tj 0.047 Tc 0.07 Tw 0 -2.8 Td [(The)12.2 ( principal)12.2 ( activities)12.2 ( of)12.1 ( the)12.1 ( Company)12.1 ( and)12.1 ( its)12.1 ( subsidiaries)12.2 ( \(together,)12.1 ( the)12.1 ( \223)]TJ /T1_1 1 Tf -0.047 Tw (Group)Tj /T1_0 1 Tf 0.07 Tw [(\224\))12.1 ( are)12.2 ( coal)12.2 ( mining,)21.9 ( )]TJ 0.024 Tc 0 Tw 0 -1.4 Td [(pur)0.5 (chase)0.5 (s and)0.5 ( sale)0.5 (s, fil)0.5 (teri)0.5 (ng, stor)0.5 (age )0.5 (and bl)0.5 (ending )0.5 (of co)0.5 (al in )0.5 (Indone)0.5 (sia, )0.5 (subse)0.5 (quentl)0.5 (y to the)0.5 ( ver)0.5 (y subs)0.5 (tantia)0.5 (l)-1 ( )]TJ 0.025 Tc 0 -1.4 Td (disposal transaction as detailed in note 16.)Tj 0.014 Tw 0 -2.8 Td (The Company\222s functional currency is Hong Kong dollars \(\223)Tj /T1_1 1 Tf -0.025 Tw (HKD)Tj /T1_0 1 Tf 0.014 Tw (\224\). 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As at the end of the repo\rting period, substantially all )Tj 0.07 Tw 0 -1.4 Td (of the non-current assets of the Group were located in Indonesia. 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( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.6928 120.7405 Tm (Net current assets/\(liabilities\))Tj -0.025 Tw 29.671 0 Td (281,327)Tj /T1_0 1 Tf 5.904 0 Td (\(2,094,948\))Tj ET [1.992 1.992]0 d q 1 0 0 1 379.8424 116.1059 cm 0 0 m 73.701 0 l S Q []0 d q 1 0 0 1 379.8424 114.1886 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 114.4556 Tm ( )Tj ET [1.992 1.992]0 d q 1 0 0 1 464.8818 116.1059 cm 0 0 m 73.701 0 l S Q []0 d q 1 0 0 1 464.8818 114.1886 cm 0 0 m 73.701 0 l S Q BT 0.1 0 0 0.1 459.2125 114.4556 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6928 84.4786 Tm (Total assets less current liabilities)Tj -0.025 Tw 28.871 0 Td (4,812,950)Tj /T1_0 1 Tf 7.087 0 Td (4,458,797)Tj ET [1.992 1.992]0 d q 1 0 0 1 379.8424 79.6796 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 79.4466 Tm ( )Tj ET q 1 0 0 1 464.8818 79.6796 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2125 79.4466 Tm ( )Tj ET endstreamendobj130 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs 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453.5433 594.5158 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 12 0 0 12 402.4781 565.5388 Tm (\(211,407\))Tj /T1_0 1 Tf 7.942 0 Td (529,732)Tj ET q 1 0 0 1 368.5039 560.7397 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 362.8346 560.5067 Tm ( )Tj ET q 1 0 0 1 459.2126 560.7397 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 453.5433 560.5067 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.6929 531.5297 Tm (Total comprehensive \(loss\)/income for the year )Tj 0.999 -1.292 Td (attributable to non-controlling interests:)Tj /T1_0 1 Tf 0.002 -1.292 Td (\227 from continuing operations)Tj /T1_1 1 Tf -0.025 Tw 28.339 0 Td (\(32,099\))Tj /T1_0 1 Tf 8.084 0 Td (\(7,950\))Tj 0 Tw -36.423 -1.292 Td (\227 from discontinued operations)Tj /T1_1 1 Tf -0.025 Tw 28.339 0 Td (\(48,415\))Tj /T1_0 1 Tf 7.942 0 Td (62,376 )Tj ET q 1 0 0 1 368.5039 480.2307 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 362.8346 479.9977 Tm ( )Tj ET q 1 0 0 1 459.2126 480.2307 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 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)Tj 0 -1.292 Td (the year)Tj /T1_2 1 Tf 0 Tc 22.491 0 Td (8)Tj /T1_1 1 Tf 0.025 Tc -23.49 -2.583 Td (From continuing and discontinued operations)Tj /T1_0 1 Tf 0 -2.583 Td (Basic \(loss\)/earnings per share)Tj /T1_1 1 Tf 10.8 0 0 12 366.7131 287.6158 Tm (RMB\(3.91\) cents)Tj /T1_0 1 Tf 8.811 0 Td (RMB19.91 cents)Tj ET 1.11 w q 1 0 0 1 368.5039 282.6249 cm 0 0 m 79.37 0 l S Q 0.45 w q 1 0 0 1 368.5039 280.5249 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0.09 0 0 0.1 362.8346 280.1969 Tm ( )Tj ET 1.11 w q 1 0 0 1 459.2126 282.6249 cm 0 0 m 79.37 0 l S Q 0.45 w q 1 0 0 1 459.2126 280.5249 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 0.09 0 0 0.1 453.5433 280.1969 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6929 251.2199 Tm (Diluted \(loss\)/earnings per share)Tj /T1_1 1 Tf 10.8 0 0 12 366.7132 251.2199 Tm (RMB\(3.91\) cents)Tj /T1_0 1 Tf 8.811 0 Td (RMB19.08 cents)Tj ET 1.11 w q 1 0 0 1 368.5039 246.2291 cm 0 0 m 79.37 0 l S Q 0.45 w q 1 0 0 1 368.5039 244.1291 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0.09 0 0 0.1 362.8346 243.8011 Tm ( )Tj ET 1.11 w q 1 0 0 1 459.2126 246.2291 cm 0 0 m 79.37 0 l S Q 0.45 w q 1 0 0 1 459.2126 244.1291 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 0.09 0 0 0.1 453.5433 243.8011 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.6929 214.8241 Tm (From continuing operations)Tj /T1_0 1 Tf 0 -2.583 Td (Basic earnings per share)Tj /T1_1 1 Tf 11.4 0 0 12 370.3665 183.8241 Tm (RMB2.84 cents)Tj /T1_0 1 Tf 8.178 0 Td (RMB3.36 cents)Tj ET 1.11 w q 1 0 0 1 368.5039 178.8333 cm 0 0 m 79.37 0 l S Q 0.45 w q 1 0 0 1 368.5039 176.7333 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0.095 0 0 0.1 362.8346 176.4053 Tm ( )Tj ET 1.11 w q 1 0 0 1 459.2126 178.8333 cm 0 0 m 79.37 0 l S Q 0.45 w q 1 0 0 1 459.2126 176.7333 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 0.095 0 0 0.1 453.5433 176.4053 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6929 147.4283 Tm (Diluted earnings per share)Tj /T1_1 1 Tf 11.4 0 0 12 370.3665 147.4283 Tm (RMB2.84 cents)Tj /T1_0 1 Tf 8.178 0 Td (RMB3.34 cents)Tj ET 1.11 w q 1 0 0 1 368.5039 142.4375 cm 0 0 m 79.37 0 l S Q 0.45 w q 1 0 0 1 368.5039 140.3374 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0.09 0 0 0.1 362.8346 140.0094 Tm ( )Tj ET 1.11 w q 1 0 0 1 459.2126 142.4375 cm 0 0 m 79.37 0 l S Q 0.45 w q 1 0 0 1 459.2126 140.3374 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 0.09 0 0 0.1 453.5433 140.0094 Tm ( )Tj ET endstreamendobj129 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 24.0557 Tm (\226 3 \226)Tj /T1_1 1 Tf -0.025 Tw 11.495 58.291 Td (2025)Tj /T1_0 1 Tf 7.559 0 Td (2024)Tj /T1_2 1 Tf -15.531 -1.292 Td (Notes)Tj /T1_3 1 Tf 5.841 0 Td (RMB\222000)Tj /T1_2 1 Tf 7.727 0 Td (RMB\222000)Tj /T1_0 1 Tf -2.229 -1.292 Td (\(Re-presented\))Tj /T1_1 1 Tf 0 Tw -33.891 -2.583 Td (DISCONTINUED OPERATIONS)Tj 0 -1.292 Td (\(Loss\)/profit after taxation from the )Tj 0.999 -1.292 Td (discontinued operations)Tj /T1_2 1 Tf -0.025 Tw 22.228 0 Td (16)Tj /T1_1 1 Tf 5.588 0 Td (\(219,601\))Tj /T1_0 1 Tf 7.942 0 Td (475,088)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 368.5039 625.7488 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 12 0 0 12 441.274 627.5388 Tm ( )Tj ET q 1 0 0 1 459.2126 625.7488 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 12 0 0 12 531.9827 627.5388 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -39.607 -2.583 Td (\(Loss\)/profit for the year)Tj -0.025 Tw 29.34 0 Td (\(94,997\))Tj /T1_0 1 Tf 7.417 0 Td (556,370)Tj /T1_1 1 Tf 0 Tw -36.757 -2.583 Td (Other comprehensive \(loss\)/income)Tj /T1_0 1 Tf 0 -1.292 Td (Items that may be reclassified subsequently to )Tj 0.999 -1.292 Td (profit or loss:)Tj -0.999 -1.292 Td (Foreign currency translation differences for foreign )Tj -0.025 Tw 0.999 -1.292 Td (operations)Tj /T1_1 1 Tf 27.816 0 Td (\(198,169\))Tj /T1_0 1 Tf 8.467 0 Td (28,354)Tj 0 Tw -37.282 -1.292 Td (Remeasurements of net defined benefit obligations)Tj /T1_1 1 Tf -0.025 Tw 30.248 0 Td (1,245)Tj /T1_0 1 Tf 7.976 0 Td (\(566\))Tj ET q 1 0 0 1 368.5039 483.2397 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 12 0 0 12 441.274 485.0297 Tm ( )Tj ET q 1 0 0 1 459.2126 483.2397 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 12 0 0 12 531.9827 485.0297 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -39.607 -2.656 Td (Other comprehensive \(loss\)/income for the year, )Tj 0.999 -1.292 Td (net of tax)Tj -0.025 Tw 27.816 0 Td (\(196,924\))Tj /T1_0 1 Tf 8.467 0 Td (27,788)Tj ET [2.035 2.035]0 d q 1 0 0 1 368.5039 433.0222 cm 0 0 m 79.37 0 l S Q []0 d q 1 0 0 1 368.5039 431.1049 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 12 0 0 12 441.274 433.3949 Tm ( )Tj ET [2.035 2.035]0 d q 1 0 0 1 459.2126 433.0222 cm 0 0 m 79.37 0 l S Q []0 d q 1 0 0 1 459.2126 431.1049 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 12 0 0 12 531.9827 433.3949 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -39.607 -2.583 Td (Total comprehensive \(loss\)/income for the year)Tj -0.025 Tw 28.815 0 Td (\(291,921\))Tj /T1_0 1 Tf 7.942 0 Td (584,158)Tj ET 1.11 w q 1 0 0 1 368.5039 397.4041 cm 0 0 m 79.37 0 l S Q 0.45 w q 1 0 0 1 368.5039 395.3041 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 12 0 0 12 441.274 396.9991 Tm ( )Tj ET 1.11 w q 1 0 0 1 459.2126 397.4041 cm 0 0 m 79.37 0 l S Q 0.45 w q 1 0 0 1 459.2126 395.3041 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 12 0 0 12 531.9827 396.9991 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -39.607 -2.583 Td (\(Loss\)/profit for the year attributable to equity )Tj 0.999 -1.292 Td (shareholders of the Company:)Tj /T1_0 1 Tf 0.002 -1.292 Td (\227 from continuing operations)Tj /T1_1 1 Tf -0.025 Tw 28.722 0 Td (77,328)Tj /T1_0 1 Tf 7.559 0 Td (89,232)Tj 0 Tw -36.281 -1.292 Td (\227 from discontinued operations)Tj /T1_1 1 Tf -0.025 Tw 27.814 0 Td (\(171,186\))Tj /T1_0 1 Tf 7.942 0 Td (412,712)Tj ET 0.5 w q 1 0 0 1 368.5039 314.7 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 12 0 0 12 362.8346 316.49 Tm ( )Tj ET q 1 0 0 1 459.2126 314.7 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 12 0 0 12 531.9827 316.49 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -10.267 -2.627 Td (\(93,858\))Tj /T1_0 1 Tf 7.417 0 Td (501,944)Tj ET q 1 0 0 1 368.5039 280.1621 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 12 0 0 12 362.8346 281.9521 Tm ( )Tj ET q 1 0 0 1 459.2126 280.1621 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 12 0 0 12 531.9827 281.9521 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -39.607 -2.583 Td (\(Loss\)/profit for the year attributable to non-)Tj 0.999 -1.292 Td (controlling interests:)Tj /T1_0 1 Tf 0.002 -1.292 Td (\227 from continuing operations)Tj /T1_1 1 Tf -0.025 Tw 28.722 0 Td (47,276)Tj /T1_0 1 Tf 7.701 0 Td (\(7,950\))Tj 0 Tw -36.423 -1.292 Td (\227 from discontinued operations)Tj /T1_1 1 Tf -0.025 Tw 28.339 0 Td (\(48,415\))Tj /T1_0 1 Tf 7.942 0 Td (62,376)Tj ET q 1 0 0 1 368.5039 199.6531 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 12 0 0 12 362.8346 201.4431 Tm ( )Tj ET q 1 0 0 1 459.2126 199.6531 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 12 0 0 12 531.9827 201.4431 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -9.742 -2.583 Td (\(1,139\))Tj /T1_0 1 Tf 7.417 0 Td (54,426)Tj ET q 1 0 0 1 368.5039 165.6441 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 12 0 0 12 362.8346 167.434 Tm ( )Tj ET q 1 0 0 1 459.2126 165.6441 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 12 0 0 12 531.9827 167.434 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -10.267 -2.583 Td (\(94,997\))Tj /T1_0 1 Tf 7.417 0 Td (556,370)Tj ET 1.11 w q 1 0 0 1 368.5039 131.4432 cm 0 0 m 79.37 0 l S Q 0.45 w q 1 0 0 1 368.5039 129.3432 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 362.8346 129.0152 Tm ( )Tj ET 1.11 w q 1 0 0 1 459.2126 131.4432 cm 0 0 m 79.37 0 l S Q 0.45 w q 1 0 0 1 459.2126 129.3432 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 453.5433 129.0152 Tm ( )Tj ET endstreamendobj128 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 24.0557 Tm (\226 2 \226)Tj /T1_1 1 Tf -19.029 58.583 Td (CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME)Tj /T1_2 1 Tf 0 -1.333 Td (For the year ended 31 December 2025)Tj /T1_1 1 Tf -0.025 Tw 30.523 -2.625 Td (2025)Tj /T1_0 1 Tf 7.559 0 Td (2024)Tj /T1_2 1 Tf -15.531 -1.292 Td (Notes)Tj /T1_3 1 Tf 5.841 0 Td (RMB\222000)Tj /T1_2 1 Tf 7.727 0 Td (RMB\222000)Tj /T1_0 1 Tf -2.229 -1.292 Td (\(Re-presented\))Tj /T1_1 1 Tf 0 Tw -33.891 -2.583 Td (CONTINUING OPERATIONS)Tj /T1_0 1 Tf -0.025 Tw 0 -1.292 Td (Revenue )Tj /T1_2 1 Tf 0 Tc 0 Tw 23.49 0 Td (3)Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 4.908 0 Td (1,839,026)Tj /T1_0 1 Tf 7.559 0 Td (1,130,222)Tj 0 Tw -35.957 -1.292 Td (Cost of sales)Tj /T1_1 1 Tf -0.025 Tw 28.015 0 Td (\(1,365,656\))Tj /T1_0 1 Tf 8.359 0 Td (\(792,682\))Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 368.5039 581.7488 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 12 0 0 12 441.274 583.5388 Tm ( )Tj ET q 1 0 0 1 459.2126 581.7488 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 12 0 0 12 531.9827 583.5388 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -39.607 -2.583 Td (Gross profit)Tj -0.025 Tw 29.198 0 Td (473,370)Tj /T1_0 1 Tf 7.559 0 Td (337,540)Tj 0 Tw -36.757 -2.583 Td (Other income, gains and losses)Tj /T1_2 1 Tf 0 Tc 23.49 0 Td (4)Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 5.85 0 Td (\(21,038\))Tj /T1_0 1 Tf 7.559 0 Td (\(42,126\))Tj 0 Tw -36.899 -1.292 Td (Distribution expenses)Tj /T1_1 1 Tf -0.025 Tw 29.865 0 Td (\(6,067\))Tj /T1_0 1 Tf 7.559 0 Td (\(3,601\))Tj 0 Tw -37.424 -1.292 Td (Administrative expenses)Tj /T1_1 1 Tf -0.025 Tw 28.815 0 Td (\(214,883\))Tj /T1_0 1 Tf 7.559 0 Td (\(167,557\))Tj 0 Tw -36.374 -1.292 Td (Reversal of impairment losses/\(impairment losses\) )Tj 0 Tc 21.735 0 Td ( )Tj 0.025 Tc -20.735 -1.292 Td (on other receivables, net)Tj /T1_1 1 Tf -0.025 Tw 29.249 0 Td (1,793)Tj /T1_0 1 Tf 7.976 0 Td (\(929\))Tj 0 Tw -38.224 -1.292 Td (\(Impairment losses\)/reversal of impairment losses )Tj 0.999 -1.292 Td (on investment in associate)Tj /T1_1 1 Tf -0.025 Tw 28.866 0 Td (\(9,810\))Tj /T1_0 1 Tf 7.942 0 Td (9,810)Tj 0 Tw -37.807 -1.292 Td (Other expenses)Tj /T1_1 1 Tf -0.025 Tw 29.34 0 Td (\(18,812\))Tj /T1_0 1 Tf 8.084 0 Td (\(3,921\))Tj ET q 1 0 0 1 368.5039 408.2397 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 12 0 0 12 441.274 410.0297 Tm ( )Tj ET q 1 0 0 1 459.2126 408.2397 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 12 0 0 12 531.9827 410.0297 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -39.607 -2.583 Td (Operating profit)Tj -0.025 Tw 29.198 0 Td (204,553)Tj /T1_0 1 Tf 7.559 0 Td (129,216)Tj ET [2.035 2.035]0 d q 1 0 0 1 368.5039 374.2307 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 12 0 0 12 441.274 376.0206 Tm ( )Tj ET q 1 0 0 1 459.2126 374.2307 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 12 0 0 12 531.9827 376.0206 Tm ( )Tj 0.025 Tc -39.607 -2.583 Td (Finance income)Tj /T1_1 1 Tf -0.025 Tw 29.723 0 Td (17,139)Tj /T1_0 1 Tf 8.084 0 Td (9,090)Tj 0 Tw -37.807 -1.292 Td (Finance costs)Tj /T1_1 1 Tf -0.025 Tw 29.34 0 Td (\(91,222\))Tj /T1_0 1 Tf 7.559 0 Td (\(20,708\))Tj ET []0 d q 1 0 0 1 368.5039 324.7216 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 12 0 0 12 441.274 326.5116 Tm ( )Tj ET q 1 0 0 1 459.2126 324.7216 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 12 0 0 12 531.9827 326.5116 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -39.607 -2.583 Td (Net finance costs)Tj /T1_2 1 Tf 0 Tc 23.49 0 Td (5)Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 5.85 0 Td (\(74,083\))Tj /T1_0 1 Tf 7.559 0 Td (\(11,618\))Tj ET [2.035 2.035]0 d q 1 0 0 1 368.504 290.7125 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 12 0 0 12 441.274 292.5025 Tm ( )Tj ET q 1 0 0 1 459.2126 290.7125 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 12 0 0 12 531.9827 292.5025 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -39.607 -2.583 Td (Profit before taxation)Tj /T1_2 1 Tf 0 Tc 23.49 0 Td (6)Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 5.708 0 Td (130,470)Tj /T1_0 1 Tf 7.559 0 Td (117,598)Tj 0 Tw -36.757 -1.292 Td (Income tax expense)Tj /T1_2 1 Tf 0 Tc 23.49 0 Td (7)Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 6.375 0 Td (\(5,866\))Tj /T1_0 1 Tf 7.034 0 Td (\(36,316\))Tj ET []0 d q 1 0 0 1 368.504 241.2035 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 12 0 0 12 441.274 242.9935 Tm ( )Tj ET q 1 0 0 1 459.2126 241.2035 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 12 0 0 12 531.9827 242.9935 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -39.607 -2.583 Td (Profit after taxation from the continuing )Tj -0.025 Tw 0.999 -1.292 Td (operations)Tj 28.199 0 Td (124,604)Tj /T1_0 1 Tf 8.084 0 Td (81,282)Tj ET [2.035 2.035]0 d q 1 0 0 1 368.5039 191.6944 cm 0 0 m 79.37 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 12 0 0 12 441.274 193.4844 Tm ( )Tj ET q 1 0 0 1 459.2126 191.6944 cm 0 0 m 79.37 0 l S Q BT /T1_0 1 Tf 12 0 0 12 531.9827 193.4844 Tm ( )Tj ET endstreamendobj123 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 24.0557 Tm (\226 1 \226)Tj /T1_1 1 Tf 0.005 Tc 0.028 Tw -19.029 58.583 Td (Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong \Kong Limited take )Tj 0.034 Tw 0 -1.292 Td (no responsibility for the contents of this announcement, make no represe\ntation as to its accuracy )Tj 0.012 Tc 0.076 Tw 0 -1.292 Td [(or)7 ( )0.5 (completeness)7 ( )0.5 (and)7 ( )0.5 (expressly)7 ( )0.5 (disclaim)7 ( )0.5 (any)7 ( )0.5 (liability)7 ( )0.5 (whatsoever)7 ( )0.5 (for)7 ( )0.5 (any)7 ( )0.5 (loss)7 ( )0.5 (howsoever)7 ( )0.5 (arising)6.9 ( )]TJ 0.005 Tc 0 Tw 0 -1.292 Td (from or in reliance upon the whole or any part of the contents of this a\nnouncement.)Tj ET /PlacedGraphic /MC0 BDC EMC 0.961 0.648 0.422 0.273 k /GS1 gs q 1 0 0 1 345.5181 593.0028 cm 0 0 m -7.159 -19.69 l -3.799 -19.69 l 1.593 -4.412 l 6.72 -19.69 l 10.254 -19.69 l 10.254 -19.688 l 3.37 0 l h f Q q 1 0 0 1 314.6481 584.9397 cm 0 0 m 0 -11.638 l 3.293 -11.638 l 3.293 -3.064 l 12.28 -3.064 l 12.28 0 l h f Q q 1 0 0 1 298.1547 593.0127 cm 0 0 m 0 -13.573 l -9.453 0 l -12.08 0 l -12.08 -19.7 l -8.978 -19.7 l -8.978 -6.158 l 0.428 -19.7 l 3.064 -19.7 l 3.064 0 l h f Q 270.922 573.277 3.253 19.731 re f q 1 0 0 1 249.174 580.4928 cm 0 0 m 6.744 -7.119 l 8.889 -5.087 l 2.146 2.032 l h f Q 318.992 607.069 -13.536 13.267 re f 304.116 607.069 -26.4 13.267 re f 277.716 648.88 26.401 13.268 re f q 239.503 573.277 116.268 88.871 re W n q 1 0 0 1 284.6401 634.7388 cm 0 0 m 0.002 3.212 2.66 6.014 6.611 7.514 c 6.611 27.409 l -6.924 27.409 l -6.924 -12.928 l 6.611 -12.928 l 6.611 -7.53 l 2.656 -6.024 -0.003 -3.214 0 0 c f Q q 1 0 0 1 297.8687 642.3691 cm 0 0 m -3.277 0 -6.353 -0.804 -8.665 -2.264 c -10.947 -3.705 -12.204 -5.611 -12.206 -7.63 c -12.208 -11.846 -6.731 -15.28 0.003 -15.285 c 0.024 -15.285 l 3.299 -15.285 6.373 -14.481 8.685 -13.02 c 10.966 -11.579 12.224 -9.672 12.225 -7.652 c 12.228 -5.633 10.973 -3.725 8.694 -2.28 c 6.381 -0.812 3.299 -0.003 0.017 0 c h 0.024 -15.77 m 0.003 -15.77 l -6.999 -15.766 -12.694 -12.114 -12.692 -7.63 c -12.69 -5.438 -11.352 -3.387 -8.925 -1.854 c -6.536 -0.345 -3.367 0.486 0 0.486 c 0.018 0.486 l 3.39 0.483 6.564 -0.354 8.954 -1.87 c 11.379 -3.407 12.713 -5.461 12.711 -7.652 c 12.709 -9.845 11.371 -11.897 8.944 -13.431 c 6.556 -14.94 3.389 -15.77 0.024 -15.77 c f Q q 1 0 0 1 294.0908 626.9503 cm 0 0 m -3.424 2.504 -4.998 5.954 -4.319 9.465 c -3.734 12.486 -1.523 15.053 1.059 15.71 c 1.179 15.24 l -1.227 14.628 -3.292 12.215 -3.842 9.373 c -4.219 7.422 -4.185 3.662 0.286 0.392 c h f Q q 1 0 0 1 296.5262 626.7161 cm 0 0 m -2.718 3.715 -2.902 7.409 -2.577 9.854 c -2.173 12.901 -0.874 15.155 -0.17 16.007 c 0.204 15.698 l -1.038 14.194 -4.646 7.172 0.392 0.287 c h f Q q 1 0 0 1 299.425 626.7161 cm 0 0 m -0.392 0.287 l 4.646 7.172 1.038 14.194 -0.204 15.698 c 0.17 16.007 l 0.874 15.155 2.173 12.901 2.577 9.854 c 2.902 7.409 2.718 3.715 0 0 c f Q 298.129 626.842 -0.485 15.77 re f q 1 0 0 1 301.1128 626.8625 cm 0 0 m -0.167 0.456 l 3.474 1.784 4.688 5.245 4.61 8.042 c 4.529 10.94 2.997 14.303 -0.244 15.284 c -0.103 15.749 l 2.903 14.839 4.992 11.747 5.095 8.055 c 5.178 5.09 3.883 1.416 0 0 c f Q q 1 0 0 1 298.6021 638.7278 cm 0 0 m -0.683 0 -1.337 0.037 -1.938 0.094 c -4.871 0.371 -7.649 1.266 -8.404 1.927 c -8.084 2.292 l -7.493 1.775 -4.949 0.866 -1.892 0.577 c 0.706 0.331 4.334 0.459 6.861 2.464 c 7.163 2.084 l 5.102 0.449 2.374 0 0 0 c f Q q 1 0 0 1 298.7136 636.3232 cm 0 0 m -0.685 0 -1.285 0.016 -1.757 0.034 c -6.389 0.215 -10.519 1.028 -11.802 2.011 c -11.507 2.396 l -10.315 1.483 -6.207 0.694 -1.738 0.519 c 3.507 0.314 7.721 0.973 9.822 2.326 c 10.085 1.917 l 7.563 0.294 2.983 0 0 0 c f Q q 1 0 0 1 299.1417 632.483 cm 0 0 m -0.719 0 -1.456 0.013 -2.21 0.04 c -7.17 0.215 -11.909 0.944 -13.732 1.813 c -13.524 2.251 l -11.782 1.422 -7.016 0.696 -2.193 0.525 c 3.616 0.319 8.417 0.916 10.982 2.163 c 11.195 1.726 l 8.898 0.61 4.889 0 0 0 c f Q q 1 0 0 1 290.7722 628.29 cm 0 0 m -0.333 0.353 l 1.225 1.82 8.236 4.078 14.794 0.471 c 14.561 0.046 l 11.028 1.988 7.594 2.089 5.334 1.832 c 2.83 1.546 0.717 0.675 0 0 c f Q q 1 0 0 1 305.4556 662.1478 cm 0 0 m 0 -20.3 l 3.425 -21.873 5.664 -24.481 5.661 -27.432 c 5.659 -30.378 3.421 -32.98 0 -34.548 c 0 -40.337 l 13.536 -40.337 l 13.536 0 l h f Q q 1 0 0 1 249.2666 592.972 cm 0 0 m -5.392 0 -9.763 -4.394 -9.763 -9.814 c -9.763 -15.235 -5.392 -19.629 0 -19.629 c 0.817 -19.629 1.61 -19.526 2.368 -19.336 c 1.154 -16.758 l 1.084 -16.647 l 0.723 -16.706 0.354 -16.739 -0.024 -16.739 c -3.804 -16.739 -6.869 -13.643 -6.869 -9.825 c -6.869 -6.006 -3.804 -2.911 -0.024 -2.911 c 3.757 -2.911 6.821 -6.006 6.821 -9.825 c 6.821 -10.658 6.689 -11.336 6.421 -12.076 c 9.083 -13.511 l 9.526 -12.391 9.763 -11.094 9.763 -9.814 c 9.763 -4.394 5.392 0 0 0 c f Q 350.93 579.121 -7.729 2.952 re f 314.648 590.041 13.494 2.962 re f q 1 0 0 1 317.9415 591.5219 cm 0 0 m -3.294 0 l -3.294 -11.637 l 0 -11.637 l 0 -7.077 l 0 -3.064 l h f Q Q BT 0 0 0 1 k /GS0 gs /C0_0 1 Tf 0.345 Tc -0.345 Tw 16 0 0 16 192.7978 553.2767 Tm <02950A3709620CEF0DAB0FA003DE082202AE0321>Tj /T1_2 1 Tf 0.025 Tc 0 Tw -1.428 -1.25 Td (CHINA QINFA GROUP LIMITED)Tj /T1_1 1 Tf 10 0 0 10 172.7488 520.2767 Tm (\(Incorporated in the Cayman Islands with limited liability\))Tj /T1_2 1 Tf 12 0 0 12 244.9462 505.2767 Tm (\(Stock code: 00866\))Tj 14 0 0 14 240.1125 478.2768 Tm (FINAL RESULTS)Tj -6.733 -1.143 Td (FOR THE YEAR ENDED 31 DECEMBER 2025)Tj ET 0 0 0 1 K 0.5 w /GS2 gs q 1 0 0 1 56.6929 448.9868 cm 0 0 m 482.39 0 l S Q q 1 0 0 1 56.9429 50.7328 cm 0 0 m 0 398.004 l S Q q 1 0 0 1 538.8327 50.7328 cm 0 0 m 0 398.004 l S Q q 1 0 0 1 56.6929 50.4828 cm 0 0 m 482.39 0 l S Q BT /GS0 gs /T1_0 1 Tf 0.065 Tw 12 0 0 12 62.6122 433.1921 Tm (Reference is made to the profit warning announcement of China Qinfa Grou\p Limited \(the )Tj 0 Tc 0 Tw 0 -1.25 Td (\223)Tj /T1_2 1 Tf 0.067 Tc -0.067 Tw 0.51 0 Td [(C)0.5 (o)0.5 (m)0.5 (p)0.5 (a)0.5 (n)0.5 (y)]TJ /T1_0 1 Tf 0.07 Tw 4.632 0 Td [(\224)0.5 (\))13 ( )0.5 (d)0.5 (a)0.6 (t)0.5 (e)0.5 (d)13 ( )0.5 (2)13 (3)13 ( )0.5 (F)0.5 (e)0.5 (b)0.5 (r)0.5 (u)0.5 (a)0.6 (r)0.5 (y)13 ( )0.5 (2)13 (0)13 (2)13 (6)13 (.)13 ( )0.5 (T)0.5 (h)0.5 (e)13 ( )0.5 (B)0.5 (o)0.5 (a)0.6 (r)0.5 (d)13 ( )0.5 (o)0.5 (f)13 ( )0.5 (D)0.5 (i)0.5 (r)0.5 (e)0.5 (c)0.6 (t)0.5 (o)0.5 (r)0.5 (s)13 ( )0.5 (\()0.5 (t)0.5 (h)0.5 (e)13 ( )0.5 (\223)]TJ /T1_2 1 Tf -0.067 Tw 27.091 0 Td [(B)0.5 (o)0.5 (a)0.5 (r)0.5 (d)]TJ /T1_0 1 Tf 0.07 Tw 2.999 0 Td [(\224)0.5 (\))13 ( )0.5 (o)0.5 (f)13 ( )0.6 (th)0.6 (e)42 ( )]TJ 0.025 Tc 0.077 Tw -35.234 -1.25 Td [(Company is pleased )0.5 (to )0.5 (announce 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