Add Harmony Group Limited holds an 100% indirect equity interest in the Xingtao coal mine. Mining License is issued to Shanxi Shuozhou Pinglu District Huameiao Xingtao Coal Co., Ltd valid till 14 Sep 2034.
To thoroughly achieve business transformation, the Group, through its wholly-owned subsidiary Hong Kong Qinfa International Trading Limited, sold the entire equity interest in Perpetual Goodluck Limited on 11 July 2025 to Add Harmony Group Limited, a company wholly owned by Mr. Xu Jihua, the controlling shareholder. This very substantial disposal and connected transaction involved the disposal of the Group’s interests in three coal mines in Shuozhou (80% equity interest) and two coal mines in Xinzhou (100% equity interest) in Shanxi, China.
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Summary:
The projects area is located in the Pingshuo coalfield, which is part of the north sector of the welldeveloped Ningwu Coal Deposit of the Shanxi province. Several Carboniferous-Permian and Jurassic coal seams are developed within the Ningwu Coal Deposit, although the north sector only has carboniferous-Permian coal seams presented.
The stratigraphy developed within the Pingshuo coal mining zone mainly consists of Ordovician, Late Carboniferous and Permian sedimentary rocks, and Neogene, Quaternary soils. The coal seams are presented within the Late Carboniferous and Permian rocks and the Ordovician limestone strata forms the basement of the coalfield.
In the Xingtao mine, strata dip gently west (less than 10 degrees), with coal seams outcropping in its eastern valley. Seven seams were identified, with five deemed mineable (4-1, 4-2, 9-1, 9-2, and 11) at depths from 0 to 300 meters. All Xingtao coal is classified as high volatile B to C bituminous (ASTM D388) and bituminous CY coal (Chinese Standard GB/T 5751-2009).
Xingtao Coal Mine Seams:
• Seam 4-1: Thickness 2.2-13.0 m (avg. 8.0), Parting numbers 0-9, Avg. parting thickness 0.5 m, Interburden n/a, Roof/Floor lithology Mudstone;
• Seam 4-2: Thickness 2.7-6.1 m (avg. 5.0), Parting numbers 0-3, Avg. parting thickness 0.3 m, Interburden 4.5 m, Roof/Floor lithology Mudstone, Siltstone;
• Seam 8: Thickness 0.7-2.3 m (avg. 1.2), Parting numbers 0, Avg. parting thickness 0 m, Interburden 11.9 m, Roof/Floor lithology Mudstone, Siltstone;
• Seam 9-1: Thickness 1.2-16.2 m (avg. 8.1), Parting numbers 1-6, Avg. parting thickness 0.4 m, Interburden 2.9 m, Roof/Floor lithology Mudstone, Siltstone;
• Seam 9-2: Thickness 0.0-9.5 m (avg. 4.2), Parting numbers 2-3, Avg. parting thickness 0.5 m, Interburden 8.6 m, Roof/Floor lithology Mudstone, Siltstone;
• Seam 10: Thickness 0.3-5.6 m (avg. 9.96), Parting numbers 0-3, Avg. parting thickness 0.2 m, Interburden 6.3 m, Roof/Floor lithology Siltstone;
• Seam 11: Thickness 0.5-5.5 m (avg. 3.4), Parting numbers 0-5, Avg. parting thickness 0.3 m, Interburden 4.4 m, Roof/Floor lithology Mudstone.