Earnings release
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(a joint stock limited company incorporated in the People's Republic of China with limited liability) Stock Code:01171 2026 INTERIM REPORT
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IMPORTANT NOTICE i Yankuang Energy Group Company Limited Interim Report 2026 The Board, the Directors and senior management of the Company warrant the authenticity, accuracy and completeness of the information contained in the interim report and there are no misrepresentations, misleading statements contained in or material omissions from the interim report for which they shall assume joint and several responsibilities. The 2026 interim report of the Company has been approved by the second meeting of the tenth session of the Board. The quorum of the meeting is 11, and 11 Directors attended the meeting. All Directors attended the Board meeting. The 2026 interim report of the Company has not been audited. The 2026 interim report of the Company has been reviewed by the audit committee of the Board. Mr. Li Wei, Chairman of the Board, Mr. Zhao Zhiguo, Chief Financial Officer, and Mr. Guo Hui, Head of the finance management department of the Company, hereby warrant the authenticity, accuracy and completeness of the financial statements contained in this interim report. The Board of the Company proposed to distribute a half-year cash dividend of RMB0.20 per share (including tax) based on the number of shares (excluding treasury shares held by the Company) on the record date of the dividend and equity distribution. The forward-looking statements contained in the 2026 interim report regarding the Company’s future plans do not constitute any substantive commitment to investors and investors are reminded of the investment risks. There was no appropriation of funds of the Company by the Controlling Shareholder and its related parties for non- operational activities. There were no guarantees granted to external parties by the Company, which violated the prescribed decision-making procedures. There was no such case that more than half of the Directors cannot guarantee the authenticity, accuracy and completeness of this interim report. The Company has disclosed the main risks faced by the Group, the influences and the countermeasures in this interim report. For details, please refer to the relevant content in “Chapter 3 Management Discussion and Analysis”, to which the investors’ attention are drawn. All data contained in this report are rounded off, and the increase and decrease percentages were calculated based on the original data before rounding off. For this reason, the total of a table may be different from the actual total of the data shown in the table. Any differences are due to rounding.
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ii CONTENTS Yankuang Energy Group Company Limited Interim Report 2026 Chapter 1 Definitions .................................................................... 1 Chapter 2 Company Information and Major Financial Indicators .................................... 5 Chapter 3 Management Discussion and Analysis ............................................... 9 Chapter 4 Company Governance, Environment and Society ...................................... 36 Chapter 5 Significant Events .............................................................. 52 Chapter 6 Changes in Shares and Shareholders ............................................... 91 Chapter 7 Bonds ....................................................................... 100 Chapter 8 Financial Report................................................................ 119
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1 CHAPTER 1 DEFINITIONS Yankuang Energy Group Company Limited Interim Report 2026 In this report, unless the context requires otherwise, the following terms have the following meanings: DEFINITIONS “Yankuang Energy”, “Company” Yankuang Energy Group Company Limited, a joint stock limited company established under the laws of the PRC in 1997 and the H Shares and A Shares of which are listed on the Hong Kong Stock Exchange and the SSE, respectively; “Group” The Company and its subsidiaries; “Shandong Energy” or “Controlling Shareholder” Shandong Energy Group Co., Ltd., a company with limited liability reformed and established under the laws of the PRC in 1996, is the controlling shareholder of the Company, directly and indirectly holding 52.84% of the shares of the Company as at the end of the reporting period; “Heze Neng Hua” Yanmei Heze Neng Hua Company Limited, a company with limited liability established under the laws of the PRC in 2002, which is mainly engaged in the development and operation of coal resources and electric power business of Zhaolou Coal Mine and Wanfu Coal Mine in Heze City, Shandong Province being a 98.33% owned subsidiary of the Company as at the end of the reporting period; “Luxi Mining” Shandong Energy Group Luxi Mining Company Limited, a company with limited liability established under the laws of the PRC in 2021 which is mainly engaged in coal mining, coal washing, coal products sales and etc., being a 51% owned subsidiary of the Company as at the end of the reporting period; “Tianchi Energy” Shanxi Heshun Tianchi Energy Company Limited, a company with limited liability established under the laws of the PRC in 1999 which is mainly engaged in operation of Tianchi Coal Mine in Jinzhong, Shanxi Province, being a 81.31% owned subsidiary of the Company as at the end of the reporting period; “Xibei Mining” Shandong Energy Group Xibei Mining Co., Ltd., a limited liability company established under the laws of China in 2021. which is mainly engaged in coal mining, coal washing, processing and sales. It is now 51% owned subsidiary of the Company as at the end of the reporting period; “Ordos Company” Yankuang Energy (Ordos) Company Limited, a company with limited liability established under the laws of the PRC in 2009 which is mainly engaged in the development and operation of coal resources and chemical projects being a wholly- owned subsidiary of the Company;
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2 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 1 DEFINITIONS – CONTINUED “Haosheng Company” Inner Mongolia Haosheng Coal Mining Company Limited, a company with limited liability established under the laws of the PRC in 2010 which is mainly engaged in the production and operation of Shilawusu Coal Mine in Ordos, Inner Mongolia Autonomous Region, being a 59.38% owned subsidiary of the Company as at the end of the reporting period; “Inner Mongolia Mining” Inner Mongolia Mining (Group) Co., Ltd., a company with limited liability established under the laws of the PRC in 2013 which is mainly engaged in the investment and management of mineral resources, coal mining and preparation, mineral products sales and other businesses, being a 51% owned subsidiary of the Company as at the end of the reporting period; “Future Energy” Shaanxi Future Energy and Chemicals Co. Ltd., a company with limited liability established under the laws of the PRC in 2011 which is mainly engaged in the R&D, production and sales of chemical products, coal mining and sales, etc., being a 73.97% owned subsidiary of the Company as at the end of the reporting period; “Xinjiang Neng Hua” Yankuang Xinjiang Neng Hua Company Ltd., a company with limited liability established under the laws of the PRC in 2007 which is mainly engaged in coal mining and preparation, chemicals production, sales of coal and coal products, etc., being a 51% owned subsidiary of the Company as at the end of the reporting period; “Lunan Chemicals” Yankuang Lunan Chemicals Co., Ltd., a company with limited liability established under the laws of the PRC in 2007 which is mainly engaged in the development, production and sales of chemical products, etc., being a wholly-owned subsidiary of the Company; “Yulin Neng Hua” Yanzhou Coal Yulin Neng Hua Company Limited, a company with limited liability established under the laws of the PRC in 2004 which is mainly engaged in the production and operation of chemical projects, being a wholly-owned subsidiary of the Company; “Yankuang Leasing” Yankuang Financial Leasing Company Limited, a company with limited liability established under the laws of the PRC in 2014, which is mainly engaged in the financial leasing, leasing, leasing trade consultation and guarantees, as well as commercial factoring related to its main business, etc., being a wholly-owned subsidiary of the Company;
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3 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 1 DEFINITIONS – CONTINUED “Shandong Energy Finance Company” Shandong Energy Group Finance Co., Ltd., a company with limited liability established under the laws of the PRC in 2013, and a 53.92% owned subsidiary of the Company as at the end of the reporting period; “Yancoal Australia” Yancoal Australia Limited, a company with limited liability established under the laws of Australia in 2004 the shares of which are listed on the Australian Stock Exchange and the HKEX respectively, being a 62.26% owned subsidiary of the Company as at the end of the reporting period; “Yancoal International” Yancoal International (Holding) Company Limited, a company with limited liability incorporated under the laws of Hong Kong in 2011 and a wholly-owned subsidiary of the Company; “H Shares” Overseas listed foreign invested shares in the ordinary share capital of the Company, with nominal value of RMB1.00 each, which are traded on the HKEX; “A Shares” Domestic shares in the ordinary share capital of the Company, with nominal value of RMB1.00 each, which are listed on the SSE; “PRC” The People’s Republic of China; “Hong Kong” The Hong Kong Special Administrative Region of the People’s Republic of China; “CASs” Accounting Standards for Business Enterprises and the relevant regulations and explanations issued by the Ministry of Finance of the PRC; “IFRS” International Financial Reporting Standards issued by the International Accounting Standards Board; “CSRC” China Securities Regulatory Commission; “Hong Kong Listing Rules” The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited; “HKEX” or “Hong Kong Stock Exchange” The Stock Exchange of Hong Kong Limited; “SSE” The Shanghai Stock Exchange; “Company Law” Company Law of the PRC;
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4 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 1 DEFINITIONS – CONTINUED “Securities Law” Securities Law of the PRC; “Articles” or “Articles of Association” The articles of association of the Company; “Shareholders” The shareholders of the Company; “Director(s)” The director(s) of the Company; “Board” The board of directors of the Company; “RMB” Renminbi, the lawful currency of the PRC, unless the context otherwise requires; “AUD” Australian dollars, the lawful currency of Australia; “USD” United States dollars, the lawful currency of the United States; “HKD” Hong Kong dollars, the lawful currency of Hong Kong.
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5 CHAPTER 2 COMPANY INFORMATION AND MAJOR FINANCIAL INDICATORS Yankuang Energy Group Company Limited Interim Report 2026 I. INFORMATION OF THE COMPANY Statutory Chinese Nameʮ̡ Abbreviation of Chinese Nameᘤঐ๕ Statutory English Name Yankuang Energy Group Company Limited* Abbreviation of English Name YANKUANG ENERGY Legal Representative Li Wei Authorized Representatives of the HKEX Su Li, Huang Xiaolong * For identification purpose only II. CONTACT DETAILS Secretary to the Board Securities Representatives Name Huang Xiaolong Shang Xiaoyu Address Yankuang Energy Group Company Limited, 949 Fushan South Road, Zoucheng City, Shandong Province, the PRC Secretariat to the Board, Yankuang Energy Group Company Limited, 949 Fushan South Road, Zoucheng City, Shandong Province, the PRC Tel (86 537) 538 2319 (86 537) 539 2377 Fax (86 537) 538 3311 (86 537) 538 3311 E-mail IR@ykenergy.com xyshang@ykenergy.com III. GENERAL INFORMATION Registered Address 949 Fushan South Road, Zoucheng City, Shandong Province, the PRC Office Address 949 Fushan South Road, Zoucheng City, Shandong Province, the PRC Postal Code 273500 Official Website www.ykenergy.com www.yanzhoucoal.com.cn E-mail Address IR@ykenergy.com
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6 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 2 COMPANY INFORMATION AND MAJOR FINANCIAL INDICATORS – CONTINUED IV. INFORMATION DISCLOSURE AND PLACE FOR DOCUMENT INSPECTION Newspapers for information disclosure in the PRC China Securities Journal (www.cs.com.cn) Shanghai Securities News (www.cnstock.com) Securities Times (www.stcn.com) Securities Daily (www.zqrb.cn) Website for publishing interim report Website for publishing A Shares interim report: www.sse.com.cn Website for publishing H Shares interim report: www.hkexnews.hk The interim report is available at Secretariat to the Board of Yankuang Energy Group Company Limited, 949 Fushan South Road, Zoucheng City, Shandong, the PRC V. CORPORATE STOCKS Stock type Place of Listing Stock Abbreviation Stock Code A Share Shanghai Stock Exchange Yankuang Energy 600188 H Share HKEX YANKUANG ENERGY 01171 VI. OTHER INFORMATION Certified Public Accountants (A Shares) Name Baker Tilly China Certified Public Accountants LLP Office Address Zone A-1 & A-5, Building 68, 19 Chegongzhuang West Road, Haidian District, Beijing Certified Public Accountants (H Shares) Name Baker Tilly Hong Kong Limited Office Address 8/F, 728 King’s Road, Quarry Bay, Hong Kong
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7 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 2 COMPANY INFORMATION AND MAJOR FINANCIAL INDICATORS – CONTINUED VII. MAJOR ACCOUNTING DATA AND FINANCIAL INDICATORS OF THE COMPANY The Company consolidated the financial statements of Xibei Mining and other companies in the second half of 2025, which constituted a business combination under the common control, and the Company made retrospective adjustments to the relevant financial data. (I) Operating Results For the six months ended 30 June For the year ended 31 December 2025 (RMB’000) 2026 (RMB’000) 2025 (Restated) (RMB’000) Changes as compared with the corresponding period of the previous year (Unaudited) (Unaudited) (%) (Audited) Sales income 70,231,085 60,857,190 15.40 133,340,597 Gross profit 18,742,507 16,160,516 15.98 33,644,286 Finance costs -2,039,818 -2,184,484 -6.62 -4,095,650 Profit before income tax 13,524,779 9,977,712 35.55 19,310,046 Net income attributable to Shareholders of the Company during the reporting period 7,874,971 5,009,593 57.20 8,524,664 Earnings per share (RMB per share) 0.78 0.50 57.20 0.85 Note: During the reporting period, the Company completed the repurchase and cancellation of 628,524 restricted shares; and repurchased 1,965,200 A Shares by way of centralised price bidding. Earnings per share and other related indicators were calculated based on the weighted average number of ordinary shares outstanding. (II) Assets and Liabilities As at 30 June As at 31 December 2025 (RMB’000) 2026 (RMB’000) 2025 (Restated) (RMB’000) (Unaudited) (Unaudited) (Audited) Current assets 137,010,748 114,083,878 126,445,647 Current liabilities 154,220,235 162,460,248 149,318,163 Total assets 464,003,039 426,608,231 451,972,364 Equity attributable to Shareholders of the Company 76,115,376 61,002,667 71,288,661 Net assets per share (RMB per share) 7.58 6.08 7.10 Return on net assets (%) 10.35 8.21 11.96
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8 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 2 COMPANY INFORMATION AND MAJOR FINANCIAL INDICATORS – CONTINUED (III) Summary of Cash Flow Statement For the six months ended 30 June For the year ended 31 December 2025 (RMB’000) 2026 (RMB’000) 2025 (Restated) (RMB’000) Changes as compared with the corresponding period of the previous year (Unaudited) (Unaudited) (%) (Audited) Net cash from operating activities 12,119,389 12,639,075 -4.11 16,640,257 Net (decrease)/increase in cash and cash equivalents 15,844,814 5,765,540 174.82 -5,127,983 Net cash flow per share from operating activities (RMB per share) 1.21 1.26 -4.11 1.66
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CHAPTER 3 MANAGEMENT DISCUSSION & ANALYSIS 9 Yankuang Energy Group Company Limited Interim Report 2026 I. ILLUSTRATION ON AND MAIN BUSINESS DURING THE REPORTING PERIOD (I) Main Business and Mode of Operation 1. Coal business The Group’s coal business are mainly distributed in Shandong province, Shanxi province, Shaanxi province, Gansu province, and Inner Mongolia Autonomous Region, Xinjiang Uygur Autonomous Region and Australia. Its main products include thermal coal, PCI coal and coking coal applicable to electric power, metallurgy and chemical industry, etc., which are mainly sold to East China, South China, Central China, North China, Northwest China and other regions of China, as well as Japan, South Korea, Australia, Thailand and other countries. 2. Chemical business The Group’s coal chemical business is mainly distributed in Shandong Province, Shaanxi Province, Inner Mongolia Autonomous Region and Xinjiang Uygur Autonomous Region. The main products consist of methanol, acetic acid, urea, full range liquid paraffin, naphtha etc. are mostly sold to North China, East China and Northwest China. (II) Market Position The Group is one of the main coal producers and suppliers in China and Australia, the leader in thermal coal enterprise in China, and Yancoal Australia Limited, a controlled subsidiary, is the largest pure coal producer in Australia. The Group owns several complete coal chemical production lines by use of coal gasification and coal liquefaction, and the China first 1Mt/a coal indirect liquefaction demonstration unit. Its production capacity of methanol, acetic acid, polyoxymethylene, and other products ranks among the top tier of the industry. (III) Market Review Coal Industry: In the first half of 2026, safety-supervision over domestic coal production was tightened. Raw coal output fell year-on-year. Tighter export quotas in Indonesia limited the supplementary effect of coal imports. Widespread high temperatures brought by the El Niño phenomenon advanced the inventory- replenishment cycle ahead of the summer peak-demand season. Total society-wide electricity consumption remained at a high level, while coal consumption by the chemical industry continued to improve. The coal market featured a tight supply-demand balance with coal prices trending upwards amid fluctuations. Chemical Industry: In the first half of the year, driven by factors such as the continued escalation of geopolitical conflicts in the Middle East and the upward shift in the benchmark of international oil and gas prices, the cost advantage of coal chemicals continued to manifest, leading to a steady improvement in the industry’s overall profitability.
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10 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 3 MANAGEMENT DISCUSSION & ANALYSIS – CONTINUED Elaboration on Newly Added Significant Non-Principal Business During the Reporting Period Not applicable. II. DISCUSSION AND ANALYSIS OF BUSINESS OPERATIONS Business Overview Item January- June 2026 January- June 2025 Increase/ Decrease Increase/ Decrease (%) 1. Coal Business (kiloton) Saleable coal production volume 88,018 89,860 -1,842 -2.05 Saleable coal sales volume 82,914 80,316 2,598 3.23 2. Coal Chemicals Business (kiloton) Production volume of chemical products 5,030 4,925 105 2.14 Sales volume of chemical products 4,462 4,348 113 2.61 3. Power Generation Business (10,000KWh) Electricity generated 326,914 359,585 -32,671 -9.09 Electricity sold 267,167 290,985 -23,818 -8.19 Significant Changes in the Company’s Operation during the Reporting Period, or Matters had or Expected to have Significant Influence on the Company’s Business Operation during the Reporting Period Not applicable.
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11 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 3 MANAGEMENT DISCUSSION & ANALYSIS – CONTINUED III. ANALYSIS OF CORE COMPETITIVENESS DURING THE REPORTING PERIOD First, rich in resource reserves. The Group possessed key coal production bases in Shandong, Inner Mongolia, Xinjiang, and Australia, encompassing significant energy hubs both domestically and internationally, thereby establishing advantages in large-scale development. As of the end of 2025, the Group’s in-situ resource of coal under the China National Standard for domestic mines amounted to 52.894 billion tons, while the in-situ resource under the JORC standard for overseas mines amounted to 8.080 billion tons, with its reserves ranking among the industry’s leaders. The variety of coal products includes thermal coal, PCI coal, and coking coal, etc. which cater to diversified market demands. Proactively establishing the layout across various mineral sectors, the Group intended to develop the Caosiyao Molybdenum Mine in Inner Mongolia, with resources estimated at 1.04 billion tons. Second, advantageous in industry chain synergy. The Group’s primary industries encompass mining, high-end chemicals and new materials, high-end equipment manufacturing, intelligent logistics, and new energy. By establishing a comprehensive industrial chain, we achieved efficient resource allocation and effective cost control, thereby cultivating its robustness to withstand market risks. Third, strong in technological R&D. The Group has high-level R&D platforms such as a National Enterprise Technology Center, an Academician Workstation, a CNAS-accredited laboratory, a Postdoctoral Scientific Research Workstation, a Postdoctoral Innovation Base, including three national-level platforms, 22 provincial and ministerial-level high- end innovation platforms, and 18 high-tech enterprises, while possessing advanced core technologies in deep mine extraction and intelligent comprehensive mining. Our production efficiency and safety standards ranked among the industry’s leaders, with 27 mines meeting the national standards for intelligent demonstration. We have developed and utilized the world’s first set of ultra-large comprehensive mining equipment designed for an 8.2-meter mining height; we also undertook the major challenging project of “4000-ton Gasification Demonstration Unit” from the Ministry of Science and Technology, with which we have achieved the international leadership, and have established the first domestic million-ton indirect liquefaction demonstration facility. Fourth, remarkable in international development progress. The Group boasts six listed platforms both domestically and internationally, the Group stood as one of the most internationally integrated and capital market-efficient energy companies listed in China. With extensive experiences in multinational resource mergers and management, the Group has successfully operated overseas projects in Australia and Germany. Its products penetrated regions across Asia-Pacific, Europe, and others, thus establishing diversified sales channels and enabling flexible deployment based on global supply and demand, as well as achieving a globalized allocation of resources, products, technology, and talents.
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12 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 3 MANAGEMENT DISCUSSION & ANALYSIS – CONTINUED IV. MAIN BUSINESS DURING THE REPORTING PERIOD (I) Business Operation by Segments 1. Coal Business (1) Coal Production During the first half of 2026, the Group produced 88.02 million tons of salable coal, representing a decrease of 1.84 million tons or 2.0% as compared with the corresponding period of last year. The following table sets out the production volume of the salable coal of the Group for the first half of 2026: Unit: kiloton Item January- June 2026 January- June 2025 Increase/ Decrease Increase/ Decrease% 1. The Company 9,906 10,097 -191 -1.89 2. Heze Neng Hua 1,796 2,015 -220 -10.90 3. Luxi Mining 6,457 6,273 184 2.93 4. Tianchi Energy 654 627 28 4.40 5. Future Energy 9,096 9,332 -237 -2.54 6. Ordos Company 5,354 5,744 -390 -6.79 7. Haosheng Company 3,413 4,076 -663 -16.26 8. Inner Mongolia Mining 4,063 3,767 297 7.88 9. Xibei Mining 17,937 16,262 1,674 10.30 10. Xinjiang Neng Hua 7,527 9,889 -2,362 -23.88 11. Yancoal Australia 19,822 18,904 918 4.86 12. Yancoal International 1,993 2,875 -881 -30.66 Total 88,018 89,860 -1,842 -2.05 (2) Coal prices and sales The sales volume of coal of the Group for the first half of 2026 was 82.91 million tons, representing an increase of 2.60 million tons or 3.2% as compared with the corresponding period of the previous year. The sales income of coal business of the Group for the first half of 2026 was RMB46.414 billion, representing an increase of RMB5.524 billion or 13.5% as compared with the same period of the previous year.
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13 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 3 MANAGEMENT DISCUSSION & ANALYSIS – CONTINUED The following table sets out the Group’s production and sales of saleable coal by coal types for the first half of 2026: January-June 2026 January-June 2025 Production volume Sales volume Sales price Sales income Production volume Sales volume Sales price Sales income (Kiloton) (Kiloton) (RMB/ ton) (RMB million) (Kiloton) (Kiloton) (RMB/ ton) (RMB million) 1. The Company 9,906 8,600 678.32 5,834 10,097 8,804 612.28 5,390 No.1 clean coal – – – – 16 20 1,037.15 20 No.2 clean coal 2,954 2,881 904.27 2,605 2,498 2,350 850.84 1,999 No.3 clean coal 1,777 1,709 813.89 1,391 2,223 2,219 700.68 1,555 Sub-total of clean coal 4,731 4,590 870.61 3,996 4,737 4,588 779.03 3,574 Screened raw coal 5,175 4,010 458.22 1,838 5,359 4,216 430.79 1,816 2. Heze Neng Hua 1,796 1,535 1083.61 1,663 2,015 1,753 920.48 1,614 No.2 clean coal 1,457 1,295 1191.36 1,543 1,404 1,406 974.75 1,371 No.3 clean coal – – – – 216 212 916.11 194 Screened raw coal 339 240 501.66 120 396 135 363.76 49 3. Luxi Mining 6,457 6,071 887.62 5,389 6,273 6,591 770.74 5,080 clean coal 4,926 4,717 1032.98 4,872 4,421 4,736 922.47 4,369 clean blended coal 1,531 1,355 381.45 517 1,852 1,854 383.19 711 4. Tianchi Energy 654 655 432.51 283 627 625 389.83 244 Screened raw coal 654 655 432.51 283 627 625 389.83 244 5. Future Energy 9,096 5,461 509.04 2,780 9,332 5,965 462.91 2,761 No.3 Clean Coal 1,242 983 572.18 562 948 482 489.92 236 Lump coal 2,090 2,011 582.98 1,172 2,214 2,105 507.82 1,069 Screened raw coal 5,764 2,468 423.66 1,046 6,170 3,378 431.09 1,456 6. Ordos Company 5,354 3,530 385.24 1,360 5,744 4,472 370.92 1,659 Screened raw coal 5,354 3,530 385.24 1,360 5,744 4,472 370.92 1,659 7. Haosheng Company 3,413 2,995 467.91 1,402 4,076 2,670 388.03 1,036 Screened raw coal 3,413 2,995 467.91 1,402 4,076 2,670 388.03 1,036 8. Inner Mongolia Mining 4,063 3,427 427.85 1,466 3,767 3,049 365.71 1,115 Screened raw coal 4,063 3,427 427.85 1,466 3,767 3,049 365.71 1,115 9. Xibei Mining 17,937 17,183 460.58 7,914 16,262 15,505 413.77 6,416 Screened raw coal 17,937 17,183 460.58 7,914 16,262 15,505 413.77 6,416 10. Xinjiang Neng Hua 7,527 9,228 111.92 1,033 9,889 9,123 122.40 1,117 Screened raw coal 7,527 9,228 111.92 1,033 9,889 9,123 122.40 1,117
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14 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 3 MANAGEMENT DISCUSSION & ANALYSIS – CONTINUED January-June 2026 January-June 2025 Production volume Sales volume Sales price Sales income Production volume Sales volume Sales price Sales income (Kiloton) (Kiloton) (RMB/ ton) (RMB million) (Kiloton) (Kiloton) (RMB/ ton) (RMB million) 11. Yancoal Australia 19,822 19,840 714.96 14,185 18,904 16,594 689.56 11,442 Semi-soft coking coal 1,810 1,812 997.06 1,806 1,799 1,579 851.29 1,344 PCI coal 1,245 1,246 1,035.70 1,291 1,370 1,202 1,056.64 1,270 Thermal coal 16,767 16,783 660.70 11,088 15,735 13,813 639.12 8,828 12. Yancoal International 1,993 1,954 624.86 1,221 2,875 2,695 575.66 1,552 Thermal coal 1,993 1,954 624.86 1,221 2,875 2,695 575.66 1,552 Subtotal of self-produced coal 88,018 80,481 553.30 44,531 89,860 77,847 506.44 39,425 13. Traded coal – 2,433 774.27 1,884 – 2,469 593.40 1,465 Total 88,018 82,914 559.79 46,414 89,860 80,316 509.12 40,890 Factors affecting the changes in sales income of coal business are analyzed in the following table: Impact of Changes on Coal Sales Volume Impact of Changes on Coal Sales Price (RMB million) (RMB million) The Company -125 568 Heze Neng Hua -201 250 Luxi Mining -400 710 Tianchi Energy 12 28 Future Energy -233 252 Ordos Company -350 51 Haosheng Company 126 239 Inner Mongolia Mining 138 213 Xibei Mining 694 804 Xinjiang Neng Hua 13 -97 Yancoal Australia 2,239 504 Yancoal International -427 96 Traded coal -22 440 Total 1,465 4,058 The Group’s coal products are mainly sold in markets such as China, Japan, South Korea, Thailand, Australia, etc.
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15 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 3 MANAGEMENT DISCUSSION & ANALYSIS – CONTINUED The following table sets out the Group’s coal sales by geographical regions for the first half of 2026: January-June 2026 January-June 2025 Sales Volume Sales Income Sales Volume Sales Income (Kiloton) (RMB million) (Kiloton) (RMB million) 1. China 69,921 36,780 68,517 32,296 East China 23,934 17,005 25,609 14,688 South China 7,927 4,684 6,594 3,610 North China 17,229 7,548 16,107 7,209 Central China 4,712 3,043 4,242 2,543 Northwest China 15,306 3,903 14,513 3,382 Other regions 815 597 1,451 865 2. Japan 5,355 4,632 4,106 3,835 3. South Korea 1,979 1,499 2,356 1,659 4. Thailand 2,091 1,002 1,928 859 5. Australia 849 475 1,697 950 6. Others 2,718 2,025 1,712 1,291 7. Total for the Group 82,914 46,414 80,316 40,890 Most of the Group’s coal products were sold to industries such as power generation, metallurgy, chemicals and trade, etc. The following table sets out the Group’s coal sales volume by industries for the first half of 2026: January-June 2026 January-June 2025 Sales Volume Sales Income Sales Volume Sales Income (Kiloton) (RMB million) (Kiloton) (RMB million) 1. Electricity power 38,562 19,155 36,587 17,549 2. Metallurgy 11,085 8,764 10,271 8,314 3. Chemical 10,456 5,318 11,480 4,805 4. Trade 18,285 10,471 18,172 8,158 5. Others 4,526 2,708 3,807 2,064 6. Total for the Group 82,914 46,414 80,316 40,890
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16 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 3 MANAGEMENT DISCUSSION & ANALYSIS – CONTINUED (3) The Cost of Coal Sales The Group’s cost of coal sales for the first half of 2026 was RMB28.945 billion, representing an increase of 3.050 billion or 11.8% on the corresponding period in 2025. Sales cost per ton of self- produced coal was RMB339.57/ton, representing an increase of RMB22.80/ton or 7.2% on the corresponding period in 2025. The following table sets out the main sales cost of coal by business entities: Total cost of sales Cost of sales per ton January- June 2026 January- June 2025 Increase/ Decrease Increase/ Decrease January- June 2026 January- June 2025 Increase/ Decrease Increase/ Decrease (RMB million) (RMB million) (RMB million) (%) (RMB/ton) (RMB/ton) (RMB/ton) (%) The Company 3,903 4,189 -287 -6.84 418.93 444.48 -25.55 -5.75 Heze Neng Hua 1,040 1,237 -197 -15.95 677.41 705.78 -28.37 -4.02 Luxi Mining 3,362 3,171 191 6.02 553.78 481.18 72.60 15.09 Tianchi Energy 245 237 8 3.32 373.18 378.67 -5.49 -1.45 Future Energy 1,358 1,327 32 2.38 185.94 175.99 9.95 5.65 Ordos Company 870 1,057 -187 -17.70 230.45 236.37 -5.92 -2.51 Haosheng Company 968 1,100 -132 -12.02 294.26 274.30 19.97 7.28 Inner Mongolia Mining 1,028 1,094 -65 -5.98 261.94 287.04 -25.09 -8.74 Xibei Mining 5,265 4,533 732 16.16 306.43 292.35 14.08 4.82 Xinjiang Neng Hua 903 679 224 32.92 97.85 74.46 23.39 31.42 Yancoal Australia 9,142 7,059 2,083 29.51 460.79 425.41 35.37 8.31 Yancoal International 1,086 1,014 73 7.17 555.88 376.08 179.80 47.81 Traded Coal 1,616 1,281 335 26.12 664.18 518.87 145.30 28.00 Note: The total cost of sales and cost of coal sales per ton in the table above are data before offsetting by each business segment. Explanation of the change in the sales cost of coal per ton of Xinjiang Neng Hua: the production of salable coal decreased year-on-year, which led to a year-on-year increase in the cost of sales per ton. Explanation of the change in the sales cost of coal per ton of Yancoal International: the production of salable coal decreased year-on-year, which led to a year-on-year increase in the cost of sales per ton.
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17 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 3 MANAGEMENT DISCUSSION & ANALYSIS – CONTINUED 2. Coal chemicals business The following table sets out the Group’s coal chemicals business for the first half of 2026: January-June 2026 January-June 2025 Production Volume Sales Volume Sales Income Cost of Sales Production Volume Sales Volume Sales Income Cost of Sales (Kiloton) (Kiloton) (RMB million) (RMB million) (Kiloton) (Kiloton) (RMB million) (RMB million) Methanol 2,352 2,287 4,495 2,834 2,308 2,214 4,009 2,801 Acetic acid 572 420 1,086 813 518 360 819 713 Full range liquid paraffin 225 219 1,396 1,142 232 216 1,256 522 Naphtha 115 114 715 532 125 124 813 588 Ethylene glycol 210 224 862 411 191 191 754 388 Urea 427 382 554 519 509 485 710 619 Others 1,128 817 4,639 4,266 1,042 756 4,191 4,009 Total 5,030 4,462 13,747 10,517 4,925 4,348 12,552 9,642 3. Power Generation Business The following table sets out the operation of the Group’s power business for the first half of 2026: January-June 2026 January-June 2025 Power Generation Power Sold Sales Income Sales Cost Power Generation Power Sold Sales Income Sales Cost (10,000KWh) (10,000KWh) ((RMB million) (RMB million) (10,000KWh) (10,000KWh) ((RMB million) (RMB million) 1. Jining No.3 Power 260 260 1 8 37,588 31,948 129 130 2. Heze Neng Hua 71,932 63,446 234 183 74,666 66,621 256 219 3. Lunan Chemicals 17,413 11,927 36 34 20,776 14,930 49 38 4. Yulin Neng Hua 4,006 3,167 6 6 4,993 4,675 11 11 5. Future Energy 50,476 17,945 54 51 52,496 15,445 45 55 6. Inner Mongolia Mining 182,826 170,421 619 548 169,067 157,365 629 517 Total 326,914 267,167 951 830 359,585 290,985 1,119 969 Note: Jining No.3 Power refers to Shandong Yankuang Jining No.3 Power Co., Ltd. Due to the shutdown of its power plants during the Reporting Period, the power generated, power sold, sales income and sales cost of Jining No.3 Power decreased year-on-year.
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18 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 3 MANAGEMENT DISCUSSION & ANALYSIS – CONTINUED (II) Analysis of Main Business 1. Analysis on changes of items in the financial statement Unit: RMB million Items For the six months ended 30 June 2026 For the six months ended 30 June 2025 Increase/ Decrease (%) Sales income 70,231 60,857 15.40 Sales cost 48,875 42,344 15.42 Sales, general and administration expenses 8,158 7,438 9.68 Net cash from operating activities 12,119 12,639 -4.11 Net cash from investment activities -9,123 -8,484 – Net cash from financing activities 12,848 1,610 697.80 Share of results of associates 1,960 1,264 55.06 Other income and gains 3,380 2,244 50.63 Net cash from financing activities: Ǻ based on the achievement of performance commitments of Luxi Mining and Xinjiang Neng Hua, the refundable consideration received under the transaction during the reporting period increased by RMB18.361 billion year-on-year; ǻ the Group repaid part of its borrowings during the reporting period. Explanation of changes in share of results of associates: The results of investee companies, including Inner Mongolia Jinlian Aluminum Material Limited Company in which the Group holds equity interests, increased year-on-year. Explanation of changes in other income and gains: During the reporting period, the Company transferred 100% Equity Interests in Xintai Company through public tender, resulting in a year-on-year increase in other income and gains. 2. Elaboration on significant changes in business scope, the profit structure or source of profit of the Company during the reporting period Not applicable. 3. Source and use of fund For the first half of 2026, the Group’s source of fund was mainly from operating cash flow, bond issuance and bank loans, among others. And the fund was mainly used for operating expenses, purchasing of fixed property, machinery and equipment, bank loans repayment, consideration payment for assets and equity acquisition, etc.
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19 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 3 MANAGEMENT DISCUSSION & ANALYSIS – CONTINUED (III) Elaboration of Significant Changes of Profit Due to Non-core Business (All financial data in this section was prepared under CASs) 1. During the Reporting Period, the Company transferred 100% equity interests in Inner Mongolia Xintai Coal Company Limited (ʮ̡) (“Xintai Company”) through public tender, recognising an investment gain and resulting in an increase of RMB2.843 billion in net profit attributable to shareholders of the listed company. 2. During the reporting period, Future Energy made provision for potential tax litigation losses and paid consumption tax of RMB870 million, which decreased the net profit attributable to shareholders of the listed company by RMB644 million. 3. During the reporting period, Yancoal Australia recognised a foreign exchange hedging loss of RMB880 million, which decreased the net profit attributable to shareholders of the listed company by RMB383 million.
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20 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 3 MANAGEMENT DISCUSSION & ANALYSIS – CONTINUED (IV) Analysis on Assets and Liabilities 1. Assets and liabilities Unit: RMB million Item Closing amount as at 30 June 2026 Percentage to the total assets as at 30 June 2026 Closing amount as at 31 December 2025 Percentage to the total assets as at 31 December 2025 Percentage of increase/ decrease in closing amount Notes (%) (%) (%) Performance compensation receivable from the Parent Company 0 0 18,361 4.06 -100.00 Refundable consideration of RMB18.361 billion under the transaction was received during the reporting period, and the performance compensation receivable from the Parent Company decreased accordingly. Other financial assets at amortised cost 5,335 1.15 788 0.17 577.27 Financial assets held under resale agreements bought by Shandong Energy Finance Company increased compared with the beginning of the year. Bank balances and cash 42,385 9.13 26,677 5.90 58.89 During the reporting period, the Group received transaction- related refunds of RMB18.361 billion, resulting in a corresponding increase in bank balances and cash. Other explanations Not applicable. 2. Overseas asset (All financial data in this section was prepared under CASs) (1) Size of asset As at 30 June 2026, the Group’s overseas asset is RMB76.782 billion, representing 16.5% over the total asset.
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21 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 3 MANAGEMENT DISCUSSION & ANALYSIS – CONTINUED (2) Elaboration on the high proportion of overseas asset Unit: RMB million Overseas asset Reasons of ownership Mode of operation Operating revenue of the reporting period Net profit of the reporting period Yancoal Australia incorporated by investment self-operated 14,864 77 Yancoal International incorporated by investment self-operated 1,647 -480 Other explanations Not applicable. 3. Major asset subject to restrictions as at the end of this reporting period (All financial data in this section was prepared under CASs) As at 30 June 2026, the Group’s asset subject to restriction was RMB78.683 billion, which mainly included monetary fund, receivables financing and related pledged asset for borrowings. For details, please refer to “Notes to Key Items of the Consolidated Financial Statements – Assets Subject to Restriction on Ownership or Right of Use” in the notes to the financial report prepared under CASs. 4. Other explanation (1) Debt to equity ratio As at 30 June 2026, the equity attributable to the Shareholders of the Company was RMB76.115 billion, and the interest-bearing liabilities amounted to RMB128.448 billion, representing a debt-to- equity ratio (equal to interest-bearing liabilities divided by equity attributable to the Shareholders of the Company) of 168.8%. (2) Contingent liabilities For details of the contingent liabilities, please see “Contingent liabilities” in the notes to the financial statements prepared under the IFRS. (3) Pledge of assets For details of pledge of assets, please refer to “Notes to Key Items of the Consolidated Financial Statements – Assets Subject to Restriction on Ownership or Right of Use” in the notes to the financial report prepared under the CASs.
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22 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 3 MANAGEMENT DISCUSSION & ANALYSIS – CONTINUED (V) Analysis of Investment (All financial data in this section was prepared under CASs) 1. Analysis on general external equity investment Not applicable. (1) Major equity investment Not applicable. (2) Major non-equity investment Not applicable. (3) Financial assets measured at fair value Unit: RMB’000 Assets categories Amount at the beginning of the reporting period Profit and loss due to changes in the fair value during the reporting period Accumulated fair value changes included in equity Impairment accrued during the reporting period Purchase amount during the reporting period Sales/ redemption amount during the reporting period Other changes Amount at the end of the reporting period Stocks 1,148 -155 -117 – – – – 876 Trust products 70,519 – – – – – – 70,519 Others 2,100,800 -86,926 – – 40,741 49,836 -2,351 2,002,428 Total 2,172,467 -87,081 -117 – 40,741 49,836 -2,351 2,073,823
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23 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 3 MANAGEMENT DISCUSSION & ANALYSIS – CONTINUED Stock investment Unit: RMB’000 Stock varieties Stock code Stock abbreviation Initial investment amount Source of capital Book value as at the beginning of the reporting period Profit and loss due to changes in the fair value during the reporting period Accumulated fair value changes included in equity Purchase amount during the reporting period Sales amount during the reporting period Investment profit and loss during the reporting period Book value as at the end of the reporting period Accounting accounts Stocks 601008 Lianyungang 89 Monetary capital 480 – -117 – – – 363 Other investments in equity instruments Stocks 601777 Qianli Technology 425 Debt restructuring 668 -155 – – – 513 Exchange traded financial assets Trust products – CCB Trust – Cai Die No.6 Trust Plan on Property Rights 43,731 Debt restructuring 70,519 – – – – – 70,519 Other investments in equity instruments Total / / 44,245 / 71,667 -155 -117 – – – 71,395 / Elaboration on securities investment: Not applicable. Elaboration on private capital investment: Not applicable. Elaboration on derivatives investment: Not applicable. (VI) Disposal of Material Assets and Equity As reviewed and approved at the general manager’s office meeting of the Company, Ordos Company, a wholly-owned subsidiary of the Company, transferred 100% equity interests in Inner Mongolia Xintai Coal Company Limited (ʮ̡) through public tender on Shandong Property Right Exchange Center. The transferee is Ordos Wulan Coal (Group) Co., Ltd. (பʮ̡), and the transaction price is RMB3,050 million. As of the date of this report, the equity transfer has been completed along with procedures related to industrial and commercial changes, resulting in an increase of RMB2.843 billion in the net profit attributable to shareholders of the listed company. For details, please refer to “Chapter 5 Significant Events” in this report in relation to other significant matters.
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24 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 3 MANAGEMENT DISCUSSION & ANALYSIS – CONTINUED (VII) Analysis on Major Controlled Companies and Joint Stock Companies (All financial data in this section was prepared under CASs) Major subsidiaries and investees accounting for over 10% of the net profit of the Company Unit: RMB million Name of companies Type of companies Principal activities Registered capital Total assets Net assets Operating revenue Operating profit Net profit Future Energy Subsidiary Coal mining and sales; R&D, production and sales of chemical products, coal mining and sales, etc. 5,400 38,788 33,691 6,751 2,777 1,777 Ordos Company Subsidiary Development and operation of coal resources and chemical projects 10,800 31,530 17,540 7,920 4,561 4,302 Inner Mongolia Mining Subsidiary Investment and management of mineral resources, coal mining and preparation 6,997 45,210 13,696 2,398 1,248 1,166 The followings are the major controlled subsidiaries whose operating performance during the reporting period fluctuated significantly as compared with that of the same period of the previous year: Lunan Chemicals In the first half of 2026, it achieved a net profit of RMB307 million, compared with a net loss of RMB101 million in the same period of the previous year, mainly due to rising prices of chemical products during the reporting period. Ordos Company In the first half of 2026, it achieved a net profit of RMB4.302 billion, representing an increase of RMB3.131 billion or 267.4% year-on-year, mainly due to the public listing of 100% equity interests in Inner Mongolia Xintai Coal Company Limited (ʮ̡) during the reporting period, as well as a year-on-year increase in the selling prices of coal products. Future Energy In the first half of 2026, it achieved a net profit of RMB1.777 billion, representing a decrease of RMB534 million or 23.1% year-on-year, mainly due to provisions for losses arising from tax-related litigation and the payment of consumption tax.
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25 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 3 MANAGEMENT DISCUSSION & ANALYSIS – CONTINUED Inner Mongolia Mining In the first half of 2026, it achieved a net profit of RMB1.166 billion, representing an increase of RMB1.058 billion or 980.4% year-on-year, mainly due to a year-on-year increase in investment income from Inner Mongolia Jinlian Aluminum Material Limited Company during the reporting period. Xibei Mining In the first half of 2026, it achieved a net profit of RMB945 million, representing an increase of RMB255 million or 37.0% year-on-year, mainly due to a year-on-year increase in the selling prices of coal products during the reporting period. Yancoal Australia In the first half of 2026, it achieved a net profit of RMB77 million, representing a year-on-year decrease of RMB676 million or 89.8%, mainly due to foreign exchange hedging losses were recognised during the reporting period, and the cost of coal sales increased year-on-year. Yancoal International In the first half of 2026, it achieved a net loss of RMB480 million, compared with a profit of RMB286 million in the same period of the previous year, mainly due to a year-on-year decrease in both the production and sales volumes of saleable coal during the reporting period. For the relevant information about the main businesses and main financial indicators of the Group’s major controlled subsidiaries, please refer to the note “Interests in Other Entities-Interests in Joint Venture and Associated Companies” to the financial statement prepared under CASs. Acquisition and disposal of subsidiaries during the reporting period Name of company Methods to acquire and dispose of subsidiaries during the reporting period Impact on overall production and operation and results Inner Mongolia Xintai Coal Company Limited Transfer through public tender Resulting in an increase of RMB2,843 million in net profit attributable to shareholders of the listed company Other explanations Not applicable.
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26 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 3 MANAGEMENT DISCUSSION & ANALYSIS – CONTINUED (VIII) Structures of Entities Controlled by the Company Not applicable. V. DISCLOSURE ON OTHER EVENTS (All financial data in this section was prepared under CASs) (I) Possible Risks Risks arising from safety management The two business segments of the Company, namely “coal mining and coal chemicals”, are of highly hazardous nature and of complex uncertainties in terms of production safety, thus leading to the likelihood of risks of safety management. Countermeasures: The Group carry out regular and institutionalised survey and management of hidden disaster-causing factors in mines, so as to achieve five criteria: analysis of disaster threats, measures for management proposals, focus on key nodes, disaster information sharing, and post-assessment management. The Group puts great efforts on enhancing the comprehensiveness of the investigation on risks and potential hazards, the accuracy of the identification of hazardous sources, the effectiveness of the management measures, and the timeliness of the implementation of the proposals, so as to realise the closed-loop risk management. Risks arising from environmental protection With the China’s environmental policies getting much stricter and the whole society increasingly valuing environmental protection, the Group is facing more stringent environmental restrictions. China has made a solemn commitment to the world to achieve “carbon peaking and carbon neutrality”, which brings significant impacts on the operation and development of the Company’s coal business. Countermeasures: The Group will strictly implement the requirements of environmental protection regulations, actively promote the upgrading and transformation of facilities and improve the operation and management of facilities to ensure that pollutants are discharged in accordance with the standards. The Group will also implement strategic transformation, actively promote the transformation of traditional industries and the rise of emerging industries, and follow the path of green and low-carbon development. In addition, the Group will promote the efficient and clean utilization of coal and continue to maintain the coal’s fundamental role in the energy structure. Risks arising from exchange rates As a multinational company, the Group’s businesses, such as overseas investment, overseas financing, international trade, etc., are subject to the fluctuation of foreign exchange rates, which in turn bring uncertainties to the operation results and strategic development of the Group.
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27 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 3 MANAGEMENT DISCUSSION & ANALYSIS – CONTINUED Countermeasures: The Group strengthens the study and judgment on the trend of foreign exchange rate, and takes advantage of comprehensive financial instruments to lower the risks brought by the fluctuation of foreign exchange rates. According to the movement trend of exchange rates for transaction currencies, the Group will establish the appropriate value-preservation clause in the transaction contract. The Group will flexibly use the instruments of foreign exchange derivatives, sign forward contracts of foreign exchange transactions and lock in the exchange rates. Risks arising from geopolitics The Group’s businesses across different regions and countries will be affected by factors such as local government policy, as well as changes in economic and international relations. If any major adverse changes occur, the business, financial condition and operating results of the Group may be adversely affected. Countermeasures: First, the Group will pay close attention to the international trends, strengthen the analysis of political and economic developments in regions where the Group runs its business, timely identify and foresee the geopolitical risks for its overseas businesses, and formulate counter measures. Second, the Group will continue to adhere to the localization strategy, comply with the local laws and regulations and actively integrate into the local economic and social development. (II) Other Disclosure 1. Capital expenditure plan The capital expenditure for the first half of 2026 and the capital expenditure plan of 2026 of the Group (grouped by business entities) are set out in the following table: Unit: RMB100 million For the first half of 2026 For the year 2026 (Budget) The Company 2.89 24.24 Yankuang Logistics Technology Co., Ltd. 0.49 3.13 Heze Neng Hua 0.97 5.73 Luxi Mining 2.58 7.92 Lunan Chemicals 3.80 15.35 Xibei Mining 9.73 21.89 Future Energy 0.78 6.36 Ordos Company 11.21 29.48 Haosheng Company 0.25 3.67 Inner Mongolia Mining 0.16 5.34 Xinjiang Neng Hua 14.38 31.03 Yancoal Australia 9.49 34.18 Other subsidiaries 0.13 9.99 Total 56.86 198.31
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28 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 3 MANAGEMENT DISCUSSION & ANALYSIS – CONTINUED The capital expenditure for the first half of 2026 and the capital expenditure plan of 2026 of the Group (grouped by fund use) are set out in the following table: Unit: RMB100 million For the first half of 2026 For the year 2026 (Budget) Infrastructure Project 28.33 93.60 Coal mine infrastructure 12.20 32.18 Infrastructure for chemical projects 15.54 53.15 Infrastructure for logistics and warehouse 0.49 5.78 Other infrastructures 0.10 2.49 Maintenance of simple reproduction 25.76 83.41 Safety production plan expenditure 2.72 19.89 Technology R&D plan 0 0.73 Technology revamp plan 0.05 0.68 Total 56.86 198.31 The Group has sufficient capital reserves to meet the needs of future strategic investment, project construction and Shareholder dividends. 2. Coal exploration, development and mining during the reporting period For the first half of 2026, the Group’s expenditure for coal exploration of RMB13,152,900 was mainly due to the expenditure for exploration projects of certain newly-constructed mines; the capital expenditure related to coal development and mining was RMB3.790 billion, which was mainly invested in the expenditure of fixed asset of existing mines and the development and mining costs of the WuCaiWan No. 4 Openpit Mine, the Youfanghao Coal Mine and the Yangjiaping Coal Mine, as well as the coal mines under Yancoal Australia and Yancoal International.
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29 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 3 MANAGEMENT DISCUSSION & ANALYSIS – CONTINUED 3. Operation strategy of the second half of 2026 In the second half of the year, the Group will seize opportunities and build on the prevailing momentum. It will focus on the annual targets for saleable coal production and chemical product output, and vigorously push forward industrial upgrading, output expansion, cost reduction and efficiency improvement, as well as project construction, fully striving to strengthen its industries, boost profitability and create value. I. Focusing on output expansion and accelerating project delivery (1) Phased advancement of mining projects We will adhere to the principle of expanding space, countering cycles, and improving efficiency through incremental growth. We will solidly advance project construction, accelerate the release of competitive production capacity, and go all out to increase production and expand capacity, making a good start for the critical “15th Five-Year Plan” goals. The Shaanxi-Inner Mongolia Base will expedite the commencement of construction of the Bokentai Coal Company (Liusangedan Coal Mine), Xinghe Molybdenum Industry (Caosiyao Molybdenum Mine), and the Huolinhe No. 1 Coal Mine, while accelerating the processing of key formalities for mines including Galutu. Xibei Mining will accelerate the construction of the Youfanghao Coal Mine and the Yangjiaping Coal Mine, and actively progress the formalities for adjusting the overall plans for the Mafuchuan and Maojiachuan mining areas. The Xinjiang Base will make every effort to push for the commissioning and operation of the Wucaiwan No. 4 Open-pit Mine. (2) Accelerated implementation of chemical projects Focusing on industrial chain extension, chain supplementation and high-end transformation, we will accelerate the construction of the 800,000-ton olefin project of Rongxin Chemicals, the 60,000-ton polyformaldehyde project of Lunan Chemicals, and its capacity integration project for the renovation and upgrading of old methanol units, as well as the 800,000-ton coal-to-olefin project in Xinjiang. Seizing the policy opportunities under the national strategic reserve policy for coal-to-oil-and-gas, we will accelerate the advancement of the 500,000- ton per annum high-temperature Fischer-Tropsch project of Future Energy; and proactively strive for high-end coal chemical planning projects and supporting high-quality coal resources. (3) Capacity expansion of power projects We will press ahead with the construction of large-scale coal-fired power generating units, and expedite the phased completion of the Xintai 2Ò 600 MW coal-fired power project and the Xiangguang 2Ò 660 MW cogeneration project. We will deepen the development in offshore wind power, actively participate in the competitive allocation for the Bozhong offshore wind power projects in Shandong Province, and accelerate the approval processing for the Site G project. We will make strategic layout for onshore wind power, accelerate the grid-connection of the Guanxian Wind Power Project, and ensure the commencement of wind power projects in regions such as Zoucheng and Hongda Industrial. We will actively push forward the development and construction of wind-solar projects in regions including Zaozhuang, Jiaozhou, and Binzhou.
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30 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 3 MANAGEMENT DISCUSSION & ANALYSIS – CONTINUED (4) Expanding external markets for equipment manufacturing projects We will strengthen the core product line of high-end hydraulic supports and actively engage with major domestic energy companies to meet their demand for complete equipment sets; we will make every effort to expand into overseas markets such as Australia, Southeast Asia, and Africa. The technological, brand, and market channel resources of the European platform will be integrated. SMT Scharf AG is focused on building itself into a service provider for mine auxiliary transport equipment, deepening its core product of lithium-ion battery monorail crane, expanding into product categories such as lithium-ion battery rubber-tyred vehicles, and accelerating the development of markets in South Africa and Poland. CFH has been constructing a domestic production base to high standards, striving to make breakthroughs in the Australian and Canadian markets. (5) Enhancing the quality and efficiency of logistics projects We will deepen the integration of resources across the entire chain and innovate business models, promote the deep synergy of logistics, trade, sales, and storage, and enhance the segment’s profitability and value-creation capabilities. The railway segment will solidify its internal transportation support and vigorously explore the external operation and maintenance service market within the province and the Shaanxi-Inner Mongolia region. We will expand the “West Coal to East” logistics corridor and accelerate the construction of the Caojiahuochang to Niujialiang railway project. The port and shipping segment will fully leverage the synergistic advantages of the “Two Ports and One Shipping” model involving Yankuang Tai’an Port, Jining Port, and Yankuang Shipping, and develop high-value-added businesses such as container intermodal transport. We will deepen the “physical logistics + digital intelligence platform” model and develop international ocean shipping routes to Australia, Southeast Asia, South Africa, and other regions.
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31 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 3 MANAGEMENT DISCUSSION & ANALYSIS – CONTINUED II. Strengthening internal management and focusing on quality and efficiency improvement We will adhere to the path of intensive development and management improvement, and implement lean management and control measures such as the “6 Refinements and 6 Enhancements” and the “Ten Enhancements and Ten Efficiency Improvements”, responding to external changes by strengthening management. (1) Reducing Financial Expenses. We will make good use of low-cost funds such as subsidized loans and new policy-based financial instruments, and strengthen comprehensive budget management and benchmarking management. (2) Tapping into Operational Potential. We will implement comprehensive measures such as centralized procurement, “consignment”, and “agent storage”. We will carry out asset verification and warehouse clearance for better utilization, strengthen efforts to clear out zombie enterprises and curb losses, and orderly dispose of inefficient and ineffective assets. (3) Strengthening marketing to boost revenue. We will precisely implement the “Three Focuses and Two Guarantees” strategy (focus on long-term contract fulfillment, strategic customer maintenance, and new market development; guarantee coal quality and cash flow). We will enhance production-sales coordination, increase cross-mine coal blending for washing, and implement coordinated joint sales; leverage Shaanxi-Inner Mongolia collection and distribution stations, provincial ports, and other logistics nodes to flexibly allocate resources and enhance comprehensive premium capture capability. (4) Deepening reform for greater efficiency. We will improve the market-oriented operating mechanism, deepen the reform of the “three systems”, and implement mechanisms for adjustments of the lowest-ranked and the exit of those who are incompetent. We will strengthen the empowerment of technological innovation, and tackle key technologies such as digital and intelligent mining in kilometer-deep shafts, unmanned mining in thin coal seams, and green methanol.
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32 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 3 MANAGEMENT DISCUSSION & ANALYSIS – CONTINUED III. Optimizing the layout and structure to strengthen development momentum Closely following the state-owned enterprise reform deployment and the industrial development layout of the “15th Five-Year Plan”, we will focus on adjusting the structure and optimizing the layout of our primary responsibilities and core businesses. We will channel superior resources, technology, and capital toward high-profitability projects, including 10-million-ton smart mines, high-end chemicals, and non-ferrous metals. We will adhere to the principle of “supporting selective areas while curbing others, advancing strategic businesses while phasing out non-core ones”, and advance the “Four Optimizations”, covering location, coal type, resource endowment, and disaster management, to resolutely and orderly phase out a number of mines with low capacity, severe disasters, and poor profitability. We will enhance the clean and efficient utilization of coal, adhere to the principle of “chemicals where feasible, power where suitable”, promote the integration of coal and chemicals and the coal- power joint ventures, and continuously improve coal conversion capabilities and industrial synergy effects. 4. The impact of exchange rate changes The impacts of exchange rate fluctuations on the Group were mainly reflected in: (1) The overseas coal sales income are priced in USD and AUD respectively, generating an impact on the overseas coal sales income; (2) The exchange gains and losses of the foreign currency deposits and borrowings; (3) The cost of imported equipment and accessories of the Group. Affected by the fluctuations in foreign exchange rates, the Group had a book exchange loss of RMB131 million during the reporting period. To manage foreign currency risks arising from the sales income, Yancoal Australia and Yancoal International have entered into foreign exchange hedging contracts with banks. In addition, to manage foreign currency risks arising from the distribution of share dividend in HKD, Yancoal Australia has also entered into foreign exchange hedging contracts with banks as required. To hedge the exchange gains or losses of USD debts arising from the fluctuation of foreign exchange rates, Yancoal Australia and Yancoal International have adopted an accounting natural hedging approach to such debts for risk management purposes, which effectively mitigated the impact of fluctuation of exchange rate on the current profit or loss. At the end of the reporting period, the loan in USD of Yancoal Australia has been fully settled, but pursuant to the accounting rules governing natural hedging, the exchange gains or losses caused by the early repayment of the loan will still be recognised in the accounting period in which the contractually agreed maturity date of the loan falls. Save as disclosed above, the Group did not take hedging measures on other foreign exchange and did not further hedge the exchange rate between RMB and other foreign currencies in the reporting period.
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33 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 3 MANAGEMENT DISCUSSION & ANALYSIS – CONTINUED 5. Implementation of an Action Plan of “Improving Quality, Increasing Efficiency and Enhancing Returns” In the first half of 2026, in line with the Action Plan of Improving Quality, Increasing Efficiency and Enhancing Returns, the Company coordinated work across the entire chain, covering capacity release, project breakthroughs, cost reduction and expense control, capital operations, shareholder dividends, and market value maintenance. Its industrial structure was further optimized, asset quality steadily improved, and shareholder-return measures such as dividends, share buybacks, and stake increases were implemented in an orderly manner, yielding tangible results across all aspects of the special action. I. Focusing on Core Businesses and Upgrading the Industrial System We deeply integrated ourselves into the national 15th Five-Year Plan and the development of the new energy system, adhered to the dual track of “incremental capacity expansion” and “stock optimization”, and continuously strengthened our “five major industries”, further consolidating the foundation of industrial development. Mining: We successfully won the bid for the Kestrel Coal Mine, adding 406 million tons of high- quality resources, closing the gap in high-end coking coal resources and reinforcing our voice in the global coking coal market. Key project breakthroughs were accelerated, while the development of mines such as Youfanghao and Yangjiaping progressed in an orderly manner. High-End Chemical and New Materials: The 800,000-ton olefin project of Rongxin Chemicals and the 60,000-ton polyformaldehyde project of Lunan Chemicals entered the final sprint stage, and the 800,000-tonne olefin project of Xinjiang Nenghua is under full-scale construction, laying the groundwork for extending the industrial chain. Power and New Energy: The acquisition of 100% equity in the controlling shareholders, namely New Energy Group and Shanneng Power Sales was approved by the shareholders’ meeting, which will add 12.01 million KW of installed power capacity. We accelerated building a multi- energy complementary power asset system featuring “coal power as the baseline, wind and solar for growth, energy storage for regulation, and power sales for full-chain connectivity”. High-End Equipment Manufacturing: Our zero-carbon smart manufacturing park put a smart lights-out factory into operation. Products such as hydraulic supports and explosion-proof lithium battery monorail cranes were exported in batches to Indonesia, South Africa, Poland, Kazakhstan, and Australia, with overseas orders continuing to land and the global brand influence of “Yankuang Made” rising. Smart Logistics: We proactively integrated into the construction of the national logistics corridor and deepened the “five-in-one” operating system, comprising railways, highways, ports and shipping, industrial parks and platforms. Tai’an Port leveraged its regional hub advantage, strengthened “road-rail-water” intermodal coordination and integrated inbound/outbound logistics, and markedly enhanced the park’s supply chain integration and resource consolidation capabilities.
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34 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 3 MANAGEMENT DISCUSSION & ANALYSIS – CONTINUED II. Deepening Lean Management and Significantly Enhancing Operational Resilience We adhered to the “cost is the key to win” strategy, thoroughly implemented measures such as “6 refinements and 6 enhancements”, “two increases, three reductions, four improvements” and “Ten Enhancements and Ten Efficiency Improvements”, achieving tangible results in cost control and asset quality in the first half of the year. Production Volume Control: In response to coal market conditions, we made phased adjustments to the production plan, achieving 88.02 million tons of salable coal output. Chemical product output reached 5.03 million tons; ten chemical products, including methanol, ethylene glycol, and caprolactam, set new high-yield records for the period. Both chemical output and efficiency rose in tandem, profitability was fully unleashed, and the coal-chemical synergy advantage became prominent. Cost Control: The per-unit material consumption of salable coal decreased by 3.4% year-on- year. We strictly controlled production, management, and labor costs, saving RMB352 million in expenses. Asset Quality: By optimizing the financing structure and seizing favorable interest rate windows, the average financing rate was reduced to 2.4%. The monetary fund balance at the end of the period was approximately RMB54.9 billion, and the asset-liability ratio dropped to 60.9%, a decrease of approximately 1.3 percentage points from the beginning of the year, reflecting a sound financial structure. Marketing: The Company relied on long-term contracts and direct supply to stabilize the foundation, and pursued a clean coal as the winning strategy to enhance value. We increased the sales of high value-added products, strengthened coal quality control throughout the entire process, and won market trust with the “Yankuang Coal” brand. III. Regulated Governance: Further Perfecting Yankuang-specific Corporate Governance System The Company continued to consolidate and refine its Yankuang-specific governance system, which features the deep integration of Party leadership and corporate governance, the organic merger of state-owned asset regulation and listed-company compliance, and the coordinated advancement of onshore governance and offshore oversight. The Board re-election process was advanced in an orderly manner in accordance with the law. The reform of the independent director system was piloted, making the Company the first A+H share company in China to have an investor protection institution publicly nominate independent directors, and the first listed company in China to have a public fund participate in the nomination of independent directors. In line with the Code of Corporate Governance for Listed Companies, we refined the remuneration management system, improved the Company’s incentive and restraint mechanisms, and coordinated the enactment, revision, abolition, and interpretation of governance systems. We continued to strengthen and refine the assessment system for property rights representatives, and fortified the management and control over subordinate enterprises. Our MSCI ESG rating was upgraded to BBB, making us the only company in the coal industry to achieve the highest rating. We vigorously advanced the development of green mines, maintained industry-leading comprehensive energy consumption per unit of industrial output, achieving a comprehensive utilization rate of 100% for mine water and coal gangue.
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35 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 3 MANAGEMENT DISCUSSION & ANALYSIS – CONTINUED IV. Delivering Value and Building an Efficient Investor Relations Management System We hosted high-quality earnings roadshows both onshore and offshore, maintaining high- frequency, in-depth interactions with global investors. We issued 200 announcements across domestic and overseas markets, organized 74 roadshows, 2 earnings calls, and 1 reverse roadshow, engaging with 1,560 investor contacts, which was highly recognized by the capital market. We deepened the “135” market value management system, comprehensively leveraging value creation, standardized governance, efficient communication, and market value management tools to ensure the Company’s value resonated with market recognition. In the first half of the year, our market capitalization peaked at RMB218.7 billion, a 90% increase from the beginning of the year. V. Taking Multiple Measures to Emphasize Returns and Improving the Long-Term Shareholder Value- Sharing Mechanism We continued to practice the philosophy of “shareholders first, value sharing”, implemented an integrated five-pronged return system, covering “medium-to-long-term dividend planning + interim dividends + share buybacks + controlling shareholder stake increases + market value management”, and fully delivered on our shareholder return commitments. The Company successfully completed the 2023–2025 dividend plan, maintaining a dividend payout ratio of more than 60% during the period. We disclosed the “2026-2028 Shareholder Return Plan”, institutionalized interim dividends, and used tangible returns to put the “shareholders first” philosophy into practice.
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CHAPTER 4 COMPANY GOVERNANCE, ENVIRONMENT AND SOCIETY 36 Yankuang Energy Group Company Limited Interim Report 2026 I. CHANGES IN DIRECTORS AND SENIOR MANAGEMENT OF THE COMPANY Name Positions assumed Changes Causes for change Explanation of the change Li Wei Chairman Election Re-election None Wang Jiuhong Director Election Re-election None Yue Guangsheng Director Election Re-election None Zhang Haijun Director Election Re-election None Li Shipeng Director Election Re-election None Su Li Employee Director Election Re-election None Huang Xiaolong Director Election Re-election None Li Weian Independent Director Election Re-election None Gao Jingxiang Independent Director Election Re-election None Woo Kar Tung, Raymond Independent Director Election Re-election None Zhu Rui (female) Independent Director Election Re-election None Wang Jiuhong General Manager Appointment Re-election None Jin Jiahao Senior management Appointment Re-election None Kang Dan Vice General Manager Appointment Re-election None Gao Chunlei Chief Engineer (chemical engineer) Appointment Re-election None Huang Xiaolong Secretary to the Board Appointment Re-election None Yue Ning Vice General Manager Appointment Re-election None Zhao Zhiguo Chief Financial Officer Appointment Re-election None Xu Changhou Vice General Manager Appointment Re-election None Qi Junming Chief Safety Officer Appointment Re-election None Li Jianzhong Vice General Manager Appointment Re-election None Wang Baoqi Chief Engineer Appointment Re-election None Liu Jian Director Reappointment Re-election None Liu Qiang Director Reappointment Re-election None Zhu Limin Director Resignation Re-election None Zhang Zhaoyun Chief Engineer Reappointment Other work appointment None Zhang Lei Chief Investment Officer Reappointment Re-election None
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37 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 4 COMPANY GOVERNANCE, ENVIRONMENT AND SOCIETY – CONTINUED Explanation of changes in Directors and senior management of the company 1. Changes in Directors As reviewed and approved at the 2025 Annual General Meeting of Shareholders convened on 26 June 2026, Mr. Li Wei, Mr. Wang Jiuhong, Mr. Yue Guangsheng, Mr. Zhang Haijun, Mr. Li Shipeng, Mr. Huang Xiaolong, Mr. Li Weian, Mr. Gao Jingxiang, Mr. Woo Kar Tung, Raymond and Ms. Zhu Rui were appointed as the non- staff Directors of the tenth session of the Board of the Company with the term of office starting from the end of the 2025 annual general meeting and ending on the end of the general meeting for electing the directors of the eleventh session of board of directors of the Company. As reviewed and approved at the first meeting of the tenth session of the Board convened on 26 June 2026, Mr. Li Wei was appointed as the Chairman of the tenth session of the Board. After the election of the employee representative meeting, Mr. Su Li was elected as the employee representative director of the Company’s tenth session of Board with the term of office starting from the end of the 2025 annual general meeting and ending on the end of the general meeting for electing the directors of the eleventh session of board of directors of the Company. Due to the expiration of the term of the ninth session of the Board of Directors, Mr. Liu Jian, Mr. Liu Qiang and Mr. Zhu Limin no longer serve as directors of the Company from the date of the conclusion of the 2025 Annual General Meeting. For details, please refer to the announcement of resolutions of the 23rd meeting of the ninth session of the Board of the Company dated 28 April 2026, the announcement regarding the election of employee representative Directors, and the resolution announcement of the 2025 annual general meeting and the resolution announcement of the first meeting of the tenth session of the Board dated 26 June 2026. Such information was published on the websites of the SSE, the Hong Kong Stock Exchange, the Company and/or China Securities Journal, Shanghai Securities News, Securities Times and Securities Daily. 2. Change in Senior Management (1) Changes during the Term of the Ninth Session of the Board Upon nomination by the General Manager and upon consideration and approval at the 23rd meeting of the ninth session of the Board of the Company convened on 28 April 2026, Mr. Wang Baoqi was appointed as Chief Engineer of the Company. His term of office is aligned with those of other senior management appointed at the ninth session of the Board. Mr. Zhang Zhaoyun ceased to serve as the Chief Engineer of the Company. For details, please refer to the announcement of resolutions of the 23rd meeting of the ninth session of the Board of the Company dated 28 April 2026. Such information was published on the websites of the SSE, the Hong Kong Stock Exchange, the Company and/or China Securities Journal, Shanghai Securities News, Securities Times and Securities Daily.
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38 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 4 COMPANY GOVERNANCE, ENVIRONMENT AND SOCIETY – CONTINUED (2) Re-election Upon nomination by the Chairman of the Board and the General Manager of the Company and upon consideration and approval at the first meeting of the tenth session of the Board of the Company convened on 26 June 2026, Mr. Wang Jiuhong was appointed as the General Manager of the Company; Mr. Jin Jiahao was appointed as the senior executive of the Company; Mr. Kang Dan, Mr. Yue Ning, Mr. Xu Changhou and Mr. Li Jianzhong was appointed as the Vice General Manager of the Company; Mr. Gao Chunlei was appointed as the Chief Engineer (chemical engineer) of the Company; Mr. Huang Xiaolong was appointed as the Secretary to the Board of Directors of the Company; Mr. Zhao Zhiguo was appointed as the Chief Financial Officer of the Company; Mr. Qi Junming was appointed as the Chief Safety Officer of the Company; Mr. Wang Baoqi was appointed as the Chief Engineer of the Company. Their terms of office shall commence from the conclusion of the first meeting of the tenth session of the Board of the Company and end upon the conclusion of the Board meeting at which the eleventh session of senior management of the Company is appointed. Mr. Zhang Lei has ceased to act as the Chief Investment Officer of the Company. For details, please refer to the announcement of resolutions of the first meeting of the tenth session of the Board of the Company dated 26 June 2026. Such information was published on the websites of the SSE, the Hong Kong Stock Exchange, the Company and/or China Securities Journal, Shanghai Securities News, Securities Times and Securities Daily. II. PROFIT DISTRIBUTION SCHEME OR CAPITAL RESERVE TRANSFERRED TO SHARE CAPITAL SCHEME Proposed Profit Distribution Scheme or Capital Reserve Transferred to Share Capital Scheme for the First Half of 2026 Whether distributed or transferred Yes Number of bonus share for every 10 shares (share) 0 Amount of cash dividend for every 10 shares (RMB) (including tax) 2.00 Number of shares converted for every 10 shares (share) 0 Relevant explanation on profit distribution scheme or capital reserve transferred to share capital scheme The Board of the Company proposed to distribute a cash dividend of RMB2.00 (inclusive of tax) per 10 shares for the half-year of 2026, based on the total share capital (1,965,200 treasury shares held by the Company will not participate in this dividend distribution) on the record date for dividend and equity distribution. The cash dividend will be distributed to the Shareholders of the Company within two months. Pursuant to the Articles of Association, the cash dividend will be calculated and declared in RMB. If there is any change in the total share capital of the Company during the period between the date of disclosure and the date of registration of shareholdings for the implementation of the equity distribution, the Company will maintain the distribution amount per share unchanged and adjusted the total amount of distribution accordingly.
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39 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 4 COMPANY GOVERNANCE, ENVIRONMENT AND SOCIETY – CONTINUED III. CIRCUMSTANCE AND IMPACT OF THE EQUITY INCENTIVE SCHEME AND EMPLOYEE STOCK OWNERSHIP PLAN OR OTHER INCENTIVE SCHEME TO EMPLOYEES (I) Equity Incentive Scheme Disclosed in Extraordinary Announcement with no Progress or Changes Not applicable. (II) Share Option Incentives Not Disclosed in Extraordinary Announcements or with Subsequent Progress General Information on Share Incentive 2021 A-Share Restricted Share Incentive Scheme Incentive Method: restricted shares Source of underlying shares: issuance of shares to incentive participants The measurement method of the fair value of equity instruments, the selection criteria of parameters and the results Calculation method According to “Accounting Standards for Business Enterprises No. 11 – Share- based Payment”, the Company takes the difference between the closing price of the shares on the grant date and the grant price as the share-based payment cost per restricted share. It will finally confirm the share-based payment cost of this incentive scheme. Parameter Closing price and grant price of the shares on the grant date. Calculation results The fair value of each restricted share is RMB12.80. As considered and approved at the 2022 first extraordinary general meeting, the first class meeting of Shareholders of A Shares/H Shares and the twentieth meeting of the eighth session of the Board of the Company on 27 January 2022, the Company grants restricted shares to incentive participants under the 2021 A-Share Restricted Share Incentive Scheme (the “Restricted Share Incentive Scheme”). As considered and approved at the fifth meeting of the ninth session of the Board of the Company convened on 23 February 2024, it was confirmed that the conditions for lifting the first lock-up period of the Restricted Share Incentive Scheme have been fulfilled, and the Company has lifted 29,163,420 Restricted Shares granted to 1,201 incentive participants from sale restrictions. The weighted average closing price of the Company’s shares immediately prior to the lifting date of the lock-up was RMB27.41 (price before ex-rights and ex- dividend). On 8 March 2024, restricted stocks that had been lifted from sales restrictions were circulated.
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40 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 4 COMPANY GOVERNANCE, ENVIRONMENT AND SOCIETY – CONTINUED As considered and approved at the thirteen meeting of the ninth session of the Board of the Company convened on 24 February 2025, it was confirmed that the conditions for lifting the second lock-up period of the Restricted Share Incentive Scheme have been fulfilled, and the Company has unlocked 36,738,700 restricted shares granted to 1,171 incentive participants from the restriction on sale. The weighted average closing price of the Company’s shares immediately prior to the date of unlocking of restricted shares was RMB13.21 (price before ex-rights and ex-dividend). On 7 March 2025, restricted stocks that had been unlocked were circulated. As considered and approved by the 21st meeting of the ninth session of the Board of the Company convened on 11 February 2026, it was confirmed that the conditions for lifting the third lock-up period of the Restricted Shares Incentive Scheme have been met, and the Company has unlocked 37,440,936 restricted shares granted to 1,161 incentive participants. The weighted average closing price of the shares of the Company immediately before the date of unlocking was RMB19.10 (price before ex-rights and exdividend). On 17 March 2026, restricted shares that had been unlocked were circulated. As of 30 June 2026, the holding of restricted shares is as follows: Unit: 0’000 shares Name Position Number of restricted shares held at the beginning of the year Number of newly granted restricted shares Grant price of restricted shares (RMB/ share) Number of restricted shares lapsed during the reporting period Unlocked shares during the reporting period Locked shares during the reporting period Number of the restricted shares at the end of the reporting period Market price at the end of the reporting period (RMB/ share) Wang Jiuhong Director, General Manager 5.304 0 11.72 0 5.304 0 0 17.77 Kang Dan Vice General Manager 5.304 0 11.72 0 5.304 0 0 17.77 Gao Chunlei Chief Engineer (chemical engineer) 5.304 0 11.72 0 5.304 0 0 17.77 Huang Xiaolong Director, Secretary to the Board 10.608 0 11.72 0 10.608 0 0 17.77 Xu Changhou Vice General Manager 3.978 0 11.72 0 3.978 0 0 17.77 Qi Junming Chief Safety Officer 5.304 0 11.72 0 5.304 0 0 17.77 Wang Baoqi Chief Engineer 5.304 0 11.72 0 5.304 0 0 17.77 Zhang Zhaoyun (reassigned) Chief Engineer 3.978 0 11.72 0 3.978 0 0 17.77 Sub-total of Directors and senior management 45.084 0 / 0 45.084 0 0 / Sub-total of others 3,761.862 0 / 62.8524 3,699.0096 0 0 / Sub-total of Directors and senior management Total 3,806.946 0 / 62.8524 3,744.0936 0 0 / Total 3,806.946 0 / 62.8524 3,744.0936 0 0 / Notes: Ǻ The above table is filled out based on the employment status of the Company’s Directors and senior management on the disclosure date of this report. ǻ According to the Restricted Share Incentive Scheme, all the incentive participants set out in the above table was granted locked restricted stocks on 27 January 2022. The closing price before the date of granting such restricted shares was RMB22.06 (price before ex-rights and ex-dividend). Ǽ Due to work adjustment of 18 incentive participants, the Company repurchased and canceled 0.628524 million restricted shares that have been granted but not yet unlocked. For details, please refer to “(II) Historical Adjustments” in this section of “Summary of the Restricted Share Incentive Scheme”.
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41 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 4 COMPANY GOVERNANCE, ENVIRONMENT AND SOCIETY – CONTINUED At the beginning and end of the reporting period, the number of restricted shares granted under all of the Company’s equity incentive scheme was 0. During the reporting period, the number of shares issued based on restricted shares granted under all of the equity incentive schemes was 0, which, divided by the weighted average of the total number of A Shares issued during the period, equals 0%. Summary of the Restricted Share Incentive Scheme (I) Grant of the Restricted Share Incentive Scheme 1. Purpose of the Restricted Share Incentive Scheme To further improve the medium and long-term incentive mechanism, fully mobilize the enthusiasm of the Company’s management team and key employees, closely combine the interests of Shareholders, the Company’s interests and the personal interests of the core team, and enhance the Company’s market competitiveness and sustainable development capabilities. 2. Scope of participants The participants of the Restricted Share Incentive Scheme include the Directors, senior management, mid-level management and backbone employees of the Company, excluding external Directors (including independent Directors), Supervisors, Shareholders or de facto controllers that individually or jointly hold 5% or above shares of the Company and their spouses, parents and children. 3. Number of underlying shares As reviewed and approved at the Company’s 2022 First Extraordinary General Meeting of Shareholders, the First A-share/H-share Shareholder Meeting, and the 20th meeting of the eighth session of the Board of Directors held on 27 January 2022, 62.34 million restricted shares were granted to 1,256 incentive participants; all restricted shares were granted in full on 27 January 2022. Following consideration by the Group’s Board of Directors on the matters relating to the grant, in the process of capital contribution, 11 incentive participants voluntarily waived all restricted shares granted to them by the Company for personal reasons, amounting to a total of 600,000 restricted shares. Consequently, the number of incentive participants was adjusted from 1,256 to 1,245, and the number of restricted shares granted was adjusted from 62.34 million to 61.74 million. The underlying stocks involved are RMB ordinary shares (A Shares). 4. Maximum amount of shares for each participant The number of Company shares granted to any one of the incentive participants through all the equity incentive scheme within the validity period shall not, in aggregate, exceed 1% of the Company’s total share capital on the announcement date of the draft of the Restricted Share Incentive Scheme. 5. Grant date As considered and approved at the twentieth meeting of the eighth session of the Board of the Company convened on 27 January 2022, the grant date was 27 January 2022.
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42 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 4 COMPANY GOVERNANCE, ENVIRONMENT AND SOCIETY – CONTINUED 6. Lock-up period Lock-up periods of the Restricted Share Incentive Scheme are 24 months, 36 months and 48 months from the date of completion of the registration of the grant of restricted shares. 7. Unlocking Arrangements The unlocking period of the restricted shares granted by the Restricted Share Incentive Scheme and the unlocking time schedule of each period are shown in the following table: Unlocking arrangements Unlocking period Proportion of unlocking First unlocking period From the first trading day after the 24th month from the registration date of the restricted share to the last trading day within the 36th month from the registration date for the restricted share 33% Second unlocking period From the first trading day after the 36th month from the registration date of the restricted share to the last trading day within the 48th month from the registration date for the restricted share 33% Third unlocking period From the first trading day after the 48th month from the registration date of restricted shares to the last trading day within the 60th month from the registration date for restricted shares 34% 8. Grant price The grant price of the Restricted Share Incentive Scheme is RMB11.72 per share, that is, after meeting the granting conditions, the participants can purchase the Company’s additional restricted shares issued by the Company to the participants at a price of RMB11.72 per share. 9. Basis of determination of the grant price The grant price shall not be lower than the par value of the share and shall not be lower than 50% of the fair market price, and the fair market price shall be determined by the higher of the following prices: Standard 1: The average trading price of the Company’s underlying shares on the trading day before the announcement of the draft of the Restricted Share Incentive Scheme; Standard 2: One of the average trading prices of the Company’s underlying shares in the 20th trading days, 60th trading days or 120th trading days prior to the announcement of the draft of the Restricted Share Incentive Scheme.
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43 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 4 COMPANY GOVERNANCE, ENVIRONMENT AND SOCIETY – CONTINUED See the table below for details: Unit: RMB/Share Standard 1 Standard 2 The average trading price of the Company’s share in the previous trading day The average trading price of the Company’s share in the previous 20 trading days The average trading price of the Company’s share in the previous 60 trading days The average trading price of the Company’s share in the previous 120 trading days Lowest granting price A Shares 23.44 23.29 27.03 22.55 11.72 10. Repurchase principle After completing the share registration of the restricted shares granted to the participants, if the Company has issues such as converting capital reserves into share capital, distributing stock dividends, splitting shares, allotment of shares, shrinking shares, etc., the repurchased quantities and prices of restricted shares that have not been released shall be adjusted accordingly. For specific adjustment methods, please refer to the “Yankuang Energy 2021 A Share Restricted Share Incentive Plan” announced on 27 January 2022. When the participant terminates the labour relationship with the Company due to objective reasons such as transfer, dismissal, retirement, death, loss of civil capacity, etc., the restricted shares that have not been released shall be repurchased and canceled by the Company at the grant price (adjusted, the same as below) plus bank deposit interest for the same period. If the participant resigns or is fired due to personal reasons, the restricted shares that have been granted but have not been released from sales restrictions shall be repurchased and canceled by the Company. The repurchase price is the lower value of the grant price or the Company’s stock market price at the time of repurchase (the market price refers to the average trading price of the Company’s shares on the trading day immediately preceding the date of the Board meeting at which the repurchase is considered, same below). If the Company’s performance assessment target of a certain restricted stock lifting period is not reached, all the restricted shares held by the incentive object cannot be lifted and shall be repurchased and cancelled by the Company. The restricted shares that cannot be lifted in the current period due to the results of the performance assessment at the individual level shall be repurchased and cancelled by the Company. The repurchase price shall not be higher than the lower between the grant price and the market price.
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44 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 4 COMPANY GOVERNANCE, ENVIRONMENT AND SOCIETY – CONTINUED 11. Validity period The Restricted Share Incentive Scheme came into effect since approval by the 2022 first extraordinary general meeting, the 2022 first class meeting of Shareholders of A/H Shares convened on 27 January 2022. The validity period of the restricted shares granted under the Restricted Share Incentive Scheme shall not exceed 60 months commencing from the date of granting the restricted shares. 12. Completion of the grant On 24 February 2022, the Company completed the registration of the grant of restricted shares in the Shanghai branch of China Securities Depository and Clearing Corporation Ltd. For details, please refer to the Company’s announcement dated 25 February 2022 on the results of the grant of the 2021 A-Share Restricted Share Incentive Scheme. (II) Historical adjustments to the Restricted Share Incentive Scheme As considered and approved at the second meeting of the ninth Board of the Company held on 25 August 2023, since the Company carried out two profit distributions during the restricted period, and distributed 0.5 bonus share for each share, the Board adjusted the repurchase price and quantity of restricted shares. After this adjustment, the repurchase price was adjusted from RMB11.72 per share to RMB3.6133 per share, and the number of restricted shares that had been granted but not released from sales restrictions was adjusted from 61.74 million to 92.61 million. Due to reasons such as position change and retirement of 26 participants, the Company canceled 2.67 million restricted shares that had been granted but not been released. For details, please refer to the Company’s announcement dated 25 August 2023 on the adjustment of the repurchase price and quantity of restricted shares, and the announcement on the repurchase and cancellation of restricted shares that had been granted to some participants but not been released. As considered and approved at the fifth meeting of the ninth session of the Board of the Company on 23 February 2024, given the fact that 16 participants no longer met the incentive conditions due to job transfers and other reasons, 2 participants had been assessed as “unqualified” in performance evaluation, and 4 participants had been assessed as “up-to-threshold” in performance evaluation, the Company decided to repurchase and cancel the 1.40118 million restricted stocks granted but not yet released for the above 22 incentive participants. Please refer to the announcement of the Company dated 23 February 2024 in relation to repurchase and cancellation of restricted shares that had been granted to some participants but not been released. As considered and approved at the thirteenth meeting of the ninth session of the Board of the Company on 24 February 2025, since the Company carried out two profit distributions within 2024, and distributed 0.3 bonus share for each share, the Board of the Company adjusted the repurchase price and quantity of restricted shares. After this adjustment, the repurchase price was adjusted from RMB3.6133 per share to RMB1.4033 per share, and the number of restricted shares that had been granted but not released from sales restrictions was adjusted from 59.3754 million to 77.18802 million; 27 incentive participants no longer meet the incentive conditions due to job transfers and other reasons, 5 participants have been assessed as “unqualified” in performance evaluation, and 9 incentive participants had been assessed as “up-to-threshold” in performance evaluation, the Company decided to repurchase and cancel the 2.37986 million restricted stocks granted but not yet released for the above 41 incentive participants. Please refer to the announcement of the Company dated 24 February 2025 in relation to repurchase and cancellation of restricted shares that had been granted to some participants but not been released.
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45 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 4 COMPANY GOVERNANCE, ENVIRONMENT AND SOCIETY – CONTINUED As considered and approved at the 21st meeting of the ninth session of the Board of the Company on 11 February 2026, since the Company carried out two profit distributions in 2025, the Board adjusted the repurchase price of restricted shares. After this adjustment, the repurchase price was adjusted from RMB1.4033 per share to RMB0.6833 per share, and the number of restricted shares that had been granted but not released from sales restrictions was 38.06946 million. Given the fact that 15 participants no longer met the incentive conditions due to job transfers and other reasons, 3 participants had been assessed as “up-to- threshold” in performance evaluation, the Company decided to repurchase and cancel the 0.628524 million restricted stocks granted but not yet released for the above 18 incentive participants. Please refer to the announcement of the Company dated 11 February 2026 in relation to repurchase and cancellation of restricted shares that had been granted to some participants but not been released. Other Explanations Not applicable. Employee shareholding scheme Not applicable. Other Incentive Schemes Not applicable. IV. CORPORATE GOVERNANCE (Prepared in accordance with the listing rules in PRC) Since its listing, the Company has paid close attention to the process of standardization and rule of law in the securities market. In accordance with the “Company Law”, “Securities Law” and the relevant regulatory regulations of the place of listing, following the principles of transparency, accountability, and safeguarding the rights and interests of all Shareholders, a relatively standardized and stable corporate governance structure has been established, which is no material difference from the requirements and the relevant documents of the CSRC. On 16 October 2025, the CSRC revised the “Code of Corporate Governance for Listed Companies”, requiring companies to establish a remuneration management system and to reasonably determine the remuneration structure and level of directors and senior management. In accordance with the above requirements and in light of its actual circumstances, the Company has formulated the Remuneration Management System and concurrently amended its “Articles of Association”, the “Rules of Procedure for Shareholders’ Meetings” and the “Rules of Procedure for the Board of Directors”. For details, please refer to the announcement of resolutions of the 22nd meeting of the ninth session of the Board dated 27 March 2026, and the resolution announcement of the 2025 annual general meeting dated 26 June 2026. Such information is published on the websites of the SSE, the Hong Kong Stock Exchange, the Company and/or China Securities Journal, Shanghai Securities News, Securities Times and Securities Daily. On 21 April 2026, the CSRC issued the Regulatory Rules for the Board Secretaries of Listed Companies, requiring companies to facilitate and safeguard the active performance of duties by their board secretaries. In accordance with the above requirements and in light of its actual circumstances, the Company has revised its Work System for the Board Secretary.
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46 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 4 COMPANY GOVERNANCE, ENVIRONMENT AND SOCIETY – CONTINUED For details, please refer to the announcement of resolutions of the first meeting of the tenth session of the Board dated 26 June 2026. Such information is published on the websites of the SSE, the Hong Kong Stock Exchange, the Company and/or China Securities Journal, Shanghai Securities News, Securities Times and Securities Daily. As considered and approved at the first meeting of the tenth session of the Board of the Company on 26 June 2026, the Company revised the Rules of Procedure of the Strategy and Development Committee under the Board and the Rules of Procedure of the Sustainable Development Committee under the Board, so as to ensure compliance with regulatory requirements and alignment with its actual circumstances. For details, please refer to the announcement of resolutions of the first meeting of the tenth session of the Board dated 26 June 2026. Such information is published on the websites of the SSE, the Hong Kong Stock Exchange, the Company and/or China Securities Journal, Shanghai Securities News, Securities Times and Securities Daily. V. COMPLIANCE WITH CORPORATE GOVERNANCE CODE & MODEL CODE FOR SECURITIES TRANSACTIONS BY DIRECTORS OF LISTED ISSUERS (THE “MODEL CODE”) (Prepared in accordance with the Hong Kong Regulatory Requirements for Listing) The Board believes that good corporate governance is very important to the operation and development of the Group. The Group has established a relatively standardized and stable corporate governance structure, following the corporate governance principles of transparency, accountability, and safeguarding the rights and interests of all Shareholders. The Group has established the reporting system to all Directors, to ensure all Directors are informed of the Company’s business. The Group believes that the regular Board meetings can provide an effective communication channel for the non-executive Directors, thus enabling the non-executive Directors to discuss fully and openly on the Group’s business. The Board regularly reviews corporate governance practices to ensure the Company’s operation is in compliance with the laws, regulations and supervisory rules of places where the shares of the Company are traded, and consistently endeavors to implement a high standard of corporate governance. The documentation for the corporate governance practices implemented by the Group include, but not limited to the followings: the Articles, the Rules of Procedures for the General Meeting of Shareholders, the Rules of Procedures for the Board, the Detailed Work Policy of the General Manager, the Rules of Procedure of the General Manager Office Meeting, the Work Policy of the Independent Directors, the Rules for the Management of Board Authorization, Work System for the Board Secretary, the Rules for Disclosure of Information, the Administrative Measures for the Related Transactions, the Rules for the Management of Relationships with Investors, the Management System of Shares Held Related by Directors, Senior Management and Insiders and the Relevant Changes, the Rules for Monitoring and Assessment of the Implementation of the Resolutions of the Board, Administrative Measures for Property Rights Representatives, the Standard of Conduct and Professional Ethics for Senior Employees, the Management Measures on the Establishment of Internal Control System, the Measures on Overall Risk Management, the Administrative Measures for Market Values, the Information Disclosure Delay and Waiver Management System, and the Remuneration Management System. As of the disclosure date of this report, the documentation for the corporate governance practices adopted by the Group also includes the Corporate Governance Code contained in the Hong Kong Listing Rules, and the operation of the corporate governance of the Group is compliant with the requirements of the Corporate Governance Code. The Company has fully complied with the code provisions as set out in Part 2 of the Corporate Governance Code.
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47 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 4 COMPANY GOVERNANCE, ENVIRONMENT AND SOCIETY – CONTINUED The Company has strictly complied with the above documentation for the corporate governance practices and the Corporate Governance Code without any deviation. After making specific inquiries to all Directors and senior management, the Company confirmed that the Directors and senior management of the Company have strictly complied with the standards for the conduct of securities transactions as set out in the Model Code and the Management System of Securities Held and Transacted by Directors, Senior Management and Insiders. The Company has adopted a code of conduct not less than the Model Code for the securities transactions of Directors and Senior Management. For details, please refer to the Report on Corporate Governance of the Company included in 2025 annual report of the Company. VI. INVESTOR RELATIONS In accordance with the regulatory requirements of the place of listing, the Company has been continuously improving the system for the management of relationships with investors, and improved standard management of investor relations. During the reporting period, the Company reported the business situation to investors face-to-face and at the same time acknowledged the opinions and suggestions of investors and the capital market on the Company by means of road shows, anti-road shows and other methods. The Company actively held regular performance report briefings and took the initiative to hold investor briefings on relevant major issues. In addition to regular channels such as SSE e-interaction, investor briefings, the Company responded to investor enquiry and opinions by telephone, email, We-chat and other media, or sought opinions and suggestions from investors for improvement, and communicated with analysts, fund managers and investors for 1,560 persons. VII. ENVIRONMENTAL INFORMATION OF LISTED COMPANIES AND THEIR MAJOR SUBSIDIARIES INCLUDED IN THE LIST OF ENTERPRISES SUBJECT TO MANDATORY ENVIRONMENTAL INFORMATION DISCLOSURE Number of Enterprises Included in the List of Enterprises Subject to Mandatory Environmental Information Disclosure 35 No. Name of enterprises Index for accessing the report on mandatory environmental information disclosure 1 Yankuang Energy Group Company Limited Nantun Coal Mine Enterprise Environmental Information Disclosure System (Shandong) http://221.214.62.226:8090/EnvironmentDisclosure/enterpriseRoster/openEnterpriseDetails ?comDetailFrom=0&id=91370000706096972T 2 Yankuang Energy Group Company Limited Xinglongzhuang Coal Mine Enterprise Environmental Information Disclosure System (Shandong) http://221.214.62.226:8090/EnvironmentDisclosure/enterpriseRoster/openEnterpriseDetails ?comDetailFrom=0&id=91370000706220283T 3 Yankuang Energy Group Company Limited Baodian Coal Mine Enterprise Environmental Information Disclosure System (Shandong) http://221.214.62.226:8090/EnvironmentDisclosure/enterpriseRoster/openEnterpriseDetails ?comDetailFrom=0&id=91370000706096999J 4 Yankuang Energy Group Company Limited Dongtan Coal Mine Enterprise Environmental Information Disclosure System (Shandong) http://221.214.62.226:8090/EnvironmentDisclosure/enterpriseRoster/openEnterpriseDetails ?comDetailFrom=0&id=91370000706096980M 5 Yankuang Energy Group Company Limited Jining No.2 Coal Mine Enterprise Environmental Information Disclosure System (Shandong) http://221.214.62.226:8090/EnvironmentDisclosure/enterpriseRoster/openEnterpriseDetails ?comDetailFrom=0&id=91370000706092808K
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48 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 4 COMPANY GOVERNANCE, ENVIRONMENT AND SOCIETY – CONTINUED No. Name of enterprises Index for accessing the report on mandatory environmental information disclosure 6 Yankuang Energy Group Company Limited Jining No.3 Coal Mine Enterprise Environmental Information Disclosure System (Shandong) http://221.214.62.226:8090/EnvironmentDisclosure/enterpriseRoster/openEnterpriseDetails ?comDetailFrom=0&id=913700007267048323 7 Yankuang Energy Group Company Limited Yangcun Coal Mine Enterprise Environmental Information Disclosure System (Shandong) http://221.214.62.226:8090/EnvironmentDisclosure/enterpriseRoster/openEnterpriseDetails ?comDetailFrom=0&id=913700001660825360 8 Yanmei Heze Neng Hua Company Limited Zhaolou Coal Mine Enterprise Environmental Information Disclosure System (Shandong) http://221.214.62.226:8090/EnvironmentDisclosure/enterpriseRoster/openEnterpriseDetails ?comDetailFrom=0&id=91370000692003957B 9 Yancoal Wanfu Energy Co., Ltd. Enterprise Environmental Information Disclosure System (Shandong) http://221.214.62.226:8090/EnvironmentDisclosure/enterpriseRoster/openEnterpriseDetails ?comDetailFrom=0&id=91371724MA3F1GKX2M 10 Shandong Yankuang Jining No.3 Power Co., Ltd. Enterprise Environmental Information Disclosure System (Shandong) http://221.214.62.226:8090/EnvironmentDisclosure/enterpriseRoster/openEnterpriseDetails ?comDetailFrom=0&id=91370800771045952K 11 Yanmei Heze Neng Hua Company Limited Enterprise Environmental Information Disclosure System (Shandong) http://221.214.62.226:8090/EnvironmentDisclosure/enterpriseRoster/openEnterpriseDetails ?comDetailFrom=0&id=91370000754456581B 12 Yankuang Lunan Chemicals Co., Ltd. Enterprise Environmental Information Disclosure System (Shandong) http://221.214.62.226:8090/EnvironmentDisclosure/enterpriseRoster/openEnterpriseDetails ?comDetailFrom=0&id=913704006644327461 13 Ordos Zhuanlongwan Coal Co., Ltd. Enterprise Environmental Information Disclosure System (Inner Mongolia) http://111.56.142.62:40010/support-yfpl-web/web/viewRunner.html?viewId=ht tp://111.56.142.62:40010/support-yfpl-web/web/sps/views/yfpl/views/yfplYearReport/index. js&keyword=%E9%84%82%E5%B0%94%E5%A4%9A%E6%96%AF%E5%B8%82%E8%B D%AC%E9%BE%99%E6%B9%BE%E7%85%A4%E7%82%AD%E6%9C%89%E9%99%9 0%E5%85%AC%E5%8F%B8 14 Inner Mongolia Haosheng Coal Mining Company Limited Enterprise Environmental Information Disclosure System (Inner Mongolia) http://111.56.142.62:40010/support-yfpl-web/web/viewRunner.html?viewId=ht tp://111.56.142.62:40010/support-yfpl-web/web/sps/views/yfpl/views/yfplYearReport/index. js&keyword=%E5%86%85%E8%92%99%E5%8F%A4%E6%98%8A%E7%9B%9B%E7%8 5%A4%E4%B8%9A%E6%9C%89%E9%99%90%E5%85%AC%E5%8F%B8 15 Ordos Yingpanhao Coal Mining Company Limited Enterprise Environmental Information Disclosure System (Inner Mongolia) http://111.56.142.62:40010/support-yfpl-web/web/viewRunner.html?viewId=ht tp://111.56.142.62:40010/support-yfpl-web/web/sps/views/yfpl/views/yfplYearReport/index. js&keyword=%E9%84%82%E5%B0%94%E5%A4%9A%E6%96%AF%E5%B8%82%E8%9 0%A5%E7%9B%98%E5%A3%95%E7%85%A4%E7%82%AD%E6%9C%89%E9%99%90 %E5%85%AC%E5%8F%B8
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49 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 4 COMPANY GOVERNANCE, ENVIRONMENT AND SOCIETY – CONTINUED No. Name of enterprises Index for accessing the report on mandatory environmental information disclosure 16 Inner Mongolia Rongxin Chemicals Co., Ltd. Enterprise Environmental Information Disclosure System (Inner Mongolia) http://111.56.142.62:40010/support-yfpl-web/web/viewRunner.html?viewId=ht tp://111.56.142.62:40010/support-yfpl-web/web/sps/views/yfpl/views/yfplYearReport/index. js&keyword=%E5%86%85%E8%92%99%E5%8F%A4%E8%8D%A3%E4%BF%A1%E5%8 C%96%E5%B7%A5%E6%9C%89%E9%99%90%E5%85%AC%E5%8F%B8 17 Ulanqab Hongda Industrial Co., Ltd. Enterprise Environmental Information Disclosure System (Inner Mongolia) http://111.56.142.62:40010/support-yfpl-web/web/viewRunner.html?viewId=ht tp://111.56.142.62:40010/support-yfpl-web/web/sps/views/yfpl/views/yfplYearReport/index. js&keyword=%E4%B9%8C%E5%85%B0%E5%AF%9F%E5%B8%83%E5%B8%82%E5% AE%8F%E5%A4%A7%E5%AE%9E%E4%B8%9A%E6%9C%89%E9%99%90%E5%85%A C%E5%8F%B8 18 Shaanxi Future Energy Chemicals Co. Ltd. Enterprise Environmental Information Disclosure System (Shaanxi) http://113.140.66.227:11077/#/noLogin/qymd?key=%E9%99%95%E8%A5%BF%E6%9C %AA%E6%9D%A5%E8%83%BD%E6%BA%90%E5%8C%96%E5%B7%A5%E6%9C%89 %E9%99%90%E5%85%AC%E5%8F%B8 19 Yanzhou Coal Yulin Neng Hua Company Limited Enterprise Environmental Information Disclosure System (Shaanxi) http://113.140.66.227:11077/#/noLogin/qymd?key=%E5%85%96%E5%B7%9E%E7%85% A4%E4%B8%9A%E6%A6%86%E6%9E%97%E8%83%BD%E5%8C%96%E6%9C%89%E 9%99%90%E5%85%AC%E5%8F%B8 20 Yankuang Yulin Fine Chemicals Co., Ltd. Enterprise Environmental Information Disclosure System (Shaanxi) http://113.140.66.227:11077/#/noLogin/qymd?key=%E5%85%96%E7%9F%BF%E6%A6% 86%E6%9E%97%E7%B2%BE%E7%BB%86%E5%8C%96%E5%B7%A5%E6%9C%89%E 9%99%90%E5%85%AC%E5%8F%B8 21 Shandong Xinjulong Energy Co., Ltd. Enterprise Environmental Information Disclosure System (Shandong) http://221.214.62.226:8090/EnvironmentDisclosure/enterpriseRoster/openEnterpriseDetails ?comDetailFrom=0&id=913700007563990580 22 Guotun Coal Mine of Linyi Mining Group Heze Coal-fired Power Co., Ltd. Enterprise Environmental Information Disclosure System (Shandong) http://221.214.62.226:8090/EnvironmentDisclosure/enterpriseRoster/openEnterpriseDetails ?comDetailFrom=0&id=913700006731531087 23 Shandong Lilou Coal Mining Co., Ltd Enterprise Environmental Information Disclosure System (Shandong) http://221.214.62.226:8090/EnvironmentDisclosure/enterpriseRoster/openEnterpriseDetails ?comDetailFrom=0&id=91370000795346514H 24 Pengzhuang Coal Mine of Linyi Mining Group Heze Coal-fired Power Co., Ltd. Enterprise Environmental Information Disclosure System (Shandong) http://221.214.62.226:8090/EnvironmentDisclosure/enterpriseRoster/openEnterpriseDetails ?comDetailFrom=0&id=913700006731531162 25 Feicheng Mining Group Shanxian Energy Co., Ltd. Enterprise Environmental Information Disclosure System (Shandong) http://221.214.62.226:8090/EnvironmentDisclosure/enterpriseRoster/openEnterpriseDetails ?comDetailFrom=0&id=9137000067452090X9 26 Shandong Tangkou Coal Industry Co., Ltd. Enterprise Environmental Information Disclosure System (Shandong) http://221.214.62.226:8090/EnvironmentDisclosure/enterpriseRoster/openEnterpriseDetails ?comDetailFrom=0&id=913700006667367359
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50 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 4 COMPANY GOVERNANCE, ENVIRONMENT AND SOCIETY – CONTINUED No. Name of enterprises Index for accessing the report on mandatory environmental information disclosure 27 Feicheng Mining Group Liangbaosi Energy Co., Ltd. Enterprise Environmental Information Disclosure System (Shandong) http://221.214.62.226:8090/EnvironmentDisclosure/enterpriseRoster/openEnterpriseDetails ?comDetailFrom=0&id=91370000779717557X 28 Yankuang Xinjiang Coal Chemicals Co., Ltd. Enterprise Environmental Information Disclosure and Credit Evaluation System of Xinjiang Uygur Autonomous Region https://124.117.235.203:9015/index 29 Shaanxi Zhengtong Coal Industry Co., Ltd. Enterprise Environmental Information Disclosure System (Shaanxi) http://113.140.66.227:11077/#/noLogin/qymd?key=%E9%99%95%E8%A5%BF%E6%AD %A3%E9%80%9A%E7%85%A4%E4%B8%9A%E6%9C%89%E9%99%90%E8%B4%A3% E4%BB%BB%E5%85%AC%E5%8F%B8 30 Huaneng Lingtai Shaozhai Coal Industry Co., Ltd. Enterprise Environmental Information Disclosure System (Gansu) https://zwfw.sthj.gansu.gov.cn/revealPubVue/#/home 31 Shaanxi Changwu Tingnan Coal Industry Co., Ltd. Enterprise Environmental Information Disclosure System (Shaanxi) http://113.140.66.227:11077/#/noLogin/qymd?key=%E9%99%95%E8%A5%BF%E9%95 %BF%E6%AD%A6%E4%BA%AD%E5%8D%97%E7%85%A4%E4%B8%9A%E6%9C%89 %E9%99%90%E8%B4%A3%E4%BB%BB%E5%85%AC%E5%8F%B8 32 Shanxi Shuozhou Pinglu District Longkuang Daheng Coal Industry Co., Ltd. Enterprise Environmental Information Disclosure System (Shuozhou) http://111.53.19.139:8081/#/DisclosureDetail/1902248354006614018/2025 33 Inner Mongolia Huangtaolegai Coal Co., Ltd (Bayan Gaole Coal Mine) Enterprise Environmental Information Disclosure System (Inner Mongolia) http://111.56.142.62:40010/support-yfpl-web/web/viewRunner.html?viewId=ht tp://111.56.142.62:40010/support-yfpl-web/web/sps/views/yfpl/views/yfplYearReport/index. js&keyword=%E5%B7%B4%E5%BD%A6%E9%AB%98%E5%8B%92%E7%85%A4%E7% 9F%BF 34 Liuyuanzi Coal Mine Branch of Gansu Huaneng Tianjun Energy Co., Ltd. Enterprise Environmental Information Disclosure System (Gansu) https://zwfw.sthj.gansu.gov.cn/revealPubVue/#/home 35 Inner Mongolia Huangtaolegai Coal Co., Ltd. (Shilin Chemical Branch) Enterprise Environmental Information Disclosure System (Inner Mongolia) http://111.56.142.62:40010/support-yfpl-web/web/viewRunner.html?viewId=ht tp://111.56.142.62:40010/support-yfpl-web/web/sps/views/yfpl/views/yfplYearReport/index. js&keyword=%E5%86%85%E8%92%99%E5%8F%A4%E9%BB%84%E9%99%B6%E5%8 B%92%E7%9B%96%E7%85%A4%E7%82%AD%E6%9C%89%E9%99%90%E8%B4%A3 %E4%BB%BB%E5%85%AC%E5%8F%B8%EF%BC%88%E4%B8%96%E6%9E%97%E5 %8C%96%E5%B7%A5%E5%88%86%E5%85%AC%E5%8F%B8%EF%BC%89 Other explanations Not applicable.
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51 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 4 COMPANY GOVERNANCE, ENVIRONMENT AND SOCIETY – CONTINUED VIII. DETAILS OF EFFORTS TO CONSOLIDATE AND EXPAND ACHIEVEMENTS IN POVERTY ALLEVIATION AND RURAL REVITALISATION The Company actively responded to the national strategy for rural revitalisation by implementing initiatives in organisational, industrial, cultural and ecological revitalisation, deepening cooperation between local governments and enterprises, improving local livelihoods and driving economic growth based on local conditions, and continuously consolidating and expanding the achievements in poverty alleviation. In the first half of 2026, the Company made charitable donations totalling RMB7.5258 million, primarily to support local governments in implementing public welfare projects in livelihood security, education development, and infrastructure improvement. Organisational revitalisation: The Company has incorporated paired assistance into its annual work plan, formulated both annual and medium-to-long-term assistance programmes, and assigned dedicated personnel to strengthen communication and liaison with assisted villages and towns, conduct field visits and household surveys, and implement tailored measures based on local conditions and specific needs. For instance, we funded a piped drinking- water project to deliver water to hillside households in Xiaozhai Village, Macha Town, Zizhou County, Yulin City, benefiting 550 residents. Industrial revitalisation: The Company has deepened the model of “village-enterprise co-development”. By supporting the development of local characteristic industries and ensuring coal supply for winter heating, the Company helped improve the production and living conditions of local residents and promotes steady development of the local economy. For instance, the Company donated coal for people’s livelihood supply to Qapqal Xibe Autonomous County, Ili Kazakh Autonomous Prefecture, benefiting 2,810 residents. Cultural revitalisation: The Company has supported local cultural development and advanced the cause of education. For example, it donated RMB500,000 to the Baode County Education Foundation of Xinzhou City for education- oriented student grants, so as to foster the endogenous driving force for rural development. Ecological revitalisation: The Company is committed to improving the rural natural environment and residents’ living conditions by actively supporting local ecological protection and restoration projects, participating in greening activities, and contributing to the construction of ecological civilisation in rural areas, working hand in hand with local residents to build a better living environment.
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CHAPTER 5 SIGNIFICANT EVENTS 52 Yankuang Energy Group Company Limited Interim Report 2026 (The financial data listed in this section are calculated in accordance with CASs) I. PERFORMANCE OF UNDERTAKINGS (I) Undertakings of the De facto Controller of the Company, the Shareholders, the Related Parties, the Buyer, the Company and Other Related Parties During the Reporting Period or Extended to the Reporting Period Background Type Undertaker Undertakings Date of undertakings With performance deadline or not Period of commitment Perform timely and strictly or not Reasons for failure of performance timely Measures in case of failure of performance timely Undertakings related to IPO Resolve horizontal competition Shandong Energy Avoidance of horizontal competition: Shandong Energy and the Company entered into the restructuring agreement when the Company was carrying out the restructuring in 1997, pursuant to which Shandong Energy undertook that it would take various effective measures to avoid horizontal competition with the Company. 1997 No Long-term effective Yes Under normal performance None Other undertakings Others Shandong Energy Shandong Energy made undertakings in relation to finance business with Shandong Energy Finance Company as followings: 26 August 2022 No Long-term effective Yes Under normal performance None
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53 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED Background Type Undertaker Undertakings Date of undertakings With performance deadline or not Period of commitment Perform timely and strictly or not Reasons for failure of performance timely Measures in case of failure of performance timely 1. In view of the independence of Yankuang Energy in assets, business, personnel, finance and other aspects from Shandong Energy, Shandong Energy will continue to maintain the independence of Yankuang Energy and fully respect its autonomy in management; Yankuang Energy and its subsidiary, Shandong Energy Finance Company will decide on the financial business between Shandong Energy Finance Company and Shandong Energy on its own based on the requirements of business development in compliance with relevant supervisory regulations and the rules of procedures for decisionmaking as stipulated in the Articles and the Articles of Shandong Energy Group Finance Co., Ltd. 2. To ensure the safety of the Company’s fund managed by Shandong Energy Finance Company, Shandong Energy and its controlled companies undertook to carry out financial business with Shandong Energy Finance Company in accordance with laws and regulations, and will not appropriate the Company’s fund through Shandong Energy Finance Company in any other forms. 3. In case Shandong Energy and its controlled companies misappropriated any capital fund of Yankuang Energy through Shandong Energy Finance Company or in any other form and caused any loss, Shandong Energy and its controlled companies will make full amount compensation in cash. 4. Shandong Energy undertook to strictly abide by the relevant rules and regulations of the CSRC, the Shanghai Stock Exchange and the Articles, exercise the Shareholder’s rights and perform the Shareholder’s obligations as equally as other Shareholders, and neither seek unfair interest by use of the position as the Controlling Shareholder, nor impair the legal interests of Yankuang Energy and other public Shareholders.
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54 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED Background Type Undertaker Undertakings Date of undertakings With performance deadline or not Period of commitment Perform timely and strictly or not Reasons for failure of performance timely Measures in case of failure of performance timely Others Xinwen Mining Group Co., LTD., Longkou Mining Group Co., LTD., Zibo Mining Group Co., LTD., Feicheng Feikuang Coal Industry Co., Ltd., Linyi Mining Group Co., LTD. (hereinafter collectively referred to as the “Transferor”) The Transferor has made the following commitments to Yankuang Energy in connection with the acquisition of 51% equity of Luxi Mining by Yankuang Energy’s (the “Transferee”): 28 April 2023 No Long-term effective Yes Under normal performance None 1. If the relevant government authorities take disposal measures such as limiting production, stopping production, closing down and retreating from coal mines of subsidiaries of Luxi Mining Group in accordance with Ludongneng (2021) No. 3, Luzhengzi (2021) No. 143 or relevant implementing regulations after the settlement day of this transaction, the Transferor undertakes: (1) The Transferor shall give corresponding compensation to the Transferee; (2) If the Transferor and the Transferee fail to reach a consensus on the aforesaid specific compensation amount, the Transferee may notify the Transferor in writing to terminate the Equity Transfer Agreement, and the Transferor shall return the equity transfer price paid. 2. In addition to the mining rights whose proceeds of the transfer has been deducted, for the four mining rights namely Guotun Coal Mine, Pengzhuang Coal Mine, Liangbaosi Coal Mine and Chenmanzhuang Coal Mine that have been disposed by cash, national capital and other means of compensation, if the mining rights transfer proceeds are levied by the relevant competent authorities on the resource reserves within the scope of the relevant mining rights evaluation in this transaction and the above-mentioned transfer proceeds are not reflected in the audit report of this transaction after the settlement day of this transaction, then: (1) The Transferor shall compensate the Transferee in cash according to the amount of transfer proceeds levied on these subsidiaries (the amount of compensation shall be the amount of transfer proceeds levied Ò51%Òthe proportion of equity held by Luxi Mining in these subsidiaries);
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55 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED Background Type Undertaker Undertakings Date of undertakings With performance deadline or not Period of commitment Perform timely and strictly or not Reasons for failure of performance timely Measures in case of failure of performance timely (2) The Transferor shall make cash compensation to the Transferee for the remaining part of the corresponding resource reserves in this transaction that has not been calculated and collected according to the rate of return on the transfer of mining rights at the time of the sale of mineral products (if applicable); (3) The amount of compensation to the Transferee shall be limited to the amount contained in the mining rights evaluation report quoted in the evaluation report based on the Equity Transfer Agreement Ò51%Ò the proportion of equity held by Luxi Mining in such subsidiaries. Others Xinwen Mining Group Co., LTD., Shandong Energy (hereinafter collectively referred to as the “Transferor”) The Transferor has made the following commitments to Yankuang Energy in connection with Yankuang Energy’s (the “Transferee”) acquisition of 51% equity of Xinjiang Neng Hua: 28 April 2023 No Long-term effective Yes With regard to the commitment of the exploration right renewal of Huangcaohu, Xinjiang Neng Hua has completed the renewal in May 2023 and made the commitment that other parts will be fulfilled normally. None
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56 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED Background Type Undertaker Undertakings Date of undertakings With performance deadline or not Period of commitment Perform timely and strictly or not Reasons for failure of performance timely Measures in case of failure of performance timely 1. As of 28 April 2023, the valid period of exploration rights held by Xinjiang Neng Hua in Huangcaohu 1-11 exploration areas, Qitai County, Zhundong Coal Field, Xinjiang, has expired. The Transferor undertakes to actively urge and assist Xinjiang Neng Hua to complete the registration procedures for the change of exploration rights as soon as possible. If Xinjiang Neng Hua is subject to losses due to its inability to complete the registration procedures for the change of exploration rights on time after the settlement day of this transaction, the Transferor shall compensate the Transferee at that time. 2. In addition to the mining rights whose proceeds of the transfer has been deducted, for the two mining rights namely Baosheng Coal Mine and Hongshanwa Coal Mine that are disposed in a compensated way, after the delivery date of this transaction, if the mining rights transfer proceeds are levied by the relevant competent authorities on the resource reserves within the scope of the relevant mining rights evaluation in this transaction and the above-mentioned transfer proceeds are not reflected in the audit report of this transaction after the settlement day of this transaction, then: (1) The Transferor shall make cash compensation to the Transferee within 30 days after the payment obligations are specified according to the amount of transfer proceeds levied on these subsidiaries (the amount of compensation shall be the amount of transfer proceeds levied Ò51%Ò the proportion of equity held by Xinjiang Neng Hua in its subsidiaries); (2) The Transferor shall make cash compensation to the Transferee for the remaining part of the corresponding resource reserves in this transaction that has not been calculated and collected according to the rate of return on the transfer of mining rights at the time of the sale of mineral products (if applicable);
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57 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED Background Type Undertaker Undertakings Date of undertakings With performance deadline or not Period of commitment Perform timely and strictly or not Reasons for failure of performance timely Measures in case of failure of performance timely (3) The amount of compensation to the Transferee shall be limited to the amount contained in the mining rights evaluation report quoted in the evaluation report based on the Equity Transfer Agreement Ò51%Ò the proportion of equity held by Xinjiang Neng Hua in such subsidiaries. Others Xinwen Mining Group Co., Ltd., Longkou Mining Group Co., Ltd., Zibo Mining Group Co., Ltd., Feicheng Feikuang Coal Industry Co., Ltd., Linyi Mining Group Co., Ltd. (hereinafter collectively referred to as the “Transferor”) The Transferor makes the following commitments regarding the operating result of Luxi Mining (the “Target Company”) for 2023-2025: 28 April 2023 Yes 2023-2025 Yes Fully performed None 1. For 2023-2025 (the “Commitment Period”), the Target Company’s audited net profit attributable to the Shareholders of the parent company after deducting non-recurring gains and losses (the “Net Profit”) during the Commitment Period shall not be less than RMB11.4248014 billion (the “Cumulative Committed Net Profit During the Commitment Period”) according to CASs. 2. If the Target Company fails to achieve the Cumulative Net Profit During The Commitment Period, the Transferor will compensate Yankuang Energy in cash. The specific compensation amount shall be calculated as follows: Performance compensation amount for the Commitment Period = (Cumulative Committed Net Profit During The Commitment Period – cumulative realized net profit for the Commitment Period) Ó cumulative committed net profit for the Commitment Period Ò the price of the underlying equity transaction – other compensated amount. Others Xinwen Mining Group Co., LTD., Shandong Energy (hereinafter collectively referred to as the “Transferor”) The Transferor makes the following commitments regarding the operating results of Xinjiang Neng Hua (the “Target Company”) for 2023-2025: 28 April 2023 Yes 2023-2025 Yes Fully performed None
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58 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED Background Type Undertaker Undertakings Date of undertakings With performance deadline or not Period of commitment Perform timely and strictly or not Reasons for failure of performance timely Measures in case of failure of performance timely 1. For 2023-2025 (the “Commitment Period”), the Target Company’s audited net profit attributable to the Shareholders of the parent company after deducting non-recurring gains and losses (the “Net Profit”) during the Commitment Period shall be no less than RMB4.0134561 billion (the “Cumulative Committed Net Profit During The Commitment Period”) according to CASs. 2. If the Target Company fails to achieve the cumulative net profit during the Commitment Period, the Transferor will compensate Yankuang Energy in cash, and the specific compensation amount shall be calculated as follows: Performance compensation amount for the Commitment Period = (Cumulative Committed Net Profit During The Commitment Period – cumulative realized net profit for the Commitment Period) Ó Cumulative Committed Net Profit During The Commitment Period Ò price of the underlying equity transaction – other compensated amount.
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59 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED Background Type Undertaker Undertakings Date of undertakings With performance deadline or not Period of commitment Perform timely and strictly or not Reasons for failure of performance timely Measures in case of failure of performance timely Others Fujian Dongju Technology Co., Ltd., Fujian Dongpu Investment Center (Limited Partnership), Fujian Dongzhen Investment Center (Limited Partnership), Fujian Dongxi Investment Center (Limited Partnership), Fujian Dongbo Investment Center (Limited Partnership), Fujian Dongwo Investment Center (Limited Partnership), Fujian Dongchuang Investment Center (Limited Partnership), Fujian Dongtan Investment Center (Limited Partnership), Fujian Dongsha Investment Center (Limited Partnership), Fujian Dongda Investment Center (Limited Partnership), Jingdian (Fujian) International Trade Co., Ltd., Fujian Dongtou Investment Center (Limited Partnership), Dongming Industry Group Co., Ltd. (hereinafter collectively referred to as the “Undertakers”) The Undertakers make the following undertakings regarding the operating results of Wubo Technology (the “Target Company”) for 2024-2028: 31 May 2024 Yes 2024-2028 Yes Under normal performance None 1. The audited net profit attributable to the Shareholders of the parent company, excluding non-recurring gains and losses (the “Net Profit”), of the Target Company for 2024-2028 shall not be less than RMB98.7537 million, RMB109.3141 million, RMB115.8510 million, RMB126.8099 million, and RMB139.0910 million, respectively according to CASs. 2. If the Target Company fails to achieve the above committed results by the end of any assessment year, the Transferor will compensate Yankuang Energy in cash, and the specific compensation amount shall be calculated as follows: Performance compensation amount for the Commitment Period = (cumulative committed net profit by the end of the period – cumulative actual net profit by the end of the period) Ó total committed net profit for each year within the profit Commitment Period Ò the cash capital increase amount of this transaction – cumulative compensated amount.
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60 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED Background Type Undertaker Undertakings Date of undertakings With performance deadline or not Period of commitment Perform timely and strictly or not Reasons for failure of performance timely Measures in case of failure of performance timely Others Zibo Mining Group Co., Ltd., Longkou Mining Group Co., Ltd., Xinwen Mining Group Co., Ltd., and Feicheng Feikuang Coal Industry Co., Ltd. (collectively referred to as the “Transferors”) The Transferors have made the following undertakings in respect of the mining rights of Xibei Mining (the “Target Company”): 8 April 2025 No Long-term effective Yes Regarding the commitment to converting exploration rights to mining rights for the Mafuchuan mining blocks and Maojiachuan mining blocks, Xibei Mining has obtained the mining licenses for both the Mafuchuan and Maojiachuan mining blocks in August 2025. The remaining portions of the commitment are being fulfilled as planned. No 1. Upon the effectiveness of the Equity Acquisition and Capital Injection Agreement, the Transferors undertake that: (1) If the exploration rights of Mafuchuan or Maojiachuan mining blocks cannot be converted into mining rights or retained, the Transferors shall compensate the Transferee. The specific compensation amount shall be calculated as: the reduction in value of the exploration rights as assessed using the parameters in the transaction Valuation Report Ò 55% Ò 51%i (2) If the exploration permits for Mafuchuan or Maojiachuan mining blocks are not renewed or are revoked by the competent authorities, the Transferors shall compensate the Transferee. The compensation amount shall be calculated as: the assessed value of the relevant exploration rights Ò 55% Ò 51% (If the competent authorities provide compensation for the revocation of the exploration right, such compensation shall be deducted from the above compensation amount). 2. After the transaction closing date, if the competent authorities determine that any subsidiary of Xibei Mining had outstanding mining rights transfer proceeds payable prior to the valuation benchmark date of this transaction, and such amounts were not reflected in the Valuation Report or the relevant audit report of this transaction, then: (1) The undertaking party shall compensate the Transferee in cash for the actual amount of such proceeds to be paid by the relevant subsidiary (compensation amount = actual amount of the transfer proceeds to be paid Ò 51% Ò proportion of the equity interest held by Xibei Mining in the subsidiary);
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61 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED Background Type Undertaker Undertakings Date of undertakings With performance deadline or not Period of commitment Perform timely and strictly or not Reasons for failure of performance timely Measures in case of failure of performance timely (2) For any remaining resources within the resources corresponding to this transaction which have not yet been assessed for mineral rights transfer proceeds based on the transfer proceeds rate at the time of mineral product sales, the Transferors shall also provide cash compensation to the Transferee; (3) The aggregate compensation amount payable by the Transferors to the Transferee for matters relating to any subsidiary of Xibei Mining shall not exceed (assessed value of the relevant mining right in this transaction Ò 51% Ò proportion of Xibei Mining’s equity interest in the subsidiary holding such mining right). The Transferors shall bear compensation liability up to the amount of the transfer consideration and capital injection consideration, respectively. 3. With respect to the mining rights of Yangjiacun Coal Mine, Youfanghao Coal Mine, and Bayan Gaole Coal Mine, if, after the transaction completion date, the competent governmental authorities, due to the failure or partial failure to implement the relevant conversion projects, impose collection of transfer proceeds on the resource reserves allocated to such projects (in addition to the transfer proceeds collected from Xibei Mining or its subsidiaries):
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62 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED Background Type Undertaker Undertakings Date of undertakings With performance deadline or not Period of commitment Perform timely and strictly or not Reasons for failure of performance timely Measures in case of failure of performance timely (1) If any allocated resource reserves are revoked, the Transferors shall compensate the Transferee. The specific compensation amount shall be calculated as: revoked resource reserves Ó resource reserves corresponding to the mining rights in this transaction Ò assessed value of the relevant mining rights corresponded to this transaction Ò 51% Ò proportion of equity interest held by Xibei Mining in the relevant subsidiary; (2) If Xibei Mining or the company holding such mining right suffers losses due to other liabilities imposed, the Transferors shall provide corresponding compensation to the Transferee. Others Zibo Mining Group Co., Ltd., Longkou Mining Group Co., Ltd., Xinwen Mining Group Co., Ltd., and Feicheng Feikuang Coal Industry Co., Ltd. (collectively referred to as the “Transferors”) The Transferors make the following undertakings regarding the operating results of Xibei Mining (the “Target Company”) for 2025 to 2027: 8 April 2025 Yes 2025-2027 Yes Under normal performance None 1. For 2025 to 2027 (the “Commitment Period”), calculated in accordance with the CASs, the audited net profit attributable to Shareholders of the parent company of the Target Company, after deducting non-recurring gains and losses (the “Net Profit”), shall not be less than RMB7,121.9341 million in aggregate for the Commitment Period (the “Cumulative Committed Net Profit During The Commitment Period”). 2. If the Target Company fails to achieve the Cumulative Committed Net Profit During The Commitment Period, the Transferors shall compensate Yankuang Energy in cash. The compensation amount shall be the higher of the following two calculations:
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63 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED Background Type Undertaker Undertakings Date of undertakings With performance deadline or not Period of commitment Perform timely and strictly or not Reasons for failure of performance timely Measures in case of failure of performance timely (1) Compensation amount during the Commitment Period = (Cumulative Committed Net Profit During The Commitment Period – cumulative actual net profit) Ò 51%; (2) Compensation amount for the Commitment Period = (valuation of this transaction – valuation at the end of the Commitment Period) Ò 51% (if the result is less than zero, it shall be deemed as zero). Others Shandong Energy and Yankuang Group (Hong Kong) Company Limited (hereinafter collectively referred to as the “Transferor”) The Transferor made the following commitments regarding the operating performance of Shandong Energy Group New Energy Group Co., Ltd. (ঐ๕ණ ʮ̡) (the “New Energy Group” and “Target Company”) from 2026 to 2028: 3 June 2026 Yes 2026-2028 Yes Under normal performance None 1. From 2026 to 2028 (the “Commitment Period”), the audited net profit attributable to shareholders of the parent company after deducting non-recurring gains and losses (the “Net Profit”) of the Target Company, calculated in accordance with the Chinese Accounting Standards, shall be not less than approximately RMB3,058.6036 million in aggregate during the Performance Commitment Period (the “Accumulated Committed Net Profit during the Commitment Period”).
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64 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED Background Type Undertaker Undertakings Date of undertakings With performance deadline or not Period of commitment Perform timely and strictly or not Reasons for failure of performance timely Measures in case of failure of performance timely 2. Upon expiry of the Commitment Period, the Transferor shall, with the transfer consideration as the upper limit and for the purpose of adjusting and reflecting the appraised value at the End of the Commitment Period, pay the relevant amount to Yankuang Energy in cash. The compensation shall be the higher of the amounts calculated by the following two methods: (1) Net profit difference = Accumulated Committed Net Profit during the Commitment Period – accumulated realised net profit during the commitment period; (2) Valuation difference = Appraised value in this transaction – Appraised Value at the End of the Commitment Period. Notes: Ǻ Regarding the commitments made by the Transferors in connection with the Company’s acquisition of 51% equity of Luxi Mining and 51% equity of Xinjiang Neng Hua, please refer to the Company’s related/connected transaction announcement dated 28 April 2023 for details. ǻ Regarding the commitments made by the Undertakers in connection with the transaction for the acquisition of equity interest in Wubo Technology, please refer to the Company’s announcement on the acquisition of Wubo Technology Co., Ltd. dated 31 May 2024 for details. Ǽ Regarding the commitments made by the Transferors in connection with the capital increase and acquisition of 51% equity interest in Xibei Mining, please refer to the Company’s related/connected transaction announcement dated 8 April 2025 for details. ǽ Regarding the commitments made by the Transferors in connection with the acquisition of 100% equity interest in New Energy Group, please refer to the Company's related/connected transaction announcement dated 3 June 2026 for details.
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65 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED I I . NON-OPERATING CAPITAL MISAPPROPRIATED BY CONTROLLING SHAREHOLDERS AND OTHER RELATED PARTIES DURING THE REPORTING PERIOD Not applicable. III. VIOLATION OF GUARANTEES Not applicable. IV. AUDIT OF THE INTERIM REPORT Not applicable. V. CHANGES AND HANDLING OF MATTERS RELATED TO NON-STANDARD AUDIT OPINIONS IN THE ANNUAL REPORT OF THE PREVIOUS YEAR Not applicable. VI. MATTERS RELATED TO BANKRUPTCY REORGANIZATION Not applicable. VII. SIGNIFICANT LITIGATION AND ARBITRATION EVENTS (I) Litigation and Arbitration Events Disclosed in the Extraordinary Announcements and with No Subsequent Progress Not applicable.
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66 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED (II) Litigation and Arbitration Not Disclosed in Extraordinary Announcements Or with Subsequent Progress Unit: RMB’0,000 During the reporting period: Plaintiff (applicant) Defendant (respondent) Joint and several liable party Type Background Amount involved Estimated liabilities and amount Progress Judgment and impact Judgment execution Duanxin Supply Chain (Shenzhen) Co., Ltd. (“Duanxin Supply Chain”) Shenzhen McKelley Technology Co., Ltd. (“McKelley Company”) Li Guanwei, Dai Lixiang, etc Litigation In February 2023, Duanxin Supply Chain sued McKelley Company and related guarantors to the Shenzhen Intermediate People’s Court (the "Shenzhen Intermediate Court") on the grounds of debt disputes, requiring them to pay off debts due, interest and liquidated damages totaling RMB396.1885 million. 39,618.85 No Closed As of the end of the reporting period, the Company has made impairment provision for the full amount involved in this case, and this lawsuit will not adversely affect the Company’s profit after the period. On 30 October 2025, the Company filed an application for compulsory enforcement with the Shenzhen Intermediate People’s Court. As of the disclosure date of this report, the Shenzhen Intermediate People’s Court has not yet issued an enforcement ruling.In June 2024, the Shenzhen Intermediate People’s Court ruled that McKelley Company was bankrupt and liquidated. In August 2024, Duanxin Supply Chain declared claims of RMB509.8821 million to the insolvency administrator of McKelley Company. In December 2024, Duanxin Supply Chain received the first-instance judgment, with the Shenzhen Intermediate People’s Court ruling in favor of Duanxin Supply Chain’s litigation request. The defendant, McKelley Company, has submitted an appeal to the Guangdong Provincial Higher People’s Court. In September 2025, Duanxin Supply Chain received a ruling issued by the Guangdong Provincial Higher People’s Court, which determined that McKelley Company had failed to pay the court fees, resulting in the appeal being treated as automatically withdrawn. The first-instance judgment became effective upon service of the ruling.
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67 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED During the reporting period: Plaintiff (applicant) Defendant (respondent) Joint and several liable party Type Background Amount involved Estimated liabilities and amount Progress Judgment and impact Judgment execution Inner Mongolia Jinkong Financial Leasing Co., Ltd. (“Inner Mongolia Jinkong”) Zhongrong Sheng International Financial Leasing (Tianjin) Co., Ltd. (“Zhongrong Sheng”), Han Yanjie, Tianjin Kaitai Shengshi Asset Management Co., Ltd Datang International Development Group Limited (“Datang International”) Litigation In November 2023, Inner Mongolia Jinkong filed a lawsuit with the Hohhot Intermediate People’s Court on the ground that Zhongrong Sheng and other defendants violated the factoring and financial lease contract, requiring Zhongrong Sheng and other defendants to pay the principal of the factoring and financial lease payment of RMB246.0928 million, the corresponding interest and liquidated damages, and requiring Datang International to bear joint and several liabilities. 24,609.28 No In the second instance This case has received a court judgment to reject Inner Mongolia Jinkong’ litigation claim, and Inner Mongolia Jinkong has filed an appeal. Notice of court is currently pending. – In June 2025, Inner Mongolia Jinkong received a judgment from the Hohhot Intermediate People’s Court, rejecting Inner Mongolia Jinkong’s claim. Inner Mongolia Jinkong appealed to the Higher People’s Court of the Inner Mongolia Autonomous Region. Haosheng Company China Jingu International Trust Co., Ltd. (“Jingu Trust”) None Litigation In January 2025, Haosheng Company filed a lawsuit with the Ordos Intermediate People’s Court, requesting that Jingu Trust assume the capital increase obligations and pay the breach of contract penalties corresponding to the equity in Haosheng Company acquired from Xibu New Era Investment Jointstock Company (“Xibu New Era”), totaling approximately RMB1.209 billion. 120,866.60 No Closed The case is closed. The Company received capital of RMB841.6273 million, and the court ruling was fully executed. In January 2026, Haosheng Company received a favorable first-instance judgment. Jingu Trust subsequently filed an appeal with the Higher People’s Court of Inner Mongolia Autonomous Region. In June 2026, the Company received a favorable second-instance judgment from the Higher People’s Court of Inner Mongolia Autonomous Region, ruling that Jingu Trust shall be jointly liable for the loans of RMB564.7389 million owed by Xibu New Era to Haosheng Company and part of the breach of contract penalties, and bear the corresponding litigation fees, insurance premiums and others. In July 2026, the Company received capital of RMB841.6273 million, and the court ruling was fully executed.
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68 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED During the reporting period: Plaintiff (applicant) Defendant (respondent) Joint and several liable party Type Background Amount involved Estimated liabilities and amount Progress Judgment and impact Judgment execution Inner Mongolia Mining Ordos Cultural Industry Investment Co., Ltd., Bainianshuren (Group) Co., Ltd. None Arbitration In October 2024, Inner Mongolia Mining applied for arbitration with the Hohhot Arbitration Commission based on the signed “Capital Increase Agreement of Ordos Cultural Industry Park Cultural Education Co., Ltd.” The Company requested that Ordos Cultural Industry Investment Co., Ltd. and Bainianshuren (Group) Co., Ltd. shall perform their repurchase obligations and pay the equity transfer amount, capital occupation fee, and liquidated damages, totaling RMB342.9219 million. 34,292.19 No Arbitration proceedings This case is currently under arbitration proceedings, and the Company is unable to accurately estimate the impact of the arbitration on the profit after the period. – As of the disclosure date of this report, the Hohhot Arbitration Commission has not issued a ruling. (III) Other Explanation Not applicable.
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69 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED VIII. PUNISHMENT ON THE LISTED COMPANY, ITS DIRECTORS, SENIOR MANAGEMENT, CONTROLLING SHAREHOLDERS, AND DE FACTO CONTROLLERS FOR VIOLATION OF LAWS AND REGULATIONS AND THEIR RECTIFICATION Not applicable. IX. THE EXPLANATION ON THE CREDIT CONDITIONS OF THE COMPANY, THE CONTROLLING SHAREHOLDERS, AND DE FACTO CONTROLLERS DURING THE REPORTING PERIOD Not applicable. During the reporting period, the Company, its Controlling Shareholder and the de facto controllers do not have any dishonest behaviors, such as failure to perform the effective judgement of the court and the large amount of debt due but unliquidated. X. MAJOR RELATED/CONNECTED TRANSACTIONS (I) Related/connected Transactions in relation to Daily Operation The Group’s related/connected transactions were mainly related/connected transactions entered into by the Group with the Controlling Shareholder of the Company, i.e., Shandong Energy and its subsidiaries (other than the Group) (“Shandong Energy Group”). Under the regulatory rules of the Hong Kong Stock Exchange, in addition to the related/connected transactions above, they also included related/connected transactions by the Group with Glencore Coal Pty Ltd (“Glencore”) and its subsidiaries (“Glencore Group”), RGL Group Co., Ltd. (“RGL”) (each of Glencore and RGL being substantial Shareholders of significant subsidiaries of the Company, and therefore a related/connected person at the subsidiary level of the Company) as well as related/connected subsidiaries, i.e. Shandong Energy Finance Company, Luxi Mining, Xinjiang Neng Hua, Xibei Mining and their respective subsidiaries (as the case may be). The purpose of the Company to carry out the related/connected transactions above is to better achieve resource sharing and synergies between the Company and related/connected parties, reduce transaction costs and risks, and improve the Company’s profitability and core competitiveness.
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70 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED 1. Matters disclosed in extraordinary announcements with no subsequent progress or change Not applicable. 2. Matters disclosed in extraordinary announcements with subsequent progress or change (1) Approval and execution of continuing related/connected transactions with Shandong Energy Group during the reporting period Ǻ Continuing related/connected transaction of goods and services provision and insurance fund As considered and approved at the 2024 annual general meeting held on 30 May 2025, the Company was approved to sign the Provision of Materials Supply Agreement, Mutual Provision of Labour and Services Agreement, Provision of Insurance Fund Administrative Services Agreement, Bulk Commodities Sales and Purchase Agreement and Provision of Products, Materials and Asset Leasing Agreement with Shandong Energy, together with the transaction cap for 2025-2027. The above continuing related/connected transaction agreements shall take effect retroactively from 1 January 2025. For details, please refer to the Company’s announcements dated 8 April 2025 and 30 May 2025 and the circular dated 15 May 2025. As considered and approved at the 2026 first extraordinary general meeting held on 29 July 2026, the Company was approved to sign the new Provision of Materials Supply Agreement, Mutual Provision of Labour and Services Agreement, Provision of Insurance Fund Administrative Services Agreement, Bulk Commodities Sales and Purchase Agreement and Provision of Products, Materials and Asset Leasing Agreement with Shandong Energy, together with the transaction cap for 2026-2028. The above continuing related/connected transaction agreements shall take effect retroactively from 1 January 2026. For details, please refer to the Company’s announcements dated 3 June 2026 and 29 July 2026 and the circular dated 7 July 2026. The re-signing of the continuing related/connected transaction agreements are based on the normal daily operation needs of the Company and its subsidiaries, which reflect the principle of fairness and rationality, and conform to the interests of the Company and all Shareholders. It will neither adversely affect the Company’s present and future financial condition, operating results, the independence of the Company, nor make the Company’s business rely on the Controlling Shareholders. Except for the Provision of Insurance Fund Administrative Services Agreement, the pricing of the transactions was mainly determined on basis of state price, market price, as well as the actual cost. The charge for transaction can be settled in one lump sum or by installments. The payment payable to the other party or receivable from the other party due in a calendar month shall be written down on the last business day of the calendar month. The continuing related/connected transactions made in a calendar month shall be settled in the following month, except for incomplete transactions or where the transaction amounts are in dispute.
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71 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED In the first half of 2026, the sales of goods and provision of services by the Group to Shandong Energy Group amounted to RMB7.588 billion; the goods and services provided by Shandong Energy Group to the Group amounted to RMB5.486 billion. The following table sets out the continuing related/connected transactions of the supply of materials and services between the Group and Shandong Energy Group in the first half of 2026: The first half of 2026 The first half of 2025 Increase/ decrease of related/ connected Transactions (%) Amount (RMB’000) Percentage of operating revenue (%) Amount (RMB’000) Percentage of operating revenue (%) Sales of goods and provision of services by the Group to Shandong Energy Group 7,587,510 10.03 5,656,580 9.53 34.14% Sales of goods and provision of services by Shandong Energy Group to the Group 5,486,200 7.25 4,385,730 7.39 25.09% Note: The data in the above table regarding the amount of connected/related transactions and their percentage of operating revenue for the first half of 2025 are consistent with the Company's 2025 interim report and no retrospective adjustments have been made. The table below shows the effect on the Group’s profits from sales of coal by the Group to Shandong Energy Group in the first half of 2026: Operating revenue Operating Cost Gross profit (RMB’000) (RMB’000) (RMB’000) Coal sold to Shandong Energy Group 6,085,669 3,914,684 2,170,985 Pursuant to the Provision of Insurance Fund Administrative Services Agreement, Shandong Energy Group and Yankuang Energy shall provide each other with free management and transferring services in relation to social insurance, housing provident fund and enterprise annuity (the “Insurance Fund”).
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72 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED ǻ Continuing related/connected transaction of financial services At the 2024 annual general meeting of the Company held on 30 May 2025, the Company considered and approved the entering into of the Financial Services Agreement between Shandong Energy Finance Company and Shandong Energy, pursuant to which Shandong Energy Finance Company shall provide deposit, comprehensive credit facilities and other financial services to Shandong Energy Group, and Shandong Energy Finance Company shall subscribe for/purchase monetary funds sold by Zhongtai Securities Co., Ltd. (“Zhongtai Securities”) and receive related services, with annual caps for the transactions contemplated under the aforesaid services for each of the years from 2025 to 2027. The relevant deposit interest rates, loan interest rates and service fees shall be determined in accordance with the relevant regulations of the People’s Bank of China or financial regulatory authorities, with reference to normal commercial terms. The above continuing related/connected transaction agreement shall be retrospectively effective from 1 January 2025. For details, please refer to the Company’s announcements dated 8 April 2025 and 30 May 2025 and the circular dated 15 May 2025. At the 2026 first extraordinary general meeting of the Company held on 29 July 2026, the Company considered and approved the entering into of a new Financial Services Agreement between Shandong Energy Finance Company and Shandong Energy (the “Shandong Energy Group Financial Services Agreement”), pursuant to which Shandong Energy Finance Company shall provide deposit, comprehensive credit facilities and other financial services to Shandong Energy Group, and Shandong Energy Finance Company shall subscribe for/ purchase monetary funds sold by Zhongtai Securities and receive related services, with annual caps for the transactions contemplated under the aforesaid services for each of the years from 2026 to 2028. The relevant deposit interest rates, loan interest rates and service fees shall be determined in accordance with the relevant regulations of the People’s Bank of China or financial regulatory authorities, with reference to normal commercial terms. The above continuing related/connected transaction agreement shall be retrospectively effective from 1 January 2026. For details, please refer to the Company’s announcements dated 3 June 2026 and 29 July 2026 and the circular dated 7 July 2026. During the first half of 2026, the maximum daily balance of deposits (including accrued interest) placed by Shandong Energy Group with Shandong Energy Finance Company was RMB47.850 billion, the maximum daily balance of comprehensive credit facilities (including accrued interest) was RMB25.795 billion, and the financial service fees incurred amounted to RMB1.4384 million. During the first half of 2026, the maximum daily balance of monetary funds subscribed/ purchased by Shandong Energy Finance Company through Zhongtai Securities was RMB80 million, and the service fees imposed by Zhongtai Securities on Shandong Energy Finance Company amounted to RMB0 million.
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73 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED At the 2024 annual general meeting of the Company held on 30 May 2025, the Company considered and approved the entering into of a new Financial Services Agreement between Shandong Energy Finance Company and Yankuang Energy, pursuant to which Shandong Energy Finance Company shall provide deposit, comprehensive credit facilities and other financial services to the Group, with annual caps for the transactions contemplated under the agreement for each of the years from 2025 to 2027. The relevant deposit interest rates, loan interest rates and service fees shall be determined in accordance with the relevant regulations of the People’s Bank of China or financial regulatory authorities, with reference to normal commercial terms. The above continuing related/connected transaction agreement shall be retrospectively effective from 1 January 2025. For details, please refer to the Company’s announcements dated 8 April 2025 and 30 May 2025 and the circular dated 15 May 2025. At the 2026 first extraordinary general meeting of the Company held on 29 July 2026, the Company considered and approved the entering into of a new Financial Services Agreement (the “Yankuang Energy Financial Services Agreement”) between Shandong Energy Finance Company and Yankuang Energy, pursuant to which Shandong Energy Finance Company shall provide deposit, comprehensive credit facilities and other financial services to the Group, with annual caps for the transactions contemplated under the agreement for each of the years from 2026 to 2028. The relevant deposit interest rates, loan interest rates and service fees shall be determined in accordance with the relevant regulations of the People’s Bank of China or financial regulatory authorities, with reference to normal commercial terms. The above continuing related/connected transaction agreement shall be retrospectively effective from 1 January 2026. For details, please refer to the Company’s announcements dated 3 June 2026 and 29 July 2026 and the circular dated 7 July 2026. During the first half of 2026, the maximum daily balance of deposits (including accrued interest) placed by the Group with Shandong Energy Finance Company was RMB26.320 billion, the maximum daily balance of comprehensive credit facilities (including accrued interest) was RMB16.904 billion, and the financial service fees incurred amounted to RMB1.8479 million. Ǽ Continuing related/connected transactions of finance leases and factoring At the 2024 annual general meeting of the Company held on 30 May 2025, the Company considered and approved the entering into of a Finance Lease Agreement with Shandong Energy and the annual transaction caps for 2025-2027 as stipulated therein. The minimum interest rate for factoring and other services provided by the Company to Shandong Energy shall be the yield of government bonds with the same maturity, and the maximum interest rate shall be 1.5% above the quoted interest rate on the loan market for the same period published by the National Interbank Funding Center. The above continuing related/ connected transaction agreement shall be retrospectively effective from 1 January 2025. For details, please refer to the Company’s announcements dated 8 April 2025 and 30 May 2025 and the circular dated 15 May 2025.
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74 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED At the 2026 first extraordinary general meeting of the Company held on 29 July 2026, the Company considered and approved the entering into of a new Finance Lease and Factoring Agreement with Shandong Energy and the annual transaction caps for 2026-2028 as stipulated therein. The minimum interest rate for factoring and other services provided by the Company to Shandong Energy shall be the yield of government bonds with the same maturity, and the maximum interest rate shall be 1.5% above the quoted interest rate on the loan market for the same period published by the National Interbank Funding Center. The above continuing related/connected transaction agreement shall be retrospectively effective from 1 January 2026. For details, please refer to the Company’s announcements dated 3 June 2026 and 29 July 2026 and the circular dated 7 July 2026. Pursuant to the Finance Lease and Factoring Agreement, the Company shall provide financial leasing and factoring services to Shandong Energy Group, charge Shandong Energy Group for a handling fee or consultancy fee in a lump sum upon or prior to the Company's payment of consideration for the transfer of leased assets, and charge Shandong Energy Group for rent on a quarterly basis. In the first half of 2026, a total of RMB557.64 million was charged for the principal balance of the financial lease, lease interest, handling fee and consultancy fee. ǽ Continuing related/connected transactions of entrusted management At the 2024 annual general meeting of the Company held on 30 May 2025, the Company considered and approved the entering into of an Entrusted Management Service Framework Agreement with Shandong Energy and the annual transaction caps for 2025-2027 as stipulated therein. The entrusted management fees shall be determined by both parties based on the condition of the specific underlying assets, the cost incurred by Yankuang Energy in performing the entrusted management, and the profitability of the underlying assets. The above continuing related/connected transaction agreement shall be retrospectively effective from 1 January 2025. For details, please refer to the Company’s announcements dated 8 April 2025 and 30 May 2025 and the circular dated 15 May 2025. At the 2026 first extraordinary general meeting of the Company held on 29 July 2026, the Company considered and approved the entering into of a new Entrusted Management Service Framework Agreement with Shandong Energy and the annual transaction caps for 2026-2028 as stipulated therein. The entrusted management fees shall be determined by both parties based on the condition of the specific underlying assets, the cost incurred by Yankuang Energy in performing the entrusted management, and the profitability of the underlying assets. The above continuing related/connected transaction agreement shall be retrospectively effective from 1 January 2026. For details, please refer to the Company’s announcements dated 3 June 2026 and 29 July 2026 and the circular dated 7 July 2026. In the first half of 2026, Shandong Energy Group paid an entrusted management fee of RMB2.48 million to the Company.
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75 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED The following table sets out the details of the annual transaction caps for 2026 and actual transaction amounts for the first half of 2026 of the above continuing related/connected transactions: No. Type of related/connected transaction Agreement Annual transaction cap for 2026 (RMB’000) Actual transaction amount for the first half of 2026 (RMB’000) 1 Procurement of materials and equipment from Shandong Energy Group Provision of Materials Supply Agreement 9,273,000 1,466,921 2 Labour and services provided by Shandong Energy Group Mutual Provision of Labour and Services Agreement 10,990,000 1,396,403 Labour and services provided to Shandong Energy Group 3,448,000 290,674 3 Insurance fund management and payment services provided by Shandong Energy Group (free of charge) for the Group Provision of Insurance Fund Administrative Services Agreement 1,197,000 549,949 Insurance fund management and payment services provided by the Group (free of charge) for Shandong Energy Group 400,000 171,679 4 Sale of products and materials and asset leasing to Shandong Energy Group Provision of Products, Materials and Asset Leasing Agreement 18,684,000 6,746,716 5 Procurement of bulk commodities from Shandong Energy Group Bulk Commodities Sales and Purchase Agreement 8,000,000 2,071,079 Sale of bulk commodities to Shandong Energy Group 6,217,000 366,876 6 Financial services provided to Shandong Energy Group Deposit Shandong Energy Group Financial Services Agreement 62,500,000 47,849,529 Comprehensive credit 32,000,000 25,795,427 Financial service fee 6,000 1,438 Shandong Energy Finance Company subscribed for/ purchased monetary funds distributed by Zhongtai Securities Balance of monetary funds 4,000,000 80,000 Service fee 3,000 0 7 Financial services provided to Yankuang Energy Deposit Yankuang Energy Financial Services Agreement 27,000,000 26,319,622 Comprehensive credit 30,000,000 16,903,561 Financial service fee 10,000 1,848 8 Financial leasing and factoring services provided to Shandong Energy Group Total financing amount Finance Lease and Factoring Agreement 5,250,000 550,000 Interest and expenses 268,000 7,641 9 Entrusted management services provided to Shandong Energy Group Entrusted Management Services Framework Agreement 60,000 2,483
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76 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED (2) Approval and execution of continuing related/connected transactions with Glencore Group during the reporting period Ǻ Continuing related/connected transactions of coal sales At the fourth meeting of the ninth session of the Board of the Company held on 15 January 2024, the renewal of the Coal Sales Framework Agreement between Yancoal Australia and Glencore and the annual transaction caps for 2024-2026 as stipulated therein were approved. The way to determine transaction price is based on the market price, together with adjustment according to related industry benchmarks and indexes. The payment time for transaction shall be determined by both parties in accordance with international practices and applicable laws and regulations in this agreement and be specified in details in the specific coal sales agreement. For details, please refer to the Company’s announcement dated 15 January 2024. As reviewed and approved at the general manager's office meeting of the Company held on 24 August 2026, the 2026 annual cap for coal sales of the Group to Glencore Group under the Coal Sales Framework Agreement between Yancoal Australia and Glencore was increased from USD350 million to USD750 million. For details, please refer to the Company's announcement dated 24 August 2026. The 2026 annual cap for coal sales of the Group to Glencore Group was USD750 million. In the first half of 2026, this related/connected transaction amounted to approximately USD215 million. ǻ Continuing related/connected transactions of coal purchase At the fourth meeting of the ninth session of the Board of the Company held on 15 January 2024, the renewal of the HVO Sales Agreement between Yancoal Australia and Glencore and the annual transaction caps for 2024-2026 as stipulated therein were approved. It is stipulated in HVO Sales Agreement: HVO Coal Sales Pty Ltd, a subsidiary of Yancoal Australia, shall pay the corresponding transaction amount to Yancoal Australia and Glencore respectively according to the total amount and corresponding product quota collected in each sales agreement with the client and HVO Coal Sales Pty Ltd shall pay the transaction amount to Yancoal Australia and Glencore no later than three business days after receiving payment from its customers. For details, please refer to the Company’s announcement dated 15 January 2024. The 2026 annual cap for equity coal credits purchase of the Group from Glencore Group under the HVO Sales Agreement was USD1.3 billion. In the first half of 2026, this related/ connected transaction amounted to approximately USD406 million.
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77 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED At the fourth meeting of the ninth session of the Board of the Company held on 15 January 2024, the renewal of the Coal Purchase Framework Agreement between Yancoal Australia and Glencore and the annual transaction caps for 2024-2026 as stipulated therein were approved. The final transaction price adopted under the Coal Purchase Framework Agreement for the purchase of coal shall be finally determined on the basis of fair negotiation, in accordance with normal commercial terms and with reference to the market price of relevant type of coal at the time. The payment time for the transaction shall be determined by both parties in accordance with international practices and applicable laws and regulations in this agreement and be specified in details in the specific coal purchase agreement. For details, please refer to the Company’s announcement dated 15 January 2024. The 2026 annual cap for coal purchase of the Group from Glencore Group under the Coal Purchase Framework Agreement was USD250 million. In the first half of 2026, this related/ connected transaction amounted to approximately USD34 million. Ǽ Continuing related/connected transactions in relation to diesel fuel supply Upon discussion and deliberation at the general manager’s office meeting held on 6 November 2023, the Diesel Fuel Supply Agreement entered into between HV Operations and Glencore Australia Oil Pty Ltd (the “GAO”), a subsidiary of Glencore, on 8 December 2023 and the caps for such transaction for the years of 2024 to 2026 were approved. The Diesel Fuel Supply Agreement stipulates that: (i) HV Operations shall generate a purchase order before the delivery month; (ii) GAO shall deliver the amount of fuel before the date specified in the purchase order, and HV Operations shall pay after the fuel is delivered; and (iii) the payment is calculated based on the volume delivered and the price assessment with reference to the Singapore FOB price of 10ppm low sulphur diesel published in the S&P Global Platts Oil Price Report, as well as the price determined according to the Diesel Fuel Supply Agreement. For details, please refer to the Company’s announcement dated 8 December 2023. The 2026 annual cap for the purchase of diesel fuel of the Group from GAO was USD220 million. In the first half of 2026, this related/connected transaction amounted to approximately USD99 million.
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78 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED (3) Approval and execution of continuing related/connected transactions with RGL during the reporting period Ǻ Continuing related/connected transactions in respect of transportation and cargo agency In order to efficiently utilise the existing experiences in professional services of the Company, expand the business scale of the logistics segment of the Company, increase the Company’s market share and enhance the profitability of the subsidiaries, at the fourteenth meeting of the ninth session of the Board held on 28 March 2025 by the Company, the signing of the Transportation and Cargo Agency Service Agreement between the Company and RGL and its subsidiaries (the “RGL Group”) was considered and approved, and it was agreed that the Group shall provide RGL and/or its associates with related services such as transportation and cargo agency (including pre-declaration, port unloading, customs clearance and inspection, etc.), and the caps of transaction amounts for each of the years from 2025-2027 for the limited transactions thereof. Among them, the amount of fees for transportation services and cargo agency services will be capped at RMB2.01 billion, RMB2.22 billion and RMB2.43 billion for the three financial years of 2025, 2026 and 2027, respectively. The prices for the cargo transportation services and port agency services are based on market prices. For the purpose of determining market prices, the Company’s sales department and its designated personnel are primarily responsible for verifying the prices normally offered by other independent third parties by obtaining quotations from tenders through email, fax or telephone enquiries to at least two independent third parties or through the publication of tender notices in various media resources such as local newspapers and magazines. The Company’s sales department will update such information from time to time based on purchase requests and will continuously monitor market prices to ensure that transportation services and cargo agency services are conducted in accordance with the pricing policies set out above. Tax charges, and administrative levies (port construction costs, etc.) in port charges are borne by RGL Group and/or its associates, and the specific amounts are based on the amounts actually incurred. The continuing related/connected transaction agreement is effective retroactively from 1 January 2025 onwards. Please refer to the Company’s announcement dated 28 March 2025 for further details. In the first half of 2026, the transaction amount of this related/connected transaction was approximately RMB474 million.
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79 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED ǻ Continuing related/connected transactions in respect of the sales and purchase of bulk commodities In order to make full use of the resources of cargo sources and customers, facilitate the development of the logistics business, and expand the customised supply chain logistics support services, at the fourteenth meeting of the ninth session of the Board held on 28 March 2025 by the Company, the signing of the Bulk Commodities Sales and Purchase Agreement between the Company and RGL Group was considered and approved, and it was agreed that the Group and RGL and/or its associates shall purchase and/or sell coal, iron ore and other bulk commodities to each other according to their business needs, while the cap of transaction amounts from 28 March 2025 to 31 December 2025 and the two financial years of 2026 and 2027 so limited was also agreed. Among them, the caps of transaction amounts payable by the Group under the Bulk Commodities Sales and Purchase Agreement for the period from 28 March 2025 to 31 December 2025 and for the two financial years of 2026 and 2027 for the purchase of iron ore and other bulk commodities from RGL Group and/or its associates are RMB1.5 billion, RMB1.5 billion and RMB1.5 billion, respectively; the caps of transaction amounts receivable by the Group under the Bulk Commodities Sales and Purchase Agreement for the period from 28 March 2025 to 31 December 2025 and for the two financial years of 2026 and 2027 for the sales of coal, and other bulk commodities to RGL Group and/or its associates are RMB1.01 billion, RMB1.11 billion and RMB1.22 billion, respectively. The pricing under the Bulk Commodities Sales and Purchase Agreement is determined on the normal commercial terms, and on the basis of (i) the prices charged at the time of the same or similar sales and purchase as agreed in the ordinary course of business of independent third parties in the place of supply of the same or similar products or its vicinity, on the normal commercial terms; or (ii) in the event that (i) above does not apply, the prices charged at the time of the same or similar sales and purchase as agreed in the PRC, in the ordinary course of its business on the normal commercial terms. For the purpose of determining market prices, the Company’s sales department and/or procurement department and its designated personnel are primarily responsible for verifying the prices normally offered by other independent third parties by obtaining quotations from tenders through email, fax or telephone enquiries to at least two independent third parties or through the publication of tender notices in various media resources such as local newspapers and magazines. The Company’s sales department and/or procurement department will update such information from time to time based on purchase requests and will continuously monitor market prices to ensure that the transactions in respect of the Agreed Sales and Purchase are conducted in accordance with the pricing policies set out above. If at any time the nationwide pricing is in force and applicable to an agreed sales and purchase, the Group and RGL Group and/or its associates agree that the price of such agreed sales and purchase shall be determined in accordance with the nationwide pricing. Such nationwide pricing means the price stipulated for such agreed sales and purchase in accordance with the laws, regulations, decisions, orders or pricing policies formulated by the relevant governmental authorities in the PRC (as the case may be).
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80 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED The Bulk Commodities Sales and Purchase Agreement shall be effective from 28 March 2025 to 31 December 2027. Please refer to the Company’s announcement dated 28 March 2025 for further details. In the first half of 2026, the Group purchased bulk commodities from RGL Group in the amount of RMB0 billion, and RGL Group purchased bulk commodities from the Group in the amount of RMB0 billion. 3. Undisclosed events in extraordinary announcements Not applicable. (II) Related/Connected Transactions in relation to Assets or Equity Acquisition and Sale 1. Matters disclosed in extraordinary announcements with no subsequent progress or change Not applicable. 2. Matters disclosed in extraordinary announcements with subsequent progress or change Acquisition of equity interests in subsidiary companies of the controlling shareholder As considered and approved at the 2026 first extraordinary general meeting of the Company convened on 29 July 2026, the Company acquired the 100% equity interest in New Energy Group at a consideration of RMB15,570 million and the 100% equity interest in Shandong Energy Electricity Sales Co., Ltd. at a consideration of RMB845 million. As of the disclosure date of this report, the procedures of equity transfer and industrial and commercial registration change of the above transaction are in progress. For details, please refer to the announcement of resolutions of the 24th meeting of the ninth session of the Board of the Company dated 3 June 2026, the announcement on a related/connected transaction, and the announcement of resolutions of the 2026 first extraordinary general meeting dated 29 July 2026. Such information was published on the websites of the SSE, the Hong Kong Stock Exchange, the Company and/or the China Securities Journal, Shanghai Securities News, Securities Times, and Securities Daily. 3. Matters not disclosed in extraordinary announcements Not applicable. 4. Disclosure of the performance of the results relating to results agreement during the reporting period Not applicable.
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81 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED (III) Significant Related/Connected Transactions of Cooperative External Investment 1. Matters disclosed in extraordinary announcements with no subsequent progress or change Not applicable. 2. Matters disclosed in extraordinary announcements with subsequent progress or change during implementation As considered and approved at the 22nd meeting of the ninth session of the Board of the Company convened on 27 March 2026, the Company and Xinwen Mining Group Co., Ltd. (“Xinwen Mining Group”) increased the registered capital of Xinjiang Neng Hua by a total of RMB6 billion in proportion to their respective shareholdings. As of the disclosure date of this report, Yankuang Energy and Xinwen Mining Group have completed the initial capital contribution of RMB1 billion. For details, please refer to the announcement of resolutions of the 22nd meeting of the ninth session of the Board of the Company dated 27 March 2026 and the announcement on a related/connected transaction. Such information was published on the websites of the SSE, the Hong Kong Stock Exchange, the Company and/or the China Securities Journal, Shanghai Securities News, Securities Times, and Securities Daily. 3. Matters not disclosed in extraordinary announcements Not applicable.
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82 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED (IV) Credit and Debt Obligation among Related Parties 1. Matters disclosed in extraordinary announcements with no subsequent progress or change Not applicable. 2. Matters disclosed in extraordinary announcements with subsequent progress or change during implementation Not applicable. 3. Matters not disclosed in extraordinary announcements Unit: RMB100 million Fund provided to related parties Fund provided to the listed company by related parties Related party Connected relationship Beginning balance Amount occurred Closing balance Beginning balance Amount occurred Closing balance Shandong Energy Group Controlling Shareholder 346.21 -122.89 223.32 187.76 -97.15 90.61 Total 346.21 -122.89 223.32 187.76 -97.15 90.61 Reasons for credit and debt obligation among related parties Both parties sell goods and provide services, etc. to each other Impact on the operating results and financial conditions of the Company by credit and debt obligation No material impact (V) Financial business between the Company and the connected financial company, the Company’s holding financial company and the related party 1. Deposit Business Unit: RMB100 million Current Period Related party Connected relationship Maximum daily deposit limit Deposit interest rate range Opening balance Total deposit amount for the current period Total withdrawal amount for the current period Closing balance Shandong Energy Group Controlling Shareholder 625 0.335%-1.35% 242.01 7431.69 7295.35 378.35 Total / / / 242.01 7431.69 7295.35 378.35
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83 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED 2. Loan Business Unit: RMB100 million Current Period Related party Connected relationship Loan amount Loan interest rate range Opening balance Total Loan amount for the current period Total repayment amount for the current period Closing balance Shandong Energy Group Controlling Shareholder 260 2.11%-2.5% 189.26 135.26 102.19 222.33 Total / / / 189.26 135.26 102.19 222.33 3. Credit Business or Other Financial Business Unit: RMB100 million Related party Connected relationship Business type Total amount Actual amount Shandong Energy Group Controlling Shareholder Acceptance, letter of guarantee 60 33.26 4. Other Explanations As of the end of the reporting period, the balance of margin received by Shandong Energy Finance Company for financial services provided to related parties was RMB73 million, and the margin portion was not counted in the credit amount. Pursuant to the Guidance on Self-supervision for Listed Companies No.5 – Transactions & Connected Transactions, the Company issued Risk Assessment Report on Shandong Energy Finance Company. (VI) Other significant related/connected transactions Not applicable. (VII) Others Not applicable. XI. MATERIAL CONTRACTS AND PERFORMANCE 1. Trust, Contract or Lease Not applicable.
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84 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED 2. Material guarantees performed or not yet completed during the reporting period Unit: RMB100 million External guarantees of the Company (excluding guarantee to subsidiaries) Guarantor Relationship between guarantor and the listed company Guaranteed party Amount Date of guarantee (date of signing) Starting date of the guarantee Expiry date of the guarantee Type of guarantee Principal debts Collateral (if any) Whether the guarantee has been fulfilled Overdue or not Overdue amount Counter guarantee Connected guarantee or not Connected relationship Yankuang Energy Group Company Limited Headquarters of the Company Yantai Jinzheng Eco- Technology 1.37 10 March 2023 10 March 2023 9 May 2026 Joint guarantee 1.10 / Yes No / Joint guarantees provided by other Shareholders No / Total guarantees of the Company during the reporting period (excluding guarantees to subsidiaries) 0 Total guarantee balance at the end of the reporting period (A) (excluding guarantees to subsidiaries) 0 Guarantees to subsidiaries by the Company Total guarantees to subsidiaries during the reporting period 1.51 Total balance of guarantees to subsidiaries at the end of the reporting period (B) 91.89 Total amount of guarantees of the Company (including guarantees to subsidiaries) Total amount of guarantees (A+B) 91.89 Percentage of total amount of guarantees in the net assets of the Company (%) 8.14 Of which: Amount of guarantees to Shareholders, de facto controllers and related parties (C) 0 Amount of guarantees directly or indirectly to guaranteed parties with a debts-to-assets ratio exceeding 70% (D) 34.00 Total amount of guarantees exceeding 50% of net assets (E) 0 Total amount of the above 3 categories of guarantees (C+D+E) 34.00 Explanation on unexpired guarantees that may be subject to joint and several liability None Details of guarantees 1. External guarantees incurred in prior periods and continued to the current reporting period As considered and approved at the 2021 first extraordinary general meeting of the Company, Future Energy provided guarantees of RMB400 million to Shaanxi Jingshen Railway Co., Ltd. As at 30 June 2026, the balance of the above guarantees was RMB256 million. As considered and approved at the 2022 annual general meeting of the Company, the Company provided guarantees of RMB1,000 million to Wanfu Energy. As at 30 June 2026, the balance of the above guarantees was RMB1,000 million. As considered and approved at the 2022 annual general meeting of the Company, Fengwei Optoelectronics provided guarantees of RMB495 million to Inner Mongolia Mining. As at 30 June 2026, the balance of the above guarantees was RMB429 million. On 8 April 2025 and 21 April 2025, Xinjiang Neng Hua provided guarantees of RMB600 million and RMB1.4 billion, respectively, for its wholly-owned subsidiary, Xinwen Mining Group (Yili) Energy Development Co., Ltd. As of 30 June 2026, the balances of the aforementioned guarantees amounted to RMB0.54 billion and RMB1.28 billion, respectively. As at 30 June 2026, Yancoal Australia and its subsidiaries had a total of AUD1.182 billion of performance deposits and guarantees required for operation. 2. Guarantees arising during the reporting period As considered and approved at the 2024 annual general meeting of the Company, the Company provided guarantees of RMB151 million to Yankuang Ruifeng International Trade Co., Ltd. As considered and approved at the 2025 annual general meeting of the Company, Yancoal Australia and its subsidiaries provided a guarantee in an amount not exceeding AUD1.65 billion per year to Yankuang Energy's subsidiaries in Australia for their daily operation. During the reporting period, Yancoal Australia and its subsidiaries incurred performance deposits and performance guarantees totaling AUD152 million for operational purposes. Notes: ǺThe table above was prepared in accordance with the CASs and calculated at AUD/RMB exchange rate of 4.6804. Apart from the above disclosures, the Company does not have any guarantee contracts performed or not yet completed during the reporting period. ǻ The guarantee provided by the Company for Yantai Jinzheng Eco-Technology Co., Ltd has been released. As of the disclosure date of this report, the Company has no outstanding external guarantees. 3. Other Major Contract Not applicable.
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85 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED 4. Other Major Events The Shareholder Return Plan for 2026-2028 As considered and approved at the 2025 annual general meeting held on 26 June 2026, the Company set the profit distribution policy for 2026-2028 that the total amount of cash dividends to be distributed by the Company in each fiscal year shall be determined based on the lower of the after tax profits under the financial statements prepared in accordance with the Chinese accounting standards (the “CAS”) and the International Financial Reporting Standards (the “IFRS”), and shall account for approximately 50% of the net profit of the Company for that year after deducting statutory reserves. For details, please refer to the Company’s announcement on the resolutions of the 22nd meeting of the ninth session of the Board of Directors, and the announcement on the shareholder return plan for 2026-2028, both dated 27 March 2026, and the announcement regarding the resolutions of the 2025 annual general meeting dated 26 June 2026. Such information was published on the websites of the SSE, the Hong Kong Stock Exchange, the Company and/or China Securities Journal, Shanghai Securities News, Securities Times and Securities Daily. Increase in Shareholdings of the Company by the Controlling Shareholder On 20 July 2026, Shandong Energy increased its shareholdings in 997,790 A shares of the Company through centralised bidding, at an amount of RMB20,234,060.70, representing approximately 0.01% of the Company’s total share capital. For details, please refer to the announcement of the Company dated 20 July 2026 regarding the progress of the controlling shareholder’s shareholding increase plan and its first increase in shareholdings in the Company’s shares. Such information was published on the websites of the SSE, the Hong Kong Stock Exchange, the Company and/or China Securities Journal, Shanghai Securities News, Securities Times and Securities Daily.
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86 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED Transfer of 100% Equity Interests in Xintai Company Through Public Listing for Transfer As reviewed and approved at the general manager’s office meeting of the Company, Ordos Company, a wholly-owned subsidiary of the Company, transferred 100% equity interests in Xintai Company through public listing for transfer (the “Equity Transfer”) on Shandong Property Right Exchange Center. According to the Notice of Result issued by Shandong Property Right Exchange Center, the transferee is Ordos Wulan Coal (Group) Co., Ltd., and the transaction price is RMB3,050.01 million. On 6 March 2026, both parties formally signed the Property Rights Transaction Contract. As at the date of this report, procedures such as industrial and commercial changes in respect of the Equity Transfer have been completed. For details, please refer to the Company’s announcement on the transfer of 100% equity interest in a wholly- owned subsidiary through public listing for transfer dated 1 February 2026, and the announcement on the transaction result of the transfer of 100% equity interest in a wholly-owned subsidiary through public tender dated 6 March 2026. Such information was published on the websites of the SSE, the Hong Kong Stock Exchange, the Company and/or China Securities Journal, Shanghai Securities News, Securities Times and Securities Daily. Xinghe Molybdenum Caosiyao Molybdenum Mine Received Mining License The Caosiyao Molybdenum Mine in Inner Mongolia operated by Yankuang (Xinghe) Molybdenum Co., Ltd.(ᘤ ʮ̡) (the “Xinghe Molybdenum Caosiyao Molybdenum Mine”) obtained mining license on 26 May 2026. The term of the mining rights runs from 8 February 2026 to 7 February 2056. The Xinghe Molybdenum Caosiyao Molybdenum Mine is located in Xinghe County, Ulanqab City, Inner Mongolia Autonomous Region. According to the Feasibility Study Report on the Mining and Beneficiation Project of the Caosiyao Molybdenum Mine prepared in December 2025, it possesses molybdenum ore resources of 1.04 billion tons, with a metal content of 1.089 million tons and an average grade of 0.105% molybdenum, along with associated metals such as tungsten and zinc. The designed capacity is 16.5 million tons of raw ore per annum, with an annual molybdenum concentrate output of 30,800 tons at full production. Acquisition of Interest in KCG by Yancoal Australia As considered and approved at the 21st meeting of the ninth session of the Board of Directors held on 11 February 2026, it was agreed that Yancoal Australia would acquire 100% interest in Kestrel Coal Group Pty Ltd (“KCG”) at a maximum consideration of US$2.4 billion in a competitive bidding process. On 14 April 2026, Yancoal Australia entered into a binding transaction document with EMR Capital Advisors Pty Ltd, Kestrel Coal (EMR) Limited, EMR Capital Management Limited and Adaro Capital Limited in respect of the intention to acquire 100% interest in KCG.
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87 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED As of the disclosure date of this report, the transaction is undergoing domestic and overseas review and filing procedures. For details, please refer to the Company’s announcement on the purchase of assets dated 14 April 2026. Such information was published on the websites of the SSE, the Hong Kong Stock Exchange, the Company and/or the China Securities Journal, Shanghai Securities News, Securities Times and Securities Daily. Establishment of Yankuang Energy Europe Branch As considered and approved at the 23rd meeting of the ninth session of the Board of Directors held on 28 April 2026, the Company established Yankuang Energy Group Company Limited Europe Branch (“Yankuang Energy Europe Branch”), positioned as the management entity for the Company’s equipment manufacturing sector in Europe, primarily engaged in research and development, investment, management, and consultancy. For details, please refer to the Company’s announcement on the resolutions of the 23rd meeting of the ninth session of the Board of Directors dated 28 April 2026. Such information was published on the websites of the SSE, the Hong Kong Stock Exchange, the Company and/or the China Securities Journal, Shanghai Securities News, Securities Times and Securities Daily. Quotation of Kasong Science and Technology on NEEQ As reviewed and approved at the general manager’s office meeting of the Company, on 22 September 2025, Kasong Science and Technology Co., Ltd.* (“Kasong Science and Technology”, the controlled subsidiary of the Company), submitted an application for quotation to the National Equities Exchange and Quotations (the “NEEQ”). On 14 April 2026, Kasong Science and Technology has been approved for quotation on the NEEQ. For details, please refer to the Company’s announcement on the proposed spinoff of Kasong Science and Technology and quotation of its shares on the NEEQ dated 22 September 2025, the announcement on the progress of the proposed spin-off of Kasong Science and Technology and quotation of its shares on the NEEQ dated 13 February 2026, and the announcement on the quotation of shares of Kasong Science and Technology on the NEEQ dated 14 April 2026. Such information was published on the websites of the SSE, the Hong Kong Stock Exchange, the Company and/or the China Securities Journal, Shanghai Securities News, Securities Times and Securities Daily. Spin-off and Listing of Wubo Technology As considered and approved at the 2025 annual general meeting held on 26 June 2026, the spin-off and listing of Wubo Technology on the Main Board of the Hong Kong Stock Exchange was agreed. On 30 June 2026, Wubo Technology submitted a listing application to the Hong Kong Stock Exchange. As of the disclosure date of this report, Wubo Technology is undergoing domestic and overseas review and filing procedures.
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88 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED For details, please refer to the Company’s announcement on the resolutions of the 22nd meeting of the ninth session of the Board of Directors, the announcement on the spin-off and listing of Wubo Technology on the Main Board of The Stock Exchange of Hong Kong Limited, and the announcement on the general risk warning notice in relation to the spin-off and listing of the subsidiary, all dated 27 March 2026, the announcement regarding the resolutions of the 2025 annual general meeting dated 26 June 2026 and the announcement on progress of proposed spin-off of Wubo Technology for listing on the main board of the Stock Exchange of Hong Kong Limited dated 30 June 2026. Such information was published on the websites of the SSE, the Hong Kong Stock Exchange, the Company and/or China Securities Journal, Shanghai Securities News, Securities Times and Securities Daily. XII. EXPLANATION ON PROGRESS OF USE OF PROCEEDS Not applicable. XIII. EXPLANATION ON OTHER SIGNIFICANT EVENTS (Prepared in accordance with the regulatory requirements for listing in Hong Kong) (I) Repurchase, sale or redemption of the Company’s listed securities Grant of additional issuance and H Share repurchase mandates at the 2025 annual general meeting Upon review and approval at the 2025 annual general meeting of the Company held on 26 June 2026, a general mandate was granted to the Board to determine, having regard to prevailing market conditions during the relevant period, whether to issue additional shares not exceeding 20% of the total number of issued shares (excluding any treasury shares) as at the date of passing the relevant resolution. Upon review and approval at the 2025 annual general meeting of the Company held on 26 June 2026, a general mandate was granted to the Board to, subject to the approval of relevant regulatory authorities and in compliance with applicable laws, administrative regulations and the Articles of Association, determine, as appropriate and having regard to the Company’s operational needs and prevailing market conditions during the mandate period, whether to repurchase H Shares not exceeding 10% of the total number of issued H Shares as at the date of passing the relevant resolution. Repurchase of A Shares After consideration and approval by the Board, the Company formulated a plan for the repurchase of A Shares. As of the disclosure date of this announcement, the repurchase has been fully implemented.
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89 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED For details, please refer to the announcement on the resolutions of the eighteenth meeting of the ninth session of the Board, the repurchase report concerning the share repurchase by way of centralised price bidding, and the announcement on the plans for the repurchase of shares by way of centralised price bidding, all dated 29 August 2025, of the Company, as well as the announcement of the Company dated 16 September 2025 regarding the adjustment of the maximum repurchase prices of A Shares following the implementation of the 2025 interim equity distribution, the announcement of the resolution at the 21st meeting of the ninth session of the Board of Directors and the announcement on expansion of funding sources for share repurchase and receipt of the commitment letter for a special-purpose repurchase loan, both dated 11 February 2026, the announcement of the resolution at the 24th meeting of the ninth session of the Board of Directors dated 3 June 2026, the announcement on the first repurchase of shares of the Company by way of centralised price bidding dated 5 June 2026 and the announcement on the implementation results of the share repurchase and changes in share capital, dated 28 August 2026. Such information was published on the websites of the SSE, the Hong Kong Stock Exchange and the Company, and/or China Securities Journal, Shanghai Securities News, Securities Times, and Securities Daily. (II) Remuneration Policy The remuneration for the Directors and Senior Management of the Company is proposed to the Board by the remuneration committee under the Board. Upon review and approval by the Board, any remuneration proposal for the Directors will be proposed to the Shareholders' general meeting for approval. The remuneration for Senior Management is reviewed and approved by the Board. The Company adopts an annual salary evaluation and incentive mechanism for its Directors (excluding independent Directors) and Senior Management. Their remuneration consists of basic salary, performance- based remuneration, and medium- to long-term incentive income. In principle, the proportion of performance- based remuneration shall account for no less than 50% of the sum of basic salary and performance-based remuneration. The annual basic salary is determined on the basis of factors such as job responsibilities and market remuneration levels, and is paid as a fixed monthly amount; the performance-based remuneration is linked to the results of the Company's annual business performance appraisal. The performance-based remuneration is paid following the disclosure of the Company's annual report and the completion of the performance appraisal. The Company has established a mechanism for the deferred payment and clawback of performance-based remuneration. The remuneration policy for other employees of the Group mainly implements a job performance wage system oriented towards job value, individual competence, and performance contribution. The performance-based wages are assessed and cashed out based on the overall economic benefits of the Company and individual performance.
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90 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 5 SIGNIFICANT EVENTS – CONTINUED (III) Auditors As considered and approved at the 2025 Annual Meeting of Shareholders convened by the Company on 26 June 2026, Baker Tilly China Certified Public Accountants LLP and Baker Tilly Hong Kong Limited were appointed as accountants of the Company for A Shares and H Shares for 2026, who are responsible for auditing, reviewing and internal control audit evaluation of the Company’s financial reports. The term of responsibility begins on the date of the conclusion of the 2025 Annual Meeting of Shareholders and ends on the date of the conclusion of the 2026 Annual Meeting of Shareholders. The audit service fees payable by the Company for domestic and overseas operations for 2026 amount to RMB9.8 million. The Company bears board and lodging costs induced by the accountants during their on- site auditing in the Company, and does not bear travel and other expenses. The Board of the Company was authorized to decide to pay for additional services such as follow-up audit and internal control audit evaluation due to the addition of new subsidiaries in the Company or changes in supervisory and regulatory rules. The Board of the Company believes that, except for the audit service fees for recurring engagements, other service fees paid by the Company to accountants will not affect the independent audit opinions of accountants. Under the Accounting and Financial Reporting Council Ordinance (Cap. 588 of the Laws of Hong Kong) (as amended, supplemented or otherwise modified from time to time), the auditor for the year 2026 appointed by the Company, Baker Tilly Hong Kong Limited, is a registered public interest entity auditor.
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CHAPTER 6 CHANGES IN SHARES AND SHAREHOLDERS 91 Yankuang Energy Group Company Limited Interim Report 2026 (All financial data listed was prepared in accordance with CASs) I. CHANGES IN SHARE CAPITAL (I) Table of Changes in Shares 1. Table of changes in shares Unit: share Before change Increase/Decrease (+,-) After change Shares Percentage (%) Others Sub-total Shares Percentage (%) I. Shares with trading moratorium 38,069,460 0.38 -38,069,460 -38,069,460 0 0 1. State-shareholding 0 0 0 0 0 0 2. State-owned legal person shareholding 0 0 0 0 0 0 3. Other domestic shareholding 38,069,460 0.38 -38,069,460 -38,069,460 0 0 Including: domestic shareholding by non-state owned legal person 0 0 0 0 0 0 domestic shareholding by natural person 38,069,460 0.38 -38,069,460 -38,069,460 0 0 4. Foreign shareholding 0 0 0 0 0 0 Including: foreign legal person shareholding 0 0 0 0 0 0 foreign natural person shareholding 0 0 0 0 0 0 II. Shares without trading moratorium 9,999,411,084 99.62 37,440,936 37,440,936 10,036,852,020 100 1. A Shares 5,923,911,084 59.02 37,440,936 37,440,936 5,961,352,020 59.39 2. Foreign shares listed domestically 0 0 0 0 0 0 3. Foreign shares listed overseas 4,075,500,000 40.60 0 0 4,075,500,000 40.61 4. Others 0 0 0 0 0 0 III. Total number of shares 10,037,480,544 100 -628,524 -628,524 10,036,852,020 100
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92 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 6 CHANGES IN SHARES AND SHAREHOLDERS – CONTINUED 2. Explanation on changes in shares Upon review and approval at the 21st meeting of the ninth session of the Board held on 11 February 2026, the Board approved the repurchase and cancellation of certain restricted shares that no longer met the incentive conditions, and confirmed that the conditions for lifting the restrictions under the third lock-up period of the Company’s 2021 A-Share Restricted Share Incentive Scheme had been fulfilled. As at the end of the reporting period, the Company had repurchased and cancelled 628,524 restricted shares, and 37,440,936 restricted shares had been unlocked and became tradable on the market. For details, please refer to the Company’s announcements dated 11 February 2026 regarding the repurchase and cancellation of certain restricted shares and the fulfilment of unlocking conditions, the announcement dated 11 March 2026 on the unlocking and listing of restricted shares, and the announcement dated 11 May 2026 on the implementation of repurchase and cancellation of restricted shares. Such information was published on the websites of the SSE, the Hong Kong Stock Exchange, the Company and/or China Securities Journal, Shanghai Securities News, Securities Times, and Securities Daily. 3. The impact of changes in ordinary shares on financial indicators such as earnings per share, net assets per share after reporting period to the disclosure date of this interim report (if any) Not applicable. 4. Other disclosures the Company deems necessary or required by securities regulatory institutions As at the disclosure date of this report, according to publicly available information and to the best of the Directors’ knowledge, the Directors believe that during the reporting period, the public float of the Company was more than 25% of the Company’s total issued shares, which is in compliance with the requirement of the Hong Kong Listing Rules.
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93 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 6 CHANGES IN SHARES AND SHAREHOLDERS – CONTINUED (II) Changes in Shares with Trading Moratorium Unit: Share Name of Shareholders Number of shares with trading moratorium at the beginning of the period Number of shares unlocked during the reporting period Number of shares increased with trading moratorium during the reporting period Number of shares decreased with trading moratorium during the reporting period Number of shares with trading moratorium at the end of the reporting period Reasons for trading moratorium Unlocking date Recipients of restricted share incentives (third unlocking period) 38,069,460 37,440,936 0 628,524 0 Restricted share incentive For details of changes in shares and unlocking date, please refer to the relevant contents of “share incentive” in “Chapter 4 Company Governance, Environment and Society” Total 38,069,460 37,440,936 0 628,524 0 / / II. SHAREHOLDERS (I) Total Number of Shareholders: Total number of ordinary Shareholders at the end of the reporting period 86,765 Total number of preferred Shareholders with restored voting rights at the end of the reporting period 0
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94 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 6 CHANGES IN SHARES AND SHAREHOLDERS – CONTINUED (II) Top Ten Shareholders and Top Ten Shareholders Holding Tradable Shares of the Company which are not Subject to Trading Moratorium as at the end of the Reporting Period Unit: share Shareholdings of the top ten Shareholders (excluding lending shares by means of financing transfer) Increase/ decrease during the Number of shares held at the end of the Percentage holding of the Number of shares held subject Number of pledged, marked or locked shares Name of Shareholder reporting reporting total share to trading Status Number Nature of (full name) period period capital moratorium of shares of shares Shareholder (%) Shandong Energy Group Co., Ltd. 0 5,303,899,421 52.84 0 Pledged 302,232,142 State-owned legal person HKSCC Nominees Limited 728,899 3,162,277,957 31.51 0 Unknown – Overseas legal person Hong Kong Securities Clearing Company Limited 6,979,209 82,149,997 0.82 0 No 0 Overseas legal person Industrial and Commercial Bank of China Co., Ltd. – Cathay CSI Coal Exchange Traded Open-End Index Securities Investment Fund 4,916,178 58,458,151 0.58 0 No 0 Others China Merchants Bank Co., Ltd. – Shanghai Stock Exchange Dividend Exchange Traded Open-End Index Securities Investment Fund 7,501,209 41,211,738 0.41 0 No 0 Others National Social Security Fund – Portfolio 15 19,252,236 30,252,335 0.30 0 No 0 Others China Life Insurance Co., Ltd. – Traditional – General Insurance Product – 005L – CT001 Shanghai 10,210,315 28,505,170 0.28 0 No 0 Others Bank of China Limited – E Fund CSI Dividend Exchange Traded Open- End Index Securities Investment Fund 5,234,774 16,961,981 0.17 0 No 0 Others GF Fund Management Co., Ltd. – Social Security Fund Portfolio 420 13,441,437 13,441,437 0.13 0 No 0 Others China Life Insurance Co., Ltd. – Dividends – Individual Dividends – 005L – FH002 Shanghai 3,779,881 13,349,886 0.13 0 No 0 Others
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95 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 6 CHANGES IN SHARES AND SHAREHOLDERS – CONTINUED Top ten Shareholders holding tradable shares not subject to trading moratorium (excluding lending shares by means of financing transfer) Name of Shareholder Number of tradable shares held not subject to trading moratorium Class and number of shares Class of shares Number of shares Shandong Energy Group Co., Ltd. 4,395,142,871 A Shares 4,395,142,871 908,756,550 H Shares 908,756,550 HKSCC Nominees Limited 3,162,277,957 H Shares 3,162,277,957 Hong Kong Securities Clearing Company Limited 82,149,997 A Shares 82,149,997 Industrial and Commercial Bank of China Co., Ltd. – Cathay CSI Coal Exchange Traded Open-End Index Securities Investment Fund 58,458,151 A Shares 58,458,151 China Merchants Bank Co., Ltd. – Shanghai Stock Exchange Dividend Exchange Traded Open-End Index Securities Investment Fund 41,211,738 A Shares 41,211,738 National Social Security Fund – Portfolio 15 30,252,335 A Shares 30,252,335 China Life Insurance Co., Ltd. – Traditional – Ordinary insurance products – 005L – CT001 HU 28,505,170 A Shares 28,505,170 Bank of China Limited – E Fund CSI Dividend Exchange Traded Open-End Index Securities Investment Fund 16,961,981 A Shares 16,961,981 GF Fund Management Co., Ltd. – Social Security Fund Portfolio 420 13,441,437 A Shares 13,441,437 China Life Insurance Co., Ltd. – Dividends – Individual Dividends – 005L – FH002HU 13,349,886 A Shares 13,349,886 Explanations on repurchase of special shares by the top 10 Shareholders Not applicable. Explanations on voting proxy, entrusted voting and abstention by the above Shareholders Not applicable. Connected relationship or concerted-party relationship among the above Shareholders China Life Insurance Co., Ltd. is the investment manager of “China Life Insurance Co., Ltd. – Traditional – Ordinary insurance products – 005L – CT001 HU” and “China Life Insurance Co., Ltd. – Dividends – Individual Dividends – 005L – FH002HU”. Apart from the disclosure above, it is unknown whether other Shareholders are connected with one another or whether any of these Shareholders fall within the meaning of parties acting in concert. Explanations on of preferred Shareholders with restored voting rights and the number of shares held by them Not applicable.
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96 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 6 CHANGES IN SHARES AND SHAREHOLDERS – CONTINUED Notes: Ǻ As of 30 June 2026, Shandong Energy directly and indirectly held a total of 5,303,899,421 shares of the Company, accounting for 52.84% of the total share capital of the Company, of which; (i) 4,395,142,871 A Shares of the Company were held through its own account; (ii) 606,524,408 H Shares of the Company were held through the own account of Yankuang Group (Hong Kong) Company Limited (“Yankuang Hong Kong”); and (iii) 302,232,142 H Shares of the Company held through Yankuang Hong Kong’s special corporate pledged account. ǻ All the information above, including “Total number of ordinary Shareholders at the end of the reporting period” and “Top ten Shareholders and top ten Shareholders holding tradable shares of the Company which are not subject to trading moratorium”, is prepared in accordance with the registers of the Shareholders provided by the Shanghai Branch of China Securities Depository and Clearing Corporation Limited and Computershare Hong Kong Investor Services Limited. Ǽ As the clearing and settlement agent for the Company’s H Shares, HKSCC Nominees Limited holds the Company’s H Shares in the capacity of a nominee. Hong Kong Securities Clearing Company Limited is the nominal holder of the Company’s shares traded through Shanghai Stock Connect. Shareholders with over 5% shares of the Company, the top ten Shareholders and top ten Shareholders holding tradable shares participating in refinancing business and lending shares Not applicable. Changes of top ten Shareholders and top ten Shareholders holding tradable shares from the previous period due to lending/returning of shares through refinancing Not applicable. The number of shares held by top ten Shareholders holding shares subject to trading moratorium and the restrictions Not applicable.
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97 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 6 CHANGES IN SHARES AND SHAREHOLDERS – CONTINUED (III) Substantial Shareholders’ Interests and/or Short Positions in the Shares and/or Underlying Shares of the Company As far as the Directors are aware, save as disclosed below, as of 30 June 2026, other than the Directors or chief executives of the Company, there were no other persons who were substantial Shareholders of the Company or had interest or short positions in the shares or underlying shares of the Company, which should (i) be disclosed pursuant to Sections 2 and 3 under Part XV of the Securities and Futures Ordinance (“SFO”); (ii) be recorded in the register to be kept pursuant to Section 336 of the SFO; or (iii) notify the Company and the Hong Kong Stock Exchange in other ways. Name of Substantial Shareholder Class of Shares Capacity Number of Shares Held (share) Nature of Interest Percentage in the H Share Capital of the Company Percentage in Total Share Capital in Issue of the Company Shandong Energy A Shares (state-owned legal person shares) Beneficial owner 4,395,142,871 Long position – 43.79% Shandong EnergyǺ H Shares Interest of controlled corporations 908,756,550 Long position 22.30% 9.05% 302,232,142 Short position 7.42% 3.01% Notes: Ǻ Yankuang Hong Kong holds such H Shares in the capacity of a beneficial owner. ǻ The percentage figures above have been rounded off to the nearest second decimal place. Ǽ Information disclosed herein is based on the information available on the website of the Hong Kong Stock Exchange at http://www.hkexnews.hk and information provided by the Shanghai Branch of China Securities Depository and Clearing Corporation Limited. (IV) Strategic Investor or Legal Person Became Top Ten Shareholders for Rights Issue Not applicable.
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98 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 6 CHANGES IN SHARES AND SHAREHOLDERS – CONTINUED III. DIRECTORS AND SENIOR MANAGEMENT (I) Changes in Shareholding of Current and Resigned Directors and Senior Management during the Reporting Period Unit: share Name Title Number of shares held at the beginning of the reporting period Number of shares held at the end of the reporting period Class of shares Increase/decrease of shareholding during the reporting period Reasons for increase/ decrease Li Wei Chairman 19,500 19,500 A Shares 0 – Wang Jiuhong Director, senior management 235,560 235,560 A Shares 0 – Yue Guangsheng Director 0 0 – 0 – Zhang Haijun Director 0 0 – 0 – Li Shipeng Director 0 0 – 0 – Su Li Director 100,000 100,000 H Shares 0 – Huang Xiaolong Director, senior management 312,000 312,000 A Shares 0 – 100,000 100,000 H Shares 0 – Li Weian Independent Director 0 0 – 0 – Gao Jingxiang Independent Director 0 0 – 0 – Woo Kar Tung, Independent Director 0 0 – 0 – Raymond Zhu Rui Independent Director 0 0 – 0 – Jin Jiahao Senior management 100,000 100,000 H Shares 0 – Kang Dan Senior management 235,560 235,560 A Shares 0 – 100,000 100,000 H Shares 0 – Gao Chunlei Senior management 156,000 156,000 A Shares 0 – 100,000 100,000 H Shares 0 – Yue Ning Senior management 0 0 – 0 – Zhao Zhiguo Senior management 100,000 100,000 H Shares 0 – Xu Changhou Senior management 108,390 108,390 A Shares 0 – Qi Junming Senior management 53,040 53,040 A Shares 0 – Li Jianzhong Senior management 8,960 8,960 A Shares 0 – Wang Baoqi Senior management 57,540 22,000 A Shares -35,540 Shareholding decrease Liu Jian Director (reassigned) 167,310 167,310 A Shares 0 – Liu Qiang Director (reassigned) 0 0 – 0 – Zhu Limin Independent Director (resigned) 0 0 – 0 – Zhang Zhaoyun Senior management (reassigned) 196,560 196,560 A Shares 0 – 100,000 100,000 H Shares 0 – Zhang Lei Senior management (reassigned) 0 0 – 0 –
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99 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 6 CHANGES IN SHARES AND SHAREHOLDERS – CONTINUED Other explanations 1. The above Directors and senior management are interested in the shares of the Company as beneficial owners (long position). 2. The shareholding decrease activities of Mr. Wang Baoqi occurred prior to his appointment as senior management of the Company. (II) Share Incentive Mechanism to the Directors and Senior Management during the Reporting Period Not applicable. (III) Other explanations Not applicable. IV. CHANGES IN CONTROLLING SHAREHOLDER OR DE FACTO CONTROLLER Not applicable. V. MATTERS RELATED TO PREFERENCE SHARES Not applicable.
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CHAPTER 7 BONDS 100 Yankuang Energy Group Company Limited Interim Report 2026 (All financial data listed was prepared in accordance with CASs) I. CORPORATE BONDS (INCLUDING ENTERPRISE BONDS) AND DEBT FINANCING INSTRUMENTS OF NON-FINANCIAL ENTERPRISES (I) Corporate Bonds (including Enterprise Bonds) 1. Basic information of corporate bonds Unit: RMB100 million Bond name Abbreviation Code Issue date Interest start date Most recent sell-back date after 31 August 2026 Maturity date Balance Interest rate (%) Way to repay principal and interest Trading location Lead underwriter Trustee Investor eligibility arrangement Trading mechanism Whether there is risk of delisting of quotation 2020 corporate bond (first tranche) (class 3) 20 Yanzhou Coal 03 163236 10 March 2020 12 March 2020 / 12 March 2030 20 4.29 Interest paid once a year, the entire principal repaid at one time at maturity the final interest paid together with the principal. Shanghai Stock Exchange Guotai Haitong Securities Guotai Haitong Securities Qualified investors Bidding, quotation, inquiry and transaction agreement No 2023 corporate bond (first tranche) (class 1) 23 Yankuang 01 115406 25 May 2023 26 May 2023 / 26 May 2028 10 3.34 Interest paid once a year, the entire principal repaid at one time at maturity the final interest paid together with the principal. Shanghai Stock Exchange CICC Ping An Securities Qualified investors Bidding, quotation, inquiry and transaction agreement No 2023 corporate bond (first tranche) (class 2) 23 Yankuang 02 115407 25 May 2023 26 May 2023 / 26 May 2033 20 3.80 Interest paid once a year, the entire principal repaid at one time at maturity the final interest paid together with the principal. Shanghai Stock Exchange CICC Ping An Securities Qualified investors Bidding, quotation, inquiry and transaction agreement No 2023 corporate bond (second tranche) (class 2) 23 Yankuang 04 115544 15 June 2023 16 June 2023 / 16 June 2033 20 3.75 Interest paid once a year, the entire principal repaid at one time at maturity the final interest paid together with the principal. Shanghai Stock Exchange CICC Ping An Securities Qualified investors Bidding, quotation, inquiry and transaction agreement No 2024 Science and Technology Innovation Corporate Bonds (first tranche) 24 Yankuang K1 240582 13 March 2024 14 March 2024 / 14 March 2034 30 3.03 Interest paid once a year, the entire principal repaid at one time at maturity the final interest paid together with the principal. Shanghai Stock Exchange CITIC Securities Ping An Securities Qualified investors Bidding, quotation, inquiry and transaction agreement No 2024 Science and Technology Innovation Renewable Corporate Bonds (first tranche)Ǻ Yankuang KY01 241141 17 June 2024 18 June 2024 / 18 June 2027 30 2.28 Interest paid once a year, the entire principal repaid at one time at maturity the final interest paid together with the principal. Shanghai Stock Exchange GF Securities Ping An Securities Qualified investors Bidding, quotation, inquiry and transaction agreement No
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101 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 7 BONDS – CONTINUED Bond name Abbreviation Code Issue date Interest start date Most recent sell-back date after 31 August 2026 Maturity date Balance Interest rate (%) Way to repay principal and interest Trading location Lead underwriter Trustee Investor eligibility arrangement Trading mechanism Whether there is risk of delisting of quotation 2024 Science and Technology Innovation Renewable Corporate Bonds (second tranche)ǻ Yankuang KY02 241324 24 July 2024 25 July 2024 / 25 July 2027 20 2.17 Interest paid once a year, the entire principal repaid at one time at maturity the final interest paid together with the principal. Shanghai Stock Exchange GF Securities Ping An Securities Qualified investors Bidding, quotation, inquiry and transaction agreement No 2024 Science and Technology Innovation Corporate Bonds (second tranche) 24 Yankuang K3 241379 2 August 2024 5 August 2024 / 5 August 2027 30 2.05 Interest paid once a year, the entire principal repaid at one time at maturity the final interest paid together with the principal. Shanghai Stock Exchange GF Securities Ping An Securities Qualified investors Bidding, quotation, inquiry and transaction agreement No 2024 Science and Technology Innovation Corporate Bonds (third tranche) 24 Yankuang K4 241636 12 September 2024 18 September 2024 / 18 September 2027 20 2.15 Interest paid once a year, the entire principal repaid at one time at maturity the final interest paid together with the principal. Shanghai Stock Exchange GF Securities Ping An Securities Qualified investors Bidding, quotation, inquiry and transaction agreement No 2025 Science and Technology Innovation Corporate Bonds (first tranche) (class 2) 25 Yankuang K2 242524 5 June 2025 6 June 2025 / 6 June 2030 30 2.02 Interest paid once a year, the entire principal repaid at one time at maturity the final interest paid together with the principal. Shanghai Stock Exchange GF Securities Ping An Securities Qualified investors Bidding, quotation, inquiry and transaction agreement No 2025 Science and Technology Innovation Renewable Corporate Bonds (First Tranche)Ǽ Yankuang KY04 243216 23 June 2025 23 June 2025 / 23 June 2027 30 1.86 Interest paid once a year, the entire principal repaid at one time at maturity, the final interest paid together with the principal Shanghai Stock Exchange GF Securities Ping An Securities Qualified investors Bidding, quotation, inquiry and transaction agreement No 2025 Science and Technology Innovation Corporate Bonds (Second Tranche) (class 1) 25 Yankuang K3 243671 8 September 2025 9 September 2025 / 9 September 2030 20 1.94 Interest paid once a year, the entire principal repaid at one time at maturity, the final interest paid together with the principal Shanghai Stock Exchange GF Securities Ping An Securities Qualified investors Bidding, quotation, inquiry and transaction agreement No 2025 Science and Technology Innovation Corporate Bonds (Third Tranche) (class 2) 25 Yankuang K6 244297 24 November 2025 24 November 2025 / 24 November 2030 30 2.00 Interest paid once a year, the entire principal repaid at one time at maturity, the final interest paid together with the principal Shanghai Stock Exchange GF Securities Ping An Securities Qualified investors Bidding, quotation, inquiry and transaction agreement No 2025 Science and Technology Innovation Renewable Corporate Bonds (Second Tranche) (class 2)ǽ Yankuang KY06 243905 20 October 2025 20 October 2025 / 20 October 2028 30 2.15 Interest paid once a year, the entire principal repaid at one time at maturity, the final interest paid together with the principal Shanghai Stock Exchange CSC Ping An Securities Qualified investors Bidding, quotation, inquiry and transaction agreement No 2026 Science and Technology Innovation Renewable Corporate Bonds (First Tranche)Ǿ Yankuang KY07 245511 10 July 2026 13 July 2026 / 13 July 2029 20 1.76 Interest paid once a year, the entire principal repaid at one time at maturity, the final interest paid together with the principal Shanghai Stock Exchange GF Securities Ping An Securities Qualified investors Bidding, quotation, inquiry and transaction agreement No
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102 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 7 BONDS – CONTINUED Notes: Ǻ For 2024 Science and Technology Innovation Renewable Corporate Bond (first tranche), every three interest- bearing years are regarded as one term. At the end of each term, the Company has the right to choose to extend the term of the current bond by one term (that is, by three years) or to repay the principal and interest of the current bond due at maturity in full at the end of the term. ǻ For 2024 Science and Technology Innovation Renewable Corporate Bond (second tranche), every three interest-bearing years are regarded as one term. At the end of each term, the Company has the right to choose to extend the term of the current bond placing by one term (that is, by three years) or to repay the principal and interest of the current bond due at maturity in full at the end of the term. Ǽ For 2025 Science and Technology Innovation Renewable Corporate Bond (first tranche), every two interest- bearing years are regarded as one term. At the end of each term, the Company has the right to choose to extend the term of the current bond placing by one term (that is, by two years) or to repay the principal and interest of the current bond due at maturity in full at the end of the term. ǽ For 2025 Science and Technology Innovation Renewable Corporate Bond (Second Tranche) (class 2), every three interest-bearing years are regarded as one term. At the end of each term, the Company has the right to choose to extend the term of the current bond placing by one term (that is, by three years) or choose to repay the principal and interest of the current bond due at maturity in full at the end of the term. Ǿ For 2026 Science and Technology Innovation Renewable Corporate Bond (First Tranche), every three interest- bearing years are regarded as one term. At the end of each term, the Company has the right to choose to extend the term of the current bond placing by one term (that is, by three years) or choose to repay the principal and interest of the current bond due at maturity in full at the end of the term. Countermeasures taken by the Company against the risk of delisting or quotation of the bonds Not applicable. 2. Trigger and enforcement of clauses on the Company or investor option as well as investor protection Not applicable. 3. Adjustments on credit rating results Not applicable. Other Explanations Not applicable. 4. Modification, changes, implementation and impact of guarantees, debt repayment plan and other solvency supporting measures during the reporting period Not applicable.
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103 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 7 BONDS – CONTINUED (II) Proceeds from Corporate Bonds All corporate bonds of the Company did not involve the use of proceeds or rectification during the reporting period. (III) Other Matters that Should be Disclosed for Special Grades of Bonds 1. The Company is the issuer of convertible bonds Not applicable. 2. The Company is the issuer of green corporate bonds Not applicable. 3. The Company is the issuer of renewable corporate bonds Unit: RMB100 million Bond code 241141 Bond abbreviation Yankuang KY01 Bond balance 30 Renewal status Not yet renewed Interests rate jump Not applicable Interests deferral Not applicable Compulsory interest payment Not applicable Whether the bonds are still recognised in equity and related accounting treatment Yes Other matters Not applicable Bond code 241324 Bond abbreviation Yankuang KY02 Bond balance 20 Renewal status Not yet renewed Interests rate jump Not applicable Interests deferral Not applicable Compulsory interest payment Not applicable Whether the bonds are still recognised in equity and related accounting treatment Yes Other matters Not applicable
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104 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 7 BONDS – CONTINUED Bond code 243216 Bond abbreviation Yankuang KY04 Bond balance 30 Renewal status Not yet renewed Interests rate jump Not applicable Interests deferral Not applicable Compulsory interest payment Not applicable Whether the bonds are still recognised in equity and related accounting treatment Yes Other matters Not applicable Bond code 243905 Bond abbreviation Yankuang KY06 Bond balance 30 Renewal status Not yet renewed Interests rate jump Not applicable Interests deferral Not applicable Compulsory interest payment Not applicable Whether the bonds are still recognised in equity and related accounting treatment Yes Other matters Not applicable Bond code 245511 Bond abbreviation Yankuang KY07 Bond balance 20 Renewal status Not yet renewed Interests rate jump Not applicable Interests deferral Not applicable Compulsory interest payment Not applicable Whether the bonds are still recognised in equity and related accounting treatment Yes Other matters Not applicable 4. The Company was an issuer of corporate bonds for poverty alleviation Not applicable. 5. The Company was an issuer of corporate bonds for rural revitalization Not applicable. 6. The Company was an issuer of Belt and Road Initiative corporate bonds Not applicable.
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105 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 7 BONDS – CONTINUED 7. The Company was an issuer of technology innovation corporate bonds or innovation and entrepreneurship corporate bonds Unit: RMB100 million The issuer category applicable to the bond Technology innovation enterprise Bond code 240582 Bond abbreviation 24 Yankuang K1 Bond balance 30 Progress of investments made by technology innovation projects or funds raised by financial institutions into the field of technological innovation Not applicable Effectiveness in promoting the development of technology and innovation Not applicable Operation of bond products (if any) Not applicable Other matters Not applicable The issuer category applicable to the bond Technology innovation enterprise Bond code 241141 Bond abbreviation Yankuang KY01 Bond balance 30 Progress of investments made by technology innovation projects or funds raised by financial institutions into the field of technological innovation Not applicable Effectiveness in promoting the development of technology and innovation Not applicable Operation of bond products (if any) Not applicable Other matters Not applicable
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106 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 7 BONDS – CONTINUED The issuer category applicable to the bond Technology innovation enterprise Bond code 241324 Bond abbreviation Yankuang KY02 Bond balance 20 Progress of investments made by technology innovation projects or funds raised by financial institutions into the field of technological innovation Not applicable Effectiveness in promoting the development of technology and innovation Not applicable Operation of bond products (if any) Not applicable Other matters Not applicable The issuer category applicable to the bond Technology innovation enterprise Bond code 241379 Bond abbreviation 24 Yankuang K3 Bond balance 30 Progress of investments made by technology innovation projects or funds raised by financial institutions into the field of technological innovation Not applicable Effectiveness in promoting the development of technology and innovation Not applicable Operation of bond products (if any) Not applicable Other matters Not applicable
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107 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 7 BONDS – CONTINUED The issuer category applicable to the bond Technology innovation enterprise Bond code 241636 Bond abbreviation 24 Yankuang K4 Bond balance 20 Progress of investments made by technology innovation projects or funds raised by financial institutions into the field of technological innovation Not applicable Effectiveness in promoting the development of technology and innovation Not applicable Operation of bond products (if any) Not applicable Other matters Not applicable The issuer category applicable to the bond Technology innovation enterprise Bond code 242524 Bond abbreviation 25 Yankuang K2 Bond balance 30 Progress of investments made by technology innovation projects or funds raised by financial institutions into the field of technological innovation Not applicable Effectiveness in promoting the development of technology and innovation Not applicable Operation of bond products (if any) Not applicable Other matters Not applicable
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108 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 7 BONDS – CONTINUED The issuer category applicable to the bond Technology innovation enterprise Bond code 243216 Bond abbreviation Yankuang KY04 Bond balance 30 Progress of investments made by technology innovation projects or funds raised by financial institutions into the field of technological innovation Not applicable Effectiveness in promoting the development of technology and innovation Not applicable Operation of bond products (if any) Not applicable Other matters Not applicable The issuer category applicable to the bond Technology innovation enterprise Bond code 243671 Bond abbreviation 25 Yankuang K3 Bond balance 20 Progress of investments made by technology innovation projects or funds raised by financial institutions into the field of technological innovation Not applicable Effectiveness in promoting the development of technology and innovation Not applicable Operation of bond products (if any) Not applicable Other matters Not applicable
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109 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 7 BONDS – CONTINUED The issuer category applicable to the bond Technology innovation enterprise Bond code 243905 Bond abbreviation Yankuang KY06 Bond balance 30 Progress of investments made by technology innovation projects or funds raised by financial institutions into the field of technological innovation Not applicable Effectiveness in promoting the development of technology and innovation Not applicable Operation of bond products (if any) Not applicable Other matters Not applicable The issuer category applicable to the bond Technology innovation enterprise Bond code 244297 Bond abbreviation 25 Yankuang K6 Bond balance 30 Progress of investments made by technology innovation projects or funds raised by financial institutions into the field of technological innovation Not applicable Effectiveness in promoting the development of technology and innovation Not applicable Operation of bond products (if any) Not applicable Other matters Not applicable
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110 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 7 BONDS – CONTINUED The issuer category applicable to the bond Technology innovation enterprise Bond code 245511 Bond abbreviation Yankuang KY07 Bond balance 20 Progress of investments made by technology innovation projects or funds raised by financial institutions into the field of technological innovation Not applicable Effectiveness in promoting the development of technology and innovation Not applicable Operation of bond products (if any) Not applicable Other matters Not applicable 8. The Company was an issuer of low-carbon transition (linked) corporate bonds Not applicable. 9. The Company was an issuer of corporate bonds for bailout Not applicable. 10. The Company was an issuer of bonds to support micro, small and medium-sized enterprises (MSME) Not applicable. 11. Matters related to other special-purpose corporate bonds Not applicable.
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111 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 7 BONDS – CONTINUED (IV) Material Matters in relation to Corporate Bonds during the Reporting Period 1. Liabilities (1) Interests-bearing liabilities and changes therein 1.1 Debt structure of the Company At the beginning of the reporting period and at the end of the reporting period, the balance of interest-bearing debts of the Company (non-consolidated) was RMB108.598 billion and RMB96.238 billion, respectively, and the year-on-year change in the balance of interest- bearing debts during the reporting period was -11.4%. Unit: RMB100 million Type of interest-bearing debt Maturity Total amount As a percentage of total interest bearing debts (%)Overdue Within one year (inclusive) More than one year (exclusive) Corporate credit bonds – 53.52 229.67 283.19 29.43 Bank loans – 321.85 273.34 595.19 61.84 Loans from non-bank financial institutions – – 77.63 77.63 8.07 Other interest-bearing debts – – 6.37 6.37 0.66 Total – 375.37 587.01 962.38 – At the end of the reporting period, of the Company’s corporate credit bonds in existence, the balance of corporate bonds was RMB23.215 billion, the balance of enterprise bonds was RMB0 billion, and the balance of debt financing instruments of non-financial enterprises was RMB5.104 billion.
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112 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 7 BONDS – CONTINUED 1.2 Consolidated interest-bearing debt structure of the Company At the beginning of the reporting period and at the end of the reporting period, the balance of interest-bearing debts of the Company within the scope of the Company’s consolidated financial statements was RMB147.776 billion and RMB144.011 billion, respectively, and the year-on-year change in the balance of interest-bearing debts during the reporting period was -2.6%. Unit: RMB100 million Type of interest-bearing debt Maturity Total amount As a percentage of total interest bearing debts (%)Overdue Within one year (Inclusive) More than one year (Exclusive) Corporate credit bonds – 53.52 239.67 293.19 20.36 Bank loans – 458.87 528.48 987.35 68.56 Loans from non-bank financial institutions – 2 0.25 2.25 0.16 Other interest-bearing debts – – 157.32 157.32 10.92 Total – 514.39 925.72 1,440.11 – At the end of the reporting period, of the Company’s corporate credit bonds in existence (consolidated), the balance of corporate bonds was RMB24.215 billion, the balance of enterprise bonds was RMB0 billion, and the balance of debt financing instruments of non- financial enterprises was RMB5.104 billion. 1.3 Foreign bonds As at the end of the reporting period, the balance of foreign bonds issued within the scope of the consolidated financial statements of the Company was RMB0 billion.
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113 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 7 BONDS – CONTINUED (2) At the end of the reporting period, the Company and its subsidiaries had interest-bearing debts with an overdue amount of more than RMB10 million or amounting to 5% or more of the Company’s net assets at the end of the previous year on a consolidated basis or corporate credit bonds which were overdue Not applicable. (3) Seniority of liabilities against third parties As of the end of reporting period, the seniority of liabilities against third parties within the scope of the Company’s consolidated statements: Not applicable. 2. Changes in management system for information disclosure during the Reporting Period No changes occurred.
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114 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 7 BONDS – CONTINUED (V) Debt Financing Instruments of Non-Financial Enterprises on the Interbank Bond Market 1. Basic information of debt financing instruments of non-financial enterprises Unit: RMB100 million Bond name Abbreviation Code Issue date Interest start date Maturity date Balance Interest rate (%) Way to repay principal and interest Trading location Investor eligibility arrangement (if any) Trading mechanism Whether there is risk of delisting 2022 medium-term note (first tranche) (class 2)Ǻ 22 Yankuang Energy MTN001B 102281099 18 May 2022 20 May 2022 20 May 2027 5 3.71 Interest paid once a year, the entire principal repaid at one time at maturity, the final interest paid together with the principal. Interbank bond market Inter-bank bond market The institutional investors from the inter-bank bond market Circulation and transfer at the national inter- bank bond market No 2024 medium-term note (S&T innovation note) (first tranche)ǻ 24 Yankuang Energy MTN001(S&T innovation note) 102480413 31 January 2024 2 February 2024 2 February 2027 30 2.85 Interest paid once a year, the entire principal repaid at one time at maturity, the final interest paid together with the principal. Interbank bond market Inter-bank bond market The institutional investors from the inter-bank bond market Circulation and transfer at the national inter- bank bond market No 2024 medium-term note (S&T innovation note) (second tranche)Ǽ 24 Yankuang Energy MTN002(S&T innovation note) 102484700 28 October 2024 30 October 2024 30 October 2026 15 2.43 Interest paid once a year, the entire principal repaid at one time at maturity, the final interest paid together with the principal. Interbank bond market Inter-bank bond market The institutional investors from the inter-bank bond market Circulation and transfer at the national inter- bank bond market No 2024 medium-term note (S&T innovation note) (third tranche)ǽ 24 Yankuang Energy MTN003(S&T innovation note) 102485067 20 November 2024 22 November 2024 22 November 2026 15 2.26 Interest paid once a year, the entire principal repaid at one time at maturity, the final interest paid together with the principal. Interbank bond market Inter-bank bond market The institutional investors from the inter-bank bond market Circulation and transfer at the national inter- bank bond market No 2024 medium-term note (fourth tranche)Ǿ 24 Yankuang Energy MTN004 102485351 9 December 202411 December 2024 11 December 2026 20 2.06 Interest paid once a year, the entire principal repaid at one time at maturity, the final interest paid together with the principal. Interbank bond market Inter-bank bond market The institutional investors from the inter-bank bond market Circulation and transfer at the national inter- bank bond market No 2025 medium-term note (first tranche)ǿ 25 Yankuang Energy MTN001 102581977 28 April 2025 29 April 2025 29 April 2027 30 2.09 Interest paid once a year, the entire principal repaid at one time at maturity, the final interest paid together with the principal. Interbank bond market Inter-bank bond market The institutional investors from the inter-bank bond market Circulation and transfer at the national inter- bank bond market No
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115 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 7 BONDS – CONTINUED Bond name Abbreviation Code Issue date Interest start date Maturity date Balance Interest rate (%) Way to repay principal and interest Trading location Investor eligibility arrangement (if any) Trading mechanism Whether there is risk of delisting 2025 S&T innovation bond (second tranche)Ȁ 25 Yankuang Energy MTN002 (S&T bond) 102584519 27 October 2025 29 October 2025 29 October 2027 30 1.96 Interest paid once a year, the entire principal repaid at one time at maturity, the final interest paid together with the principal Inter-bank bond market The institutional investors from the inter-bank bond market Circulation and transfer at the national inter- bank bond market No 2025 S&T innovation bond (third tranche)ȁ 25 Yankuang Energy MTN003 (S&T bond) 102584729 12 November 2025 14 November 2025 14 November 2028 30 2.06 Interest paid once a year, the entire principal repaid at one time at maturity, the final interest paid together with the principal Inter-bank bond market The institutional investors from the inter-bank bond market Circulation and transfer at the national inter- bank bond market No 2025 S&T innovation bond (fourth tranche) 25 Yankuang Energy SCP004 (S&T bond) 012582997 8 December 2025 9 December 2025 5 September 2026 30 1.65 The entire principal repaid at one time at maturity, the interest paid together with the principal Inter-bank bond market The institutional investors from the inter-bank bond market Circulation and transfer at the national inter- bank bond market No 2026 S&T innovation bond (M&A) (first tranche)Ȃ 26 Yankuang Energy MTN001 (S&T bond/ M&A) 102681742 28 April 2026 29 April 2026 29 April 2029 20 1.84 Interest paid once a year, the entire principal repaid at one time at maturity, the final interest paid together with the principal Inter-bank bond market The institutional investors from the inter-bank bond market Circulation and transfer at the national inter- bank bond market No 2026 medium-term note (M&A) (second tranche) (class 1)ȃ 26 Yankuang Energy MTN002A (M&A) 102683027 11 August 2026 13 August 2026 13 August 2029 12 1.75 Interest paid once a year, the entire principal repaid at one time at maturity, the final interest paid together with the principal. Inter-bank bond market The institutional investors from the inter-bank bond market Circulation and transfer at the national inter- bank bond market No 2026 medium-term note (M&A) (second tranche) (class 2)㖼11 26 Yankuang Energy MTN002B (M&A) 102683028 11 August 2026 13 August 2026 13 August 2031 13 1.95 Interest paid once a year, the entire principal repaid at one time at maturity, the final interest paid together with the principal. Inter-bank bond market The institutional investors from the inter-bank bond market Circulation and transfer at the national inter- bank bond market No
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116 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 7 BONDS – CONTINUED Notes: Ǻ For 2022 medium term note (first tranche) (class 2), every five interest-bearing years are regarded as one term. At the end of each term, the Company has the right to choose to extend the term of the current bond by one term (that is, by five years) or to repay the principal and interest of the current bond due at maturity in full at the end of the term. ǻ For 2024 medium term note (S&T innovation note) (first tranche), every three interest-bearing years are regarded as one term. At the end of each term, the Company has the right to choose to extend the term of the current bond by one term (that is, by three years) or to repay the principal and interest of the current bond due at maturity in full at the end of the term. Ǽ For 2024 medium term note (S&T innovation note) (second tranche), every two interest-bearing years are regarded as one term. At the end of each term, the Company has the right to choose to extend the term of the current bond by one term (that is, by two years) or to repay the principal and interest of the current bond due at maturity in full at the end of the term. ǽ For 2024 medium term note (S&T innovation note) (third tranche), every two interest-bearing years are regarded as one term. At the end of each term, the Company has the right to choose to extend the term of the current bond by one term (that is, by two years) or to repay the principal and interest of the current bond due at maturity in full at the end of the term. Ǿ For 2024 medium term note (fourth tranche), every two interest-bearing years are regarded as one term. At the end of each term, the Company has the right to choose to extend the term of the current bond by one term (that is, by two years) or to repay the principal and interest of the current bond due at maturity in full at the end of the term. ǿ For 2025 medium term note (first tranche), every two interest-bearing years are regarded as one term. At the end of each term, the Company has the right to choose to extend the term of the current bond by one term (that is, by two years) or to repay the principal and interest of the current bond due at maturity in full at the end of the term. Ȁ For 2025 S&T innovation bond medium-term note (second tranche), every two interest-bearing years are regarded as one term. At the end of each term, the Company has the right to choose to extend the term of the current medium-term note by one term (that is, by two years) or choose to repay the principal and interest of the current medium-term note due at maturity in full at the end of the terms. ȁ For 2025 technology innovation bond (third tranche), every three interest-bearing years are regarded as one term. At the end of each term, the Company has the right to choose to extend the term of the current medium- term note by one term (that is, by three years) or choose to repay the principal and interest of the current medium-term note due at maturity in full at the end of the term. Ȃ For 2026 technology innovation bond (M&A) (first tranche), every three interest-bearing years are regarded as one term. At the end of each term, the Company has the right to choose to extend the term of the current medium-term note by one term (that is, by three years) or choose to repay the principal and interest of the current medium-term note due at maturity in full at the end of the term. ȃ For 2026 medium term note (M&A) (second tranche) (class 1), every three interest-bearing years are regarded as one term. At the end of each term, the Company has the right to choose to extend the term of the current medium-term note by one term (that is, by three years) or choose to repay the principal and interest of the current medium-term note due at maturity in full at the end of the term. 㖼11 For 2026 medium term note (M&A) (second tranche) (class 2), every five interest-bearing years are regarded as one term. At the end of each term, the Company has the right to choose to extend the term of the current medium-term note by one term (that is, by five years) or choose to repay the principal and interest of the current medium-term note due at maturity in full at the end of the term.
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117 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 7 BONDS – CONTINUED Countermeasures taken by the Company against the risk of delisting of the bonds Not applicable. Overdue outstanding bonds Not applicable. Explanation of overdue debts Not applicable. 2. Trigger and enforcement of clauses on the Company or investor option as well as investor protection Not applicable. 3. Adjustments on credit rating results Not applicable. Other explanations Not applicable. 4. Implementation, changes and impact of guarantees, debt repayment plan and other solvency supporting measures during the reporting period Not applicable. Other explanations Not applicable. 5. Explanations on other conditions of debt financing instruments of non-financial enterprises Not applicable. (VI) Loss in the Consolidated Financial Statements of the Company during the Reporting Period Exceeding 10% of the Net Assets at the End of the Previous Year Not applicable.
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118 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 7 BONDS – CONTINUED (VII) Violations of provisions and commitments The impact on the rights and interests of bond investors due to violation of laws and regulations, self-regulation rules, the Articles, information disclosure system as well as provisions or commitments in the prospectus of bond offerings during the reporting period Not applicable. (VIII) Major Accounting Data and Financial Indicators Unit: RMB0’000 Main indicator As at the end of the reporting period As at the end of 2025 Increase/decrease as at the end of the reporting period compared with that as at the end of 2025 (%) Current ratio 0.88 0.84 4.76 Quick ratio 0.77 0.74 4.05 Debt-to-asset ratio (%) 60.93 62.23 Decreased by 1.30 percentage points January to June 2026 January to June 2025 Increase/decrease during the reporting period compared with that in the same period in 2025 (%) Net profit after deducting extraordinary gains or losses 460,724 442,966 4.01 Total debt to EBITDA ratio 6.29 7.40 -15.00 Interest coverage ratio 6.88 5.22 31.80 Cash interest coverage ratio 7.35 8.24 -10.80 EBITDA interest coverage ratio 11.28 9.11 23.82 Loan repayment ratio (%) 100 100 0 Interest coverage ratio (%) 100 100 0 II. CONVERTIBLE CORPORATE BONDS Not applicable.
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CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS 119 Yankuang Energy Group Company Limited Interim Report 2026 CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS FOR THE SIX MONTHS ENDED 30 JUNE 2026 (Expressed in Renminbi) Six months ended 30 June 2026 2025 Notes RMB’000 RMB’000 (Restated) (Unaudited) (Unaudited) Gross sales of coal 46,414,125 40,890,373 Smart logistic services income 7,632,421 5,144,311 Gross sales of electricity and heat supply 1,431,559 1,554,400 Gross sales of equipment manufacturing 1,006,055 716,141 Gross sales of chemical products 13,746,925 12,551,965 Total revenue 70,231,085 60,857,190 Transportation costs 2,613,288 2,352,709 Cost of sales of coal 28,944,564 25,940,223 Cost of smart logistic services provided 7,421,800 4,892,414 Cost of electricity and heat supply 1,272,326 1,374,957 Cost of equipment manufacturing 719,427 494,839 Cost of chemical products 10,517,173 9,641,532 Total cost of sales 51,488,578 44,696,674 Gross profit 18,742,507 16,160,516 Selling, general and administrative expenses (8,157,834) (7,437,564) Share of results of associates 1,959,769 1,263,910 Share of results of joint ventures (359,974) (68,699) Other income and gains/losses, net 3,380,129 2,244,033 Finance costs 5 (2,039,818) (2,184,484) Profit before tax 7 13,524,779 9,977,712 Income tax expense 6 (2,479,487) (2,011,677) Profit for the period 11,045,292 7,966,035 Attributable to: Equity shareholders of the Company 7,874,971 5,009,593 Owners of perpetual capital securities 334,289 313,173 Non-controlling interests 2,836,032 2,643,269 11,045,292 7,966,035 Earnings per share, basic 9 0.78 0.50 Earnings per share, diluted 9 0.78 0.50
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120 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED 30 JUNE 2026 (Expressed in Renminbi) Six months ended 30 June 2026 2025 RMB’000 RMB’000 (Restated) (Unaudited) (Unaudited) Profit for the period 11,045,292 7,966,035 Items that will not be reclassified subsequently to profit or loss: Fair value loss on investments in equity instruments designated as at fair value through other comprehensive income (“FVTOCI”) (117) 926 Income tax relating to item that will not be reclassified subsequently to profit or loss 29 (132) (88) 794 Items that may be reclassified subsequently to profit or loss: Cash flow hedges: Reclassification adjustments for amounts transferred to income statement 389,707 – Deferred taxes (116,912) – 272,795 – Share of other comprehensive income/(expense) of associates 32,388 (175,142) Exchange differences arising on translation of foreign operations (87,301) 1,639,685 217,882 1,464,543 Other comprehensive income for the period, net of income tax 217,794 1,465,337 Total comprehensive income for the period 11,263,086 9,431,372 Attributable to: Equity shareholders of the Company 8,021,654 5,855,314 Owners of perpetual capital securities 334,289 313,173 Non-controlling interests 2,907,143 3,262,885 11,263,086 9,431,372
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121 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2026 (Expressed in Renminbi) At 30 June At 31 December 2026 2025 Notes RMB’000 RMB’000 (Unaudited) (Audited) Non-current assets Intangible assets 95,359,245 96,752,617 Property, plant and equipment 10 165,720,953 166,606,332 Right-of-use assets 11 7,405,194 7,279,368 Investment properties 1,740,922 1,747,691 Prepayments for intangible assets and property, plant and equipment 12,749,201 12,614,749 Goodwill 894,142 894,716 Investments in securities 1,250,899 1,262,089 Interests in associates 27,119,974 25,660,514 Interests in joint ventures 861,113 1,222,894 Long-term receivables 9,645,186 7,460,112 Royalty receivables 725,275 822,392 Deposits made on investments 117,926 117,926 Deferred tax assets 3,402,261 3,085,317 326,992,291 325,526,717 Current assets Inventories 9,300,547 7,564,617 Financial assets at fair value through profit or loss (“FVTPL”) 513 668 Other financial assets at amortised cost 5,335,338 787,776 Contingent consideration receivable 12 6,805 6,805 Long-term receivables – due within one year 590,337 2,795,520 Royalty receivables 90,332 80,514 Bills and accounts receivables 13 14,375,681 12,355,257 Prepayments and other receivables 14 52,416,276 47,065,904 Performance compensation receivable from the Parent Company – 18,360,561 Restricted cash 15 12,358,818 10,748,130 Pledged term deposits 15 150,664 3,340 Bank balances and cash 15 42,385,437 26,676,555 137,010,748 126,445,647 Total assets 464,003,039 451,972,364
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122 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED At 30 June At 31 December 2026 2025 Notes RMB’000 RMB’000 (Unaudited) (Audited) Non-current liabilities Provisions for land subsidence, restoration, rehabilitation and environmental costs 17 14,001,250 13,429,276 Provisions 11,924,023 11,737,495 Borrowings 18 77,211,460 80,559,775 Lease liabilities 11 24,953 425,643 Long term payables 15,346,952 15,796,268 Deferred tax liabilities 10,475,653 9,807,018 128,984,291 131,755,475 Current liabilities Bills and accounts payables 16 33,356,006 34,949,715 Other payables and accrued expenses 55,243,134 45,929,839 Contract liabilities 6,296,359 6,330,233 Provisions for land subsidence, restoration, rehabilitation and environmental costs 17 367,187 812,479 Provisions 70,339 20,638 Amounts due to Parent Company and its subsidiaries 5,826,595 8,327,062 Borrowings 18 51,236,445 50,751,933 Financial liabilities at FVTPL 344,257 360,192 Lease liabilities 11 200,345 241,982 Tax payables 944,958 1,324,626 Long term payables – due within one year 334,610 269,464 154,220,235 149,318,163 Total liabilities 283,204,526 281,073,638 Capital and reserves Share capital 19 10,036,852 10,037,481 Reserves 19 66,078,524 61,251,180 Equity attributable to equity shareholders of the Company 76,115,376 71,288,661 Owners of perpetual capital securities 20 31,811,177 29,767,838 Non-controlling interests 72,871,960 69,842,227 Total equity 180,798,513 170,898,726 Total liabilities and equity 464,003,039 451,972,364 CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION – CONTINUED AS AT 30 JUNE 2026 (Expressed in Renminbi)
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123 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE SIX MONTHS ENDED 30 JUNE 2026 (Expressed in Renminbi) Attributable to equity shareholders of the Company Share capital Share premium Treasury shares Capital reserve and future development fund Share- based compensation reserve Statutory common reserve Translation reserve Investment revaluation reserve Cash flow hedge reserve Retained earnings Total Perpetual capital securities Non- controlling interests Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 (Note 19) (Note 19) (Note 20) At 1 January 2025 (Restated) 10,039,860 8,100,734 – 3,813,268 705,513 2,841,391 (8,215,506) (1,125,910) (272,739) 48,120,939 64,007,550 23,267,221 61,627,069 148,901,840 Profit for the period – – – – – – – – – 5,009,593 5,009,593 313,173 2,643,269 7,966,035 Other comprehensive income/(expenses) for the period: Fair value change of financial assets at FVTOCI – – – – – – – 352 – – 352 – 442 794 Share of other comprehensive income of associates – – – – – – – (175,142) – – (175,142) – – (175,142) Exchange differences arising on translation of foreign operations – – – – – – 1,020,511 – – – 1,020,511 – 619,174 1,639,685 Total comprehensive income/(expense) for the period – – – – – – 1,020,511 (174,790) – 5,009,593 5,855,314 313,173 3,262,885 9,431,372 Issuance of perpetual capital securities – – – – – – – – – – – 6,000,000 – 6,000,000 Redemption of perpetual capital securities – – – – – – – – – – – (4,491,900) – (4,491,900) Distribution paid to holders of perpetual capital securities – – – – – – – – – – – (320,450) – (320,450) Appropriations to statutory reserves – – – – – 111,161 – – – (111,161) – – – – Capital injection from non-controlling interests – – – – – – – – – – – – 600 600 Cancellation of shares (2,379) (961) – 3,340 – – – – – – – – – – Recognition of equity-settled share-based payment expenses – – – – 86,585 – – – – – 86,585 – 57,175 143,760 Dividends – – – – – – – – – (5,420,239) (5,420,239) – – (5,420,239) Dividends to non-controlling interests – – – – – – – – – – – – (1,971,674) (1,971,674) Step acquisition from an associate to a subsidiary – – – – – – – – – – – – 29,163 29,163 Deemed disposal from a subsidiary to an associate – – – – – – – – – – – – (8,122) (8,122) Business combination under common control – – – 3,458,071 – – – – – – 3,458,071 – (3,458,071) – Dividend paid/payable to former shareholders of a subsidiary related to business combination under common control – – – (7,000,000) – – – – – – (7,000,000) – – (7,000,000) Others – – – 24,986 – – – – – (9,600) 15,386 – (24,642) (9,256) Transactions with owners (2,379) (961) – (3,513,603) 86,585 111,161 – – – (5,541,000) (8,860,197) 1,187,650 (5,375,571) (13,048,118) At 30 June 2025 (Unaudited) 10,037,481 8,099,773 – 299,665 792,098 2,952,552 (7,194,995) (1,300,700) (272,739) 47,589,532 61,002,667 24,768,044 59,514,383 145,285,094
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124 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY – CONTINUED FOR THE SIX MONTHS ENDED 30 JUNE 2026 (Expressed in Renminbi) Attributable to equity shareholders of the Company Share capital Share premium Treasury shares Capital reserve and future development fund Share- based compensation reserve Statutory common reserve Translation reserve Investment revaluation reserve Cash flow hedge reserve Retained earnings Total Perpetual capital securities Non- controlling interests Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 (Note 19) (Note 19) (Note 20) At 1 January 2026 (Audited) (restated) 10,037,481 8,099,773 – 12,380,236 751,161 554,453 (6,987,892) (1,250,899) (169,842) 47,874,190 71,288,661 29,767,838 69,842,227 170,898,726 Profit for the period – – – – – – – – – 7,874,971 7,874,971 334,289 2,836,032 11,045,292 Other comprehensive income/(expenses) for the period: Fair value change of financial assets at FVTOCI – – – – – – – (88) – – (88) – – (88) Revaluation on reclassification of investment properties – – – – – – – – – – – – – – Cash flow hedge reserve recognised – – – – – – – – 169,842 – 169,842 – 102,953 272,795 Share of other comprehensive income of associates – – – – – – – 32,388 – – 32,388 – – 32,388 Exchange differences arising on translation of foreign operations – – – – – – (55,459) – – – (55,459) – (31,842) (87,301) Total comprehensive income/(expense) for the period – – – – – – (55,459) 32,300 169,842 7,874,971 8,021,654 334,289 2,907,143 11,263,086 Issuance of perpetual capital securities – – – – – – – – – – – 2,000,000 – 2,000,000 Distribution paid to holders of perpetual capital securities – – – – – – – – – – – (290,950) – (290,950) Capital injection from non-controlling interests – – – – – – – – – – – – 498,460 498,460 Cancellation of shares (629) 200 – 429 – – – – – – – – – – Recognition of equity-settled share-based payment expenses – – – – 36,556 – – – – – 36,556 – (4,870) 31,686 Dividends – – – – – – – – – (3,211,164) (3,211,164) – – (3,211,164) Dividends to non-controlling interests – – – – – – – – – – – – (389,883) (389,883) Repurchase of treasury shares – – (50,930) – – – – – – – (50,930) – – (50,930) Others – – – 34,099 – – – – – (3,500) 30,599 – 18,883 49,482 Transactions with owners (629) 200 (50,930) 34,528 36,556 – – – – (3,214,664) (3,194,939) 1,709,050 122,590 (1,363,299) At 30 June 2026 (Unaudited) 10,036,852 8,099,973 (50,930) 12,414,764 787,717 554,453 (7,043,351) (1,218,599) – 52,534,497 76,115,376 31,811,177 72,871,960 180,798,513
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125 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED 30 JUNE 2026 (Expressed in Renminbi) Six months ended 30 June 2026 2025 RMB’000 RMB’000 (Restated) (Unaudited) (Unaudited) Net cash generated from operating activities 12,119,389 12,639,075 Investing activities Withdrawal of pledged term deposits (1,610,687) (88,182) Placement of restricted cash (147,324) (452,530) Placement of short-term bank deposits (2,149,850) – Purchase of intangible assets – (8,333) Purchase of property, plant and equipment and right of use assets, and payments to construction in progress (9,353,641) (7,409,622) Proceeds from disposal of property, plant and equipment 105,963 323,527 Proceeds from disposal of intangible assets – 1,122 Increase in deposit paid for intangible assets and property, plant and equipment (1,421,994) (540,313) Receipts from other investments – 76,605 Receipts for financial assets and liabilities at FVTPL 28,192 53,359 Dividend received from associates and joint ventures 353,981 372,626 Payments for acquisition of subsidiaries (56,240) (23,816) Payments for interests in associates (93,298) – Net cash inflow/(outflow) arising from disposal of a subsidiary 2,988,682 (33,591) Loan receivables repaid/(advanced), net 2,431,450 (758,978) Other investing activities (198,108) 4,126 Net cash used in investing activities (9,122,874) (8,484,000)
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126 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED Six months ended 30 June 2026 2025 RMB’000 RMB’000 (Restated) (Unaudited) (Unaudited) Financing activities Proceeds from borrowings 41,549,611 31,253,637 Repayments of borrowings (42,785,770) (23,171,576) Proceeds from issuance of perpetual capital securities 2,000,000 6,000,000 Redemption of perpetual capital securities – (4,491,900) Distribution paid to holders of perpetual capital securities (290,950) (320,450) Repayment of lease liabilities (107,326) (337,088) Dividends paid – (3,222,578) Dividends paid to non-controlling shareholders (5,971,304) (2,831,538) Contribution from non-controlling interests 490,000 631,259 Payment of repurchase of shares (51,676) – Receipt of performance compensation 18,360,561 – Business combination under common control (344,847) (1,899,301) Net cash generated from financing activities 12,848,299 1,610,465 Net increase in cash and cash equivalents 15,844,814 5,765,540 Cash and cash equivalents at beginning of period 26,676,555 32,633,789 Effect of foreign exchange rate changes (135,932) 234,731 Cash and cash equivalents at end of period 42,385,437 38,634,060 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS – CONTINUED FOR THE SIX MONTHS ENDED 30 JUNE 2026 (Expressed in Renminbi)
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127 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Expressed in Renminbi) 1 GENERAL INFORMATION Yankuang Energy Group Company Limited (the “Company”) is established as a joint stock company with limited liability in the People’s Republic of China (the “PRC”). In April 2001, the status of the Company was changed to that of a Sino-foreign joint stock limited company. The Company’s A shares are listed on the Shanghai Stock Exchange (“SSE”) while its H shares are listed on The Stock Exchange of Hong Kong Limited (the “SEHK”). The Company’s parent and ultimate holding company is Shandong Energy Group Company Limited (the “Parent Company”), a state- owned enterprise in the PRC. The Company’s addresses of the registered office and principal place of business are disclosed in the Group Profile and General Information section of the interim financial report. The Company’s principal activities are investment holdings, coal mining and coal railway transportation. The Company’s subsidiaries are principally engaged in coal mining, smart logistics, electricity and heat supply, equipment manufacturing and chemical products. The condensed consolidated financial statements is presented in Renminbi (“RMB”), which is also the functional currency of the Company. The English names of all the companies established in the PRC presented in these condensed consolidated financial statements represent the best efforts made by the directors of the Company for the translation of the Chinese names of these companies to English names as they do not have official English names. 2 BASIS OF PREPARATION The condensed consolidated financial statements of the Company and its subsidiaries (collectively as the “Group”) for the six months ended 30 June 2026 has been prepared in accordance with International Accounting Standards 34 (“IAS 34”) “Interim Financial Reporting” issued by the International Accounting Standards Board (the “IASB”) as well as with the applicable disclosure requirements of the Rules Governing the Listing of Securities on the SEHK. The condensed consolidated financial statements do not include all the information and disclosures required in the annual consolidated financial statements, and should be read in conjunction with the Group’s annual consolidated financial statements for the year ended 31 December 2025. The condensed consolidated financial statements have been prepared on a going concern basis notwithstanding the Group had net current liabilities of approximately RMB15,905,327 as at 30 June 2026. In the opinion of the directors of the Company, the Group should be able to maintain itself as a going concern in the next twelve months from 30 June 2026 by taking into consideration the followings: – The directors of the Company anticipate that the Group will generate positive cash flows from its operations; and – The undrawn borrowings facilities available for immediate use.
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128 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 2 BASIS OF PREPARATION – CONTINUED Based on the above, the directors of the Company consider that the Group will have sufficient working capital to meet its financial obligations as and when they fall due for the next twelve months from 30 June 2026. Accordingly, the directors of the Company are satisfied that it is appropriate to prepare these condensed consolidated financial statements on a going concern basis. The condensed consolidated financial statements do not include any adjustments relating to the carrying amounts and reclassification of assets and liabilities that might be necessary should the Group be unable to continue as a going concern. 3 ACCOUNTING POLICIES The condensed consolidated financial statements have been prepared on the historical cost basis except for investment properties and certain financial instruments, which are measured at revalued amounts or fair values, as appropriate. Other than change in accounting policies resulting from application of amendments to IFRS Accounting Standards, the accounting policies and methods of computation used in the condensed consolidated financial statements for the six months ended 30 June 2026 are the same as those presented in the Group’s annual consolidated financial statements for the year ended 31 December 2025. 3.1 Application of amendments to IFRS Accounting Standards In the current interim financial period, the Group has applied the following amendments to IFRS Accounting Standards as issued by the IASB, for the first time, which are mandatorily effective for the Group’s annual period beginning on 1 January 2026 for the preparation of the Group’s condensed consolidated financial statements: Amendments to IFRS 9 and IFRS 7 Amendments to the Classification and Measurement of Financial Instruments Amendments to IFRS 9 and IFRS 7 Contracts Referencing Nature-dependent Electricity Amendments to IFRS Accounting Standards Annual Improvements to IFRS Accounting Standards – Volume 11 The application of the amendments to IFRS Accounting Standards in the current interim financial period has had no material impact on the Group’s financial positions and performance for the current and prior periods and/or on the disclosures set out in these condensed consolidated financial statements. 3.2 Business combination under common control As Shandong Energy Group Xibei Mining Co., Ltd. (“Xibei Mining”), Yankuang Power Sales Co., Ltd. (“Power Sales”) and Shandong Energy Equipment Group High-End Support Manufacturing Co., Ltd. (“High-End Support”) were acquired during the year ended 31 December 2025, its financial position has already been included in the consolidated statement of financial position of the Group as at 31 December 2025 as previously reported.
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129 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 3 ACCOUNTING POLICIES – CONTINUED 3.2 Business combination under common control – continued (i) The effects of the restatements on the condensed consolidated statement of profit or loss for six months ended 30 June 2025: The Group (As previously reported) Xibei Mining Power sales High-End Support Adjustment The Group (Restated) RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Gross sales of coal 34,474,631 6,415,742 – – – 40,890,373 Smart logistic services income 5,144,311 – – – – 5,144,311 Gross sales of electricity and heat supply 1,554,400 – – – – 1,554,400 Gross sales of equipment manufacturing 569,393 350,090 – 155,748 (359,090) 716,141 Gross sales of chemical products 12,223,538 328,427 – – – 12,551,965 Total revenue 53,966,273 7,094,259 – 155,748 (359,090) 60,857,190 Transportation costs (2,352,709) – – – – (2,352,709) Cost of sales of coal (21,407,186) (4,533,037) – – – (25,940,223) Cost of smart logistic services provided (4,892,414) – – – – (4,892,414) Cost of electricity and heat supply (1,374,957) – – – – (1,374,957) Cost of equipment manufacturing (341,616) (357,657) – (154,656) 359,090 (494,839) Cost of chemical products (9,363,312) (278,220) – – – (9,641,532) Total cost of sales (39,732,194) (5,168,914) – (154,656) 359,090 (44,696,674) Gross profit 14,234,079 1,925,345 – 1,092 – 16,160,516 Selling, general and administrative expenses (6,472,129) (925,991) (18,871) (20,573) – (7,437,564) Share of results of associates 1,262,400 1,510 – – – 1,263,910 Share of results of joint ventures (68,699) – – – – (68,699) Other income and gains/losses, net 1,822,949 326,734 72,064 22,286 – 2,244,033 Finance costs (1,941,536) (242,599) – (349) – (2,184,484) Profit before tax 8,837,064 1,084,999 53,193 2,456 – 9,977,712 Income tax expense (1,715,264) (288,339) (4,504) (3,570) – (2,011,677) Profit for the period 7,121,800 796,660 48,689 (1,114) – 7,966,035 Attributable to: Equity shareholders of the Company 4,730,555 508,778 48,689 (1,114) (277,315) 5,009,593 Owners of perpetual capital securities 313,173 – – – – 313,173 Non-controlling interests 2,078,072 287,882 – – 277,315 2,643,269 7,121,800 796,660 48,689 (1,114) – 7,966,035
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130 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 3 ACCOUNTING POLICIES – CONTINUED 3.2 Business combination under common control – continued (ii) The effects of the restatements on the condensed consolidated statement of profit or loss and other comprehensive income for six months ended 30 June 2025: The Group (As previously reported) Xibei Mining Power sales High-End Support Adjustment The Group (Restated) RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Profit for the period 7,121,800 796,660 48,689 (1,114) – 7,966,035 Items that will not be reclassified subsequently to profit or loss: Fair value loss on investments in equity instruments designated as at FVOCI 256 670 – – – 926 Income tax relating to item that will not be reclassified subsequently to profit or loss (64) (68) – – – (132) 192 602 – – – 794 Items that may be reclassified subsequently to profit or loss: Share of other comprehensive expense of associates (175,142) – – – – (175,142) Exchange differences arising on translation of foreign operations 1,639,685 – – – – 1,639,685 1,464,543 – – – – 1,464,543 Other comprehensive income for the period, net of income tax 1,464,735 602 – – – 1,465,337 Total comprehensive income for the period 8,586,535 797,262 48,689 (1,114) – 9,431,372 Attributable to: Equity shareholder of the Company 5,576,116 509,092 48,689 (1,114) (277,469) 5,855,314 Owners of perpetual capital securities 313,173 – – – – 313,173 Non-controlling interests 2,697,246 288,170 – – 277,469 3,262,885 8,586,535 797,262 48,689 (1,114) – 9,431,372
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131 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 4 SEGMENT INFORMATION The Group is engaged primarily in the mining business and the smart logistics business. The Group does not currently have direct export rights in the PRC and all of its export sales is made through China National Coal Industry Import and Export Corporation (“National Coal Corporation”), Minmetals Trading Co., Ltd. (“Minmetals Trading”) and/or Shanxi Coal Imp. & Exp. Group Corp. (“Shanxi Coal Corporation”). The final customer destination of the Company’s export sales is determined by the Company, National Coal Corporation, Minmetals Trading and/or Shanxi Coal Corporation. The exploitation right of the Group’s foreign subsidiaries is not restricted. Certain of the Company’s subsidiaries and associates are engaged in manufacturing and trading of mining machinery and the transportation business via rivers and lakes and provision of financial services in the PRC. No separate segment information about these businesses is presented in these condensed consolidated financial statements as the underlying gross sales, results and assets of these businesses, which are included in the mining business segment, are insignificant to the Group. Upon the acquisition of Yankuang Donghua Heavy Industry Limited (“Donghua”) in 2016, the Group is also engaged in the manufacturing of comprehensive coal mining and excavating equipment. In addition, certain subsidiaries are engaged in production of methanol and other chemical products, and provision of heat and electricity, which is classified as “coal chemical, electricity and heat supply” business. For management purposes, the Group is organised into the following four operating divisions, which are also the basis on which the Group reports its segment information. Coal mining Underground and open-cut mining, preparation and sales of coal and potash mineral exploration Smart logistics Provision of transportation services Coal chemical, electricity and heat supply Provision of electricity and related heat supply services and production and sales of chemical products Equipment manufacturing Manufacturing of comprehensive coal mining and excavating equipment Segment results represent the results of each segment without allocation of corporate expenses, directors’ emoluments, share of results of associates and joint ventures, interest income, finance costs and income tax expense. This is the measure reported to the chief operating decision maker for the purposes of resources allocation and assessment of segment performance. Inter-segment revenue is charged at prices pre-determined by the relevant government authority. Unallocated corporate income for the six months ended 30 June 2026 and 2025 mainly included gain on sales of auxiliary materials and sundry items and other corporate income.
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132 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 4 SEGMENT INFORMATION – CONTINUED Segment revenues and results The following is an analysis of the Group’s revenue and results by reportable segment: Six months ended 30 June 2026 Coal mining Smart logistics Coal chemical, electricity and heat supply Equipment manufacturing Eliminations Consolidated RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Segment revenue External 46,414,125 7,632,421 15,178,484 1,006,055 – 70,231,085 Inter-segment 7,624,349 662,081 4,973,986 421,337 (13,681,753) – Total 54,038,474 8,294,502 20,152,470 1,427,392 (13,681,753) 70,231,085 Results Segment results 13,518,727 210,621 3,202,085 283,193 17,214,626 Unallocated corporate expenses (8,293,578) Unallocated corporate income 4,183,923 Interest income 859,831 Share of results of associates 1,959,769 Share of results of joint ventures (359,974) Finance costs (2,039,818) Profit before tax 13,524,779 Income tax expense (2,479,487) Profit for the period 11,045,292
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133 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 4 SEGMENT INFORMATION – CONTINUED Segment revenues and results – Continued Six months ended 30 June 2025 Coal mining Smart logistics Coal chemical, electricity and heat supply Equipment manufacturing Eliminations Consolidated RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 (Restated) (Restated) (Restated) (Restated) (Restated) (Restated) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Segment revenue External 40,890,373 5,144,311 14,106,365 716,141 – 60,857,190 Inter-segment 6,447,454 542,690 4,302,605 568,862 (11,861,611) – Total 47,337,827 5,687,001 18,408,970 1,285,003 (11,861,611) 60,857,190 Results Segment results 12,054,662 248,822 2,868,332 219,885 15,391,701 Unallocated corporate expenses (8,443,692) Unallocated corporate income 3,611,520 Interest income 407,456 Share of results of associates 1,263,910 Share of results of joint ventures (68,699) Finance costs (2,184,484) Profit before tax 9,977,712 Income tax expense (2,011,677) Profit for the period 7,966,035
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134 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 5 FINANCE COSTS Six months ended 30 June 2026 2025 RMB’000 RMB’000 (Restated) (Unaudited) (Unaudited) Interest on bank and other borrowings 2,087,040 2,219,776 Interest on lease liabilities 42,887 24,323 2,129,927 2,244,099 Less: Amounts capitalised on construction in progress (90,109) (59,615) 2,039,818 2,184,484 6 INCOME TAX EXPENSE Six months ended 30 June 2026 2025 RMB’000 RMB’000 (Restated) (Unaudited) (Unaudited) Current tax charge The PRC 1,877,610 1,637,298 Other jurisdictions 439,989 573,667 Deferred tax charge/(credit) The PRC 552,080 23,257 Other jurisdictions (390,192) (222,545) 2,479,487 2,011,677 Under the Law of the PRC on Enterprise Income Tax (the “EIT Law”) and Implementation Regulation of the EIT Law, the tax rate of the Company and its subsidiaries in the PRC is 25% for both periods, except for certain subsidiaries that are entitled to a preferential tax rate of 15% (six months ended 30 June 2025: 15%). Taxation arising in other jurisdictions is calculated at the rates prevailing in the relevant jurisdictions. The Group is operating in certain jurisdictions where the Global Anti-Base Erosion Model Rules (“Pillar Two rules”) are effective. However, as the Group’s estimated effective tax rates of all the jurisdictions in which the Group operates are higher than 15%, after taking into account the adjustments under the Pillar Two Rules based on management’s best estimate, the management of the Group considered the Group is not liable to top-up tax under the Pillar Two Rules.
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135 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 7 PROFIT BEFORE TAX Profit before tax has been arrived at after charging/(crediting): Six months ended 30 June 2026 2025 RMB’000 RMB’000 (Restated) (Unaudited) (Unaudited) Amortisation of intangible assets 1,345,257 1,039,892 Depreciation of property, plant and equipment 6,280,687 6,376,490 Depreciation of right-of-use assets 199,064 196,522 Gain on disposal of property, plant and equipment, net (19,606) (42,889) Gain on bargain purchase – (9,926) Loss on deemed disposal from a subsidiary to an associate – 53,380 Impairment loss recognised on inventories, net 92,510 70,287 Impairment loss (reversed)/recognised on bills and accounts receivables and other receivables, net (38,013) 34,958 Exchange loss, net 130,522 202,198 8 DIVIDEND Six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) 2025 final dividend, RMB0.32 per share (2025: 2024 final dividend, RMB0.54 per share) 3,211,164 5,420,239 Pursuant to the annual general meeting held on 26 June 2026, a final dividend of RMB0.32 per share (tax inclusive) in respect of the year ended 31 December 2025 was approved. The Board of Directors declares an interim dividend of RMB2.0 per 10 ordinary shares (six months ended 30 June 2025: RMB1.8 per 10 ordinary shares) for the six months ended 30 June 2026 on 28 August 2026.
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136 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 9 EARNINGS PER SHARE The calculation of the basic earnings per share is based on the profit attributable to equity shareholders of the Company for the six months ended 30 June 2026 of approximately RMB7,874,971,000 (six months ended 30 June 2025 (Restated): RMB5,009,593,000) and on the weighted average of approximately 10,037,032,000 (six months ended 30 June 2025: 10,039,032,000) shares in issue during the six months ended 30 June 2026. The calculation of the diluted earnings per share for the period ended 30 June 2026 and 2025 are based on the profit for the period attributable to equity shareholders of the Company with an adjustment on effect of dilutive share incentive scheme of a non-wholly owned listed subsidiary. For the period ended 30 June 2025, the number of ordinary shares used in the calculation of diluted earnings per share is the weighted average number of ordinary shares in issue during the period as used in the basic earnings per share calculation and adjusted for the effect of potential ordinary shares from the Company’s share options. The calculation of basic and diluted earnings per share are based on the following data: Six months ended 30 June Earnings 2026 2025 (Restated) RMB’000 RMB’000 Profit for the period attributable to equity shareholders of the Company used in the basic earnings per share calculation 7,874,971 5,009,593 Adjustment to the share of profit of a subsidiary based on dilution of their earnings (54) (1,216) Earnings for the purpose of diluted earnings per share 7,874,917 5,008,377
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137 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 10 PROPERTY, PLANT AND EQUIPMENT During the six months ended 30 June 2026, the Group acquired items of property, plant and equipment with a cost of approximately RMB1,998,972,000 (six months ended 30 June 2025: (Restated) RMB5,690,025,000) and no property, plant and equipment from business combinations acquired (six months ended 30 June 2025: RMB73,124,000). Items of property, plant and equipment with a net book value of approximately RMB86,357,000 were disposed of during the six months ended 30 June 2026 (six months ended 30 June 2025: (Restated) RMB280,638,000), resulting in gain on disposals of approximately RMB19,606,000 (six months ended 30 June 2025: (Restated) gain on disposals RMB42,889,000). 11 LEASES (i) Right-of-use assets As at 30 June 2026, the carrying amounts of right-of-use assets were approximately RMB108,714,000, RMB6,893,533,000 and RMB402,947,000 (31 December 2025: (Restated) RMB119,417,000, RMB6,652,405,000 and RMB507,546,000) in respect of the properties leased under operating leases, land use right and plant, machinery and equipment under finance leases respectively. During the six months ended 30 June 2026, the Group entered into a number of lease agreements for the properties leased under operating leases, land use right and plant, machinery and equipment under finance leases and on lease commencement, the Group recognised right-of-use assets of approximately RMB353,645,000 (six months ended 30 June 2025: RMB263,271,000). (ii) Lease liabilities As at 30 June 2026, the carrying amount of lease liabilities was approximately RMB225,298,000 (31 December 2025: RMB667,625,000). During the six months ended 30 June 2026, the Group entered into a number of new lease agreements and recognised lease liabilities of approximately RMB5,871,000 (six months ended 30 June 2025: RMB263,271,000). (iii) Amounts recognised in profit or loss Six months ended 30 June 2026 2025 RMB’000 RMB’000 (Restated) (Unaudited) (Unaudited) Depreciation expense on right-of-use assets 199,064 196,522 Interest on lease liabilities 42,887 24,323 (iv) Total cash outflow for leases During the six months ended 30 June 2026, the total cash outflow for leases amount to approximately RMB131,515,000 (six months ended 30 June 2025 (Restated): RMB418,963,000).
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138 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 12 CONTINGENT CONSIDERATION RECEIVABLES At 30 June At 31 December 2026 2025 RMB’000 RMB’000 (Unaudited) (Audited) Acquisition of subsidiaries 6,805 6,805 The balance represents the aggregate sum of contingent consideration receivable in relation to the acquisition of Wubo Technology Co., Ltd* (ʮ̡) as cash and specific compensation, if there are any shortfalls between the actual results and the profit guarantee pursuant to the sale and purchase agreement. * The official name of the entity is in Chinese. The English name is for identification purpose only. 13 BILLS AND ACCOUNTS RECEIVABLES At 30 June At 31 December 2026 2025 RMB’000 RMB’000 (Unaudited) (Audited) Accounts receivables (at amortised cost) 11,463,191 9,630,317 Less: impairment loss on accounts receivables (1,001,464) (1,017,849) 10,461,727 8,612,468 Bills receivables (at FVTOCI) 3,914,143 3,742,939 Less: impairment loss on bills receivables (189) (150) 3,913,954 3,742,789 14,375,681 12,355,257 As at 1 January 2025, accounts receivables from contracts with customers amounted to RMB9,575,687,000. Bills receivables represent unconditional orders in writing issued by or negotiated from customers of the Group for completed sale orders which entitle the Group to collect a sum of money from banks or other parties. The bills are non-interest bearing and have an average maturity of six months. Considering the bills receivables are held by the Group for both collection of contractual cash flows and selling of the related financial assets (via the endorsement of bills receivables to suppliers as the Group’s settlement of related payable balances), the Group has designated bills receivables as financial assets of FVTOCI. According to the credit rating of different customers, the Group allows a range of credit periods to its trade customers not exceeding 180 days.
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139 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 13 BILLS AND ACCOUNTS RECEIVABLES – CONTINUED The following is an aged analysis of bills and accounts receivables, net of allowance for impairment, presented based on the invoice dates, which approximates the respective revenue recognition dates, at the end of the reporting period: At 30 June At 31 December 2026 2025 RMB’000 RMB’000 (Unaudited) (Audited) 0 – 90 days 10,054,767 7,366,327 91 – 180 days 1,576,837 2,690,591 181 – 365 days 1,279,094 1,165,074 Over 1 year 1,464,983 1,133,265 14,375,681 12,355,257 An analysis of the impairment loss on bills and accounts receivables for the period/year ended 30 June 2026 and 31 December 2025 are as follows: At 30 June At 31 December 2026 2025 RMB’000 RMB’000 (Unaudited) (Audited) At the beginning of the period/year 1,017,999 972,594 (Reversal of)/provision for impairment losses (2,738) 76,503 Written-off (13,253) (6,396) Others (355) (24,702) At the end of the period/year 1,001,653 1,017,999 Before accepting any new customer, the Group assesses the potential customer’s credit quality and defines credit limits by customer. Limits attributed to customers are reviewed once a year. The Group measures the loss allowance for bills and accounts receivables at an amount equal to lifetime ECL. As part of the Group’s credit risk management, the Group uses debtors’ ageing to assess the impairment on a collective basis for part of its customers which consist of large number of small customers with common risk characteristics that are representative of the customers’ abilities to pay all amounts due in accordance with the contractual terms. Included in bills and accounts receivables as at 30 June 2026 are balances of approximately RMB575,032,000 (31 December 2025: RMB1,128,281,000, that have been pledged to secure borrowings and banking facilities granted to the Group.
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140 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 14 PREPAYMENTS AND OTHER RECEIVABLES At 30 June At 31 December 2026 2025 RMB’000 RMB’000 (Unaudited) (Audited) Advance to suppliers 8,148,212 7,364,746 Less: impairment loss on advance to suppliers (Note (i)) (4,729) (45,739) 8,143,483 7,319,007 Prepaid relocation costs of inhabitants 22,295,777 19,843,698 Other taxes 1,850,148 2,156,168 Dividend receivables 2,346 65,334 Loan receivables (Note (ii)) 13,013,383 11,578,445 Other receivables 8,760,235 8,035,273 Less: impairment loss on other receivables (Note (iii)) (1,649,096) (1,932,021) 52,416,276 47,065,904 Notes: (i) An analysis of the impairment loss on advance to suppliers for the period/year ended 30 June 2026 and 31 December 2025 are as follows: At 30 June At 31 December 2026 2025 RMB’000 RMB’000 (Unaudited) (Audited) At the beginning of the period/year 45,739 16,381 Impairment loss (reversed)/recognised (41,010) 29,358 At the end of the period/year 4,729 45,739 Advances will be written off, if aged over 4 years and considered irrecoverable by the management after considering the credit quality of the individual party and the nature of the amount.
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141 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 14 PREPAYMENTS AND OTHER RECEIVABLES – CONTINUED Notes: – Continued (ii) The loan receivables carried interest ranging from 2.11% to 2.80% (31 December 2025: 2.11% to 3.30%) per annum and are repayable within 12 months from the end of the reporting period. (iii) Movement in the impairment loss on other receivables for the period/year ended 30 June 2026 and 31 December 2025 are as follows: At 30 June At 31 December 2026 2025 RMB’000 RMB’000 (Unaudited) (Audited) At the beginning of the period/year 1,932,021 1,755,450 Impairment loss recognised, net 5,735 486,260 Written-offs (288,660) (309,689) At the end of the period/year 1,649,096 1,932,021 15 RESTRICTED CASH, PLEDGED TERM DEPOSITS AND BANK BALANCES AND CASH As at the reporting date, the restricted cash mainly represents the bank acceptance bill deposits paid for safety work as required by the State Administrative of work safety. Pledged term deposits were pledged to certain banks as security for loans and banking facilities granted to the Group. The pledged term deposits will be released upon the settlement of relevant bank borrowings. 16 BILLS AND ACCOUNTS PAYABLES At 30 June At 31 December 2026 2025 RMB’000 RMB’000 (Unaudited) (Audited) Accounts payables 18,524,599 23,002,970 Bills payables 14,831,407 11,946,745 33,356,006 34,949,715
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142 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 16 BILLS AND ACCOUNTS PAYABLES – CONTINUED The following is an aged analysis of bills and accounts payables presented based on the invoice dates at the reporting date: At 30 June At 31 December 2026 2025 RMB’000 RMB’000 (Unaudited) (Audited) 0 – 90 days 16,792,731 19,859,961 91 – 180 days 7,324,299 9,437,832 181 – 365 days 4,326,839 1,792,647 Over 1 year 4,912,137 3,859,275 33,356,006 34,949,715 The average credit period for bills and accounts payables is 90 days. The Group has financial risk management policies in place to ensure that all payables are within the credit timeframe. 17 PROVISION FOR LAND SUBSIDENCE, RESTORATION, REHABILITATION AND ENVIRONMENTAL COSTS At 30 June At 31 December 2026 2025 RMB’000 RMB’000 (Unaudited) (Audited) At the beginning of the period/year 14,241,755 13,284,198 Additional provision in the period/year 912,489 1,183,702 Utilisation of provision (772,424) (514,066) Exchange adjustments (13,383) 287,921 At the end of the period/year 14,368,437 14,241,755 Analysed as: Current liabilities 367,187 812,479 Non-current liabilities 14,001,250 13,429,276 14,368,437 14,241,755 Provision for land subsidence, restoration, rehabilitation and environmental costs has been determined by the management of the Group based on their best estimates. However, in so far as the effect on the land and the environment from current mining activities becomes apparent in future periods, the estimate of the associated costs may be subject to change in the near term.
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143 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 18 BORROWINGS At 30 June At 31 December 2026 2025 RMB’000 RMB’000 (Unaudited) (Audited) Current liabilities Bank borrowings – Unsecured borrowings (Note (i)) 42,898,961 41,937,159 – Secured borrowings (Note (ii)) 2,985,255 2,392,152 Corporate bonds (Note (iii)) 5,352,229 6,422,622 51,236,445 50,751,933 Non-current liabilities Bank borrowings – Unsecured borrowings (Note (i)) 45,815,889 47,060,644 – Secured borrowing (Note (ii)) 7,027,002 10,033,923 Corporate bonds (Note (iii)) 23,967,415 22,964,152 Other secured borrowings 401,154 501,056 77,211,460 80,559,775 128,447,905 131,311,708 Notes: (i) Unsecured borrowings are detailed as follows: At 30 June At 31 December 2026 2025 RMB’000 RMB’000 (Unaudited) (Audited) Within one year 42,898,961 41,937,159 After one year but within two years 18,626,555 7,073,241 After two years but within five years 24,639,109 36,476,261 More than five years 2,550,225 3,511,142 88,714,850 88,997,803
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144 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 18 BORROWINGS – CONTINUED Notes: – Continued (ii) Secured borrowings are detailed as follows: At 30 June At 31 December 2026 2025 RMB’000 RMB’000 (Unaudited) (Audited) Within one year 2,985,255 2,392,152 After one year but within two years 1,058,084 1,991,257 After two years but within five years 2,600,817 1,281,612 More than five years 3,368,101 6,761,054 10,012,257 12,426,075 (iii) Corporate bonds denominated in RMB are detailed as follows: At 30 June At 31 December 2026 2025 RMB’000 RMB’000 (Unaudited) (Audited) Within one year 5,352,229 6,422,622 After one year but within two years 5,998,600 4,998,504 After two years but within five years 10,984,315 10,981,847 More than five years 6,984,500 6,983,801 29,319,644 29,386,774
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145 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 19 SHAREHOLDERS’ EQUITY (a) Share capital The Company’s share capital structure at the reporting date is as follows: Domestic invested shares A shares Foreign invested shares H shares Total Number of shares At 1 January 2025 (Audited) 5,964,360,402 4,075,500,000 10,039,860,402 Repurchase and cancellation of shares (Note (i)) (2,379,858) – (2,379,858) At 31 December 2025 and 1 January 2026 (Audited) 5,961,980,544 4,075,500,000 10,037,480,544 Repurchase and cancellation of shares (Note (ii)) (628,524) – (628,524) At 30 June 2026 (Unaudited) 5,961,352,020 4,075,500,000 10,036,852,020 Domestic invested shares A shares Foreign invested shares H shares Total RMB’000 RMB’000 RMB’000 Registered, issued and fully paid At 1 January 2025 (Audited) 5,964,360 4,075,500 10,039,860 Repurchase and cancellation of shares (Note (i)) (2,379) – (2,379) At 31 December 2025 and 1 January 2026 (Audited) 5,961,981 4,075,500 10,037,481 Repurchase and cancellation of shares (Note (ii)) (629) – (629) At 30 June 2026 (Unaudited) 5,961,352 4,075,500 10,036,852 Each share has a par value of RMB1.
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146 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 19 SHAREHOLDERS’ EQUITY – CONTINUED (a) Share capital – Continued Notes: (i) On 29 April 2025, 2,379,858 A share were repurchased and cancelled accordingly to forfeiture under Restricted share incentive scheme. The scheme were repurchased at prices of RMB1.4033 per share. (ii) On 14 May 2026, 628,524 A share were repurchased and cancelled accordingly to forfeiture under Restricted share incentive scheme. The scheme were repurchased at prices of RMB1.4033 per share. (b) Treasury shares Number of shares RMB’000 As at 1 January 2025, 31 December 2025 and 1 January 2026 (Audited) – – Share repurchased 1,965,200 50,930 As at 30 June 2026 (Unaudited) 1,965,200 50,930 The repurchases was governed by Chapter 10 of the Listing Rules. There was no repurchase of shares during the year ended 31 December 2025. During the six months ended 30 June 2026, the Company repurchased its own A shares through SSE as follows: Month/year Numbers of Shares repurchased Highest price paid per A shares Lowest price paid per A shares Aggregate consideration paid RMB RMB RMB June 2026 1,965,200 25.99 25.71 50,930
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147 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 19 SHAREHOLDERS’ EQUITY – CONTINUED (c) Reserves (i) Future Development Fund Pursuant to regulation in the PRC, the Company, Shanxi Heshun Tianchi Energy Company Limited (“Shanxi Tianchi”) and Heze are required to transfer an annual amount to a future development fund at RMB6 per tonne of raw coal mined (Xintai, Ordos, Shaanxi Future Energy and Inner Mongolia Mining: RMB10.5 per tonne of raw coal mined). The fund can only be used for the future development of the coal mining business and is not available for distribution to shareholders. From 2008 onwards, Shanxi Tianchi is required to transfer an additional amount at RMB5 per tonne of raw coal mined as coal mine transformation fund. Pursuant to the Shanxi Provincial Government’s decision, coal mine transformation fund was suspended since 1 August 2013. Pursuant to the regulations of the Shandong Province Finance Bureau, State-owned Assets Supervision and Administration Commission of Shandong Province and the Shandong Province Coal Mining Industrial Bureau, the Company is required to transfer an additional amount at RMB5 per tonne of raw coal mined from 1 July 2004 to the reform specific development fund for the future improvement of the mining facilities and is not distributable to shareholders. No further transfer to the reform specific development fund is required from 1 January 2008. In accordance with the regulations of the State Administration of Work Safety, the Company has a commitment to incur RMB15 per tonne of raw coal mined from 1 February 2012 onwards (Shanxi Tianch RMB30 per tonne of raw coal mined from 1 October 2013 onwards, Xintai and Ordos RMB15 per tonne of raw coal mined from 1 February 2012 onwards, Shaanxi Future Energy and Inner Mongolia Mining RMB15 per tonne of raw coal mined) for each tonne of raw coal mined which will be used for enhancement of safety production environment and improvement of facilities (“Work Safety Cost”). In prior years, the work safety expenditures are recognised only when acquiring the assets or incurring other work safety expenditures. The Company, Heze, Shanxi Tianchi, Xintai and Ordos make appropriation to the future development fund in respect of unutilised Work Safety Cost from 2008 onwards. In accordance with the regulations of the State Administration of Work Safety, the Company’s subsidiaries, Hua Ju Energy, Shanxi Tianhao and Yulin, have a commitment to incur Work Safety Cost at the rate of: 4% of the actual sales income for the year below RMB10 million; 2% of the actual sales income for the year between RMB10 million and RMB100 million (included); 0.5% of the actual sales income for the year between RMB100 million and RMB1 billion (included); 0.2% of the actual sales income for the year above RMB1 billion.
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148 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 19 SHAREHOLDERS’ EQUITY – CONTINUED (c) Reserves – Continued (ii) Statutory Common Reserve Fund The Company has to set aside 10% of its profit for the statutory common reserve fund (except where the fund has reached 50% of its registered capital). The statutory common reserve fund can be used for the following purposes: – to make good losses of the previous years; or – to convert into capital, provided such conversion is approved by a resolution at a shareholders’ general meeting and the balance of the statutory common reserve fund does not fall below 25% of the registered capital. (iii) Distributable Reserve In accordance with the Company’s Articles of Association, the profit for the purpose of appropriation will be deemed to be the lesser of the amounts determined in accordance with (i) the PRC accounting standards and regulations and (ii) the IFRS Accounting Standards or the accounting standards of the places in which its shares are listed. As at 30 June 2026, the distributable reserve of the Company is approximately RMB3,658,154,000 (31 December 2025: RMB6,794,044,000).
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149 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 20 PERPETUAL CAPITAL SECURITIES From the Company From its subsidiary Total RMB’000 RMB’000 RMB’000 At 1 January 2025 (Audited) 23,267,221 – 23,267,221 Issuance of perpetual capital security 15,000,000 1,000,000 16,000,000 Redemption of perpetual capital security (9,489,900) – (9,489,900) Dividend to holders of perpetual capital security 627,530 1,188 628,718 Distribution paid to holders of perpetual capital security (638,201) – (638,201) At 31 December 2025 and 1 January 2026 (Audited) 28,766,650 1,001,188 29,767,838 Issuance of perpetual capital security 2,000,000 – 2,000,000 Dividend to holders of perpetual capital security 323,601 10,688 334,289 Distribution paid to holders of perpetual capital security (290,950) – (290,950) At 30 June 2026 (Unaudited) 30,799,301 1,011,876 31,811,177 Notes: (i) The Company issued 3.71% perpetual capital securities with par value RMB500,000,000 on 18 May 2022. Coupon payments of 3.71% per annum on the perpetual capital securities are paid once a year. These perpetual capital securities have no fixed maturity and are redeemable at the discretion of the Group at their principal amounts together with any accrued, unpaid or deferred coupon interest payments. In addition, while any coupon payments are unpaid or deferred, the Company undertakes not to declare, pay any dividends nor to make any distributions or similar periodic payments in respect of, or repurchase, redeem or otherwise acquire any securities of lower or equal rank. Since the perpetual capital security does not include any payment of cash or other contractual obligation of financial instrument, it is categorised as equity. (ii) The Company issued 2.85% perpetual capital securities with par value RMB3,000,000,000 on 31 January 2024. Coupon payments of 2.85% per annum on the perpetual capital securities are paid once a year. These perpetual capital securities have no fixed maturity and are redeemable at the discretion of the Group at their principal amounts together with any accrued, unpaid or deferred coupon interest payments. In addition, while any coupon payments are unpaid or deferred, the Company undertakes not to declare, pay any dividends nor to make any distributions or similar periodic payments in respect of, or repurchase, redeem or otherwise acquire any securities of lower or equal rank. Since the perpetual capital security does not include any payment of cash or other contractual obligation of financial instrument, it is categorised as equity.
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150 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 20 PERPETUAL CAPITAL SECURITIES – CONTINUED Notes: – Continued (iii) The Company issued 2.28% perpetual capital securities with par value RMB3,000,000,000 on 17 June 2024. Coupon payments of 2.28% per annum on the perpetual capital securities are paid once a year. These perpetual capital securities have no fixed maturity and are redeemable at the discretion of the Group at their principal amounts together with any accrued, unpaid or deferred coupon interest payments. In addition, while any coupon payments are unpaid or deferred, the Company undertakes not to declare, pay any dividends nor to make any distributions or similar periodic payments in respect of, or repurchase, redeem or otherwise acquire any securities of lower or equal rank. Since the perpetual capital security does not include any payment of cash or other contractual obligation of financial instrument, it is categorised as equity. (iv) The Company issued 2.17% perpetual capital securities with par value RMB2,000,000,000 on 24 July 2024. Coupon payments of 2.17% per annum on the perpetual capital securities are paid once a year. These perpetual capital securities have no fixed maturity and are redeemable at the discretion of the Group at their principal amounts together with any accrued, unpaid or deferred coupon interest payments. In addition, while any coupon payments are unpaid or deferred, the Company undertakes not to declare, pay any dividends nor to make any distributions or similar periodic payments in respect of, or repurchase, redeem or otherwise acquire any securities of lower or equal rank. Since the perpetual capital security does not include any payment of cash or other contractual obligation of financial instrument, it is categorised as equity. (v) The Company issued 2.43% perpetual capital securities with par value RMB1,500,000,000 on 28 October 2024. Coupon payments of 2.43% per annum on the perpetual capital securities are paid once a year. These perpetual capital securities have no fixed maturity and are redeemable at the discretion of the Group at their principal amounts together with any accrued, unpaid or deferred coupon interest payments. In addition, while any coupon payments are unpaid or deferred, the Company undertakes not to declare, pay any dividends nor to make any distributions or similar periodic payments in respect of, or repurchase, redeem or otherwise acquire any securities of lower or equal rank. Since the perpetual capital security does not include any payment of cash or other contractual obligation of financial instrument, it is categorised as equity. (vi) The Company issued 2.26% perpetual capital securities with par value RMB1,500,000,000 on 20 November 2024. Coupon payments of 2.26% per annum on the perpetual capital securities are paid once a year. These perpetual capital securities have no fixed maturity and are redeemable at the discretion of the Group at their principal amounts together with any accrued, unpaid or deferred coupon interest payments. In addition, while any coupon payments are unpaid or deferred, the Company undertakes not to declare, pay any dividends nor to make any distributions or similar periodic payments in respect of, or repurchase, redeem or otherwise acquire any securities of lower or equal rank. Since the perpetual capital security does not include any payment of cash or other contractual obligation of financial instrument, it is categorised as equity. (vii) The Company issued 2.06% perpetual capital securities with par value RMB2,000,000,000 on 9 December 2024. Coupon payments of 2.06% per annum on the perpetual capital securities are paid once a year. These perpetual capital securities have no fixed maturity and are redeemable at the discretion of the Group at their principal amounts together with any accrued, unpaid or deferred coupon interest payments. In addition, while any coupon payments are unpaid or deferred, the Company undertakes not to declare, pay any dividends nor to make any distributions or similar periodic payments in respect of, or repurchase, redeem or otherwise acquire any securities of lower or equal rank. Since the perpetual capital security does not include any payment of cash or other contractual obligation of financial instrument, it is categorised as equity. (viii) The Company issued 1.86% perpetual capital securities with par value RMB3,000,000,000 on 23 June 2025. Coupon payments of 1.86% per annum on the perpetual capital securities are paid once a year. These perpetual capital securities have no fixed maturity and are redeemable at the discretion of the Group at their principal amounts together with any accrued, unpaid or deferred coupon interest payments. In addition, while any coupon payments are unpaid or deferred, the Company undertakes not to declare, pay any dividends nor to make any distributions or similar periodic payments in respect of, or repurchase, redeem or otherwise acquire any securities of lower or equal rank. Since the perpetual capital security does not include any payment of cash or other contractual obligation of financial instrument, it is categorised as equity. (ix) The Company issued 2.15% perpetual capital securities with par value RMB3,000,000,000 on 20 October 2025. Coupon payments of 2.15% per annum on the perpetual capital securities are paid once a year. These perpetual capital securities have no fixed maturity and are redeemable at the discretion of the Group at their principal amounts together with any accrued, unpaid or deferred coupon interest payments. In addition, while any coupon payments are unpaid or deferred, the Company undertakes not to declare, pay any dividends nor to make any distributions or similar periodic payments in respect of, or repurchase, redeem or otherwise acquire any securities of lower or equal rank. Since the perpetual capital security does not include any payment of cash or other contractual obligation of financial instrument, it is categorised as equity.
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151 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 20 PERPETUAL CAPITAL SECURITIES – CONTINUED Notes: – Continued (x) The Company issued 2.09% perpetual capital securities with par value RMB3,000,000,000 on 28 April 2025. Coupon payments of 2.09% per annum on the perpetual capital securities are paid once a year. These perpetual capital securities have no fixed maturity and are redeemable at the discretion of the Group at their principal amounts together with any accrued, unpaid or deferred coupon interest payments. In addition, while any coupon payments are unpaid or deferred, the Company undertakes not to declare, pay any dividends nor to make any distributions or similar periodic payments in respect of, or repurchase, redeem or otherwise acquire any securities of lower or equal rank. Since the perpetual capital security does not include any payment of cash or other contractual obligation of financial instrument, it is categorised as equity. (xi) The Company issued 1.96% perpetual capital securities with par value RMB3,000,000,000 on 27 October 2025. Coupon payments of 1.96% per annum on the perpetual capital securities are paid once a year. These perpetual capital securities have no fixed maturity and are redeemable at the discretion of the Group at their principal amounts together with any accrued, unpaid or deferred coupon interest payments. In addition, while any coupon payments are unpaid or deferred, the Company undertakes not to declare, pay any dividends nor to make any distributions or similar periodic payments in respect of, or repurchase, redeem or otherwise acquire any securities of lower or equal rank. Since the perpetual capital security does not include any payment of cash or other contractual obligation of financial instrument, it is categorised as equity. (xii) The Company issued 2.06% perpetual capital securities with par value RMB3,000,000,000 on 12 November 2025. Coupon payments of 2.06% per annum on the perpetual capital securities are paid once a year. These perpetual capital securities have no fixed maturity and are redeemable at the discretion of the Group at their principal amounts together with any accrued, unpaid or deferred coupon interest payments. In addition, while any coupon payments are unpaid or deferred, the Company undertakes not to declare, pay any dividends nor to make any distributions or similar periodic payments in respect of, or repurchase, redeem or otherwise acquire any securities of lower or equal rank. Since the perpetual capital security does not include any payment of cash or other contractual obligation of financial instrument, it is categorised as equity. (xiii) One of the Company’s subsidiary issued 2.25% perpetual capital securities with par value RMB1,000,000,000 on 12 December 2025. Coupon payments of 2.25% per annum on the perpetual capital securities are paid once a year. These perpetual capital securities have no fixed maturity and are redeemable at the discretion of the Group at their principal amounts together with any accrued, unpaid or deferred coupon interest payments. In addition, while any coupon payments are unpaid or deferred, the subsidiary undertakes not to declare, pay any dividends nor to make any distributions or similar periodic payments in respect of, or repurchase, redeem or otherwise acquire any securities of lower or equal rank. Since the perpetual capital security does not include any payment of cash or other contractual obligation of financial instrument, it is categorised as equity. (xiv) The Company issued 1.84% perpetual capital securities with par value RMB2,000,000,000 on 28 April 2026. Coupon payments of 1.84% per annum on the perpetual capital securities are paid once a year. These perpetual capital securities have no fixed maturity and are redeemable at the discretion of the Group at their principal amounts together with any accrued, unpaid or deferred coupon interest payments. In addition, while any coupon payments are unpaid or deferred, the Company undertakes not to declare, pay any dividends nor to make any distributions or similar periodic payments in respect of, or repurchase, redeem or otherwise acquire any securities of lower or equal rank. Since the perpetual capital security does not include any payment of cash or other contractual obligation of financial instrument, it is categorised as equity. 21 FAIR VALUES The following table gives information (particularly, the valuation techniques and inputs used) about how the fair values of these financial assets and financial liabilities are determined, as well as the level of the fair value hierarchy into which the fair value measurements are categorised (Levels 1 to 3) based on the degree to which the inputs to the fair value measurements are observable. • Level 1 fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date;
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152 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 21 FAIR VALUES – CONTINUED • Level 2 fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and • Level 3 fair value measurements are those derived from valuation techniques that include the lowest level inputs for the asset or liability that are not based on observable market data (unobservable inputs). The fair value of listed equity investment is determined with reference to quoted market price. The fair values of the interest rate swap are estimated based on the discounted cash flows between the contract forward rate and spot forward rate. The fair value of financial assets and financial liabilities are determined in accordance with generally accepted pricing models. The directors of the Company consider that the carrying amounts of financial assets and financial liabilities recorded at amortised cost in the condensed consolidated financial statements approximate their fair values. The following table presents the carrying value of financial instruments measured at fair value across the three levels of the fair value hierarchy: Fair value as at 30 June 2026 Level 1 Level 2 Level 3 Total RMB’000 RMB’000 RMB’000 RMB’000 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Assets Financial assets at FVTPL: – Unlisted equity investments – – 560,588 560,588 – Contingent consideration receivable – – 6,805 6,805 – Royalty receivables – – 815,607 815,607 – Listed equity investments 513 – – 513 Financial assets at FVTOCI: – Investments in securities listed on the SSE 363 – – 363 – Unlisted equity securities – – 689,948 689,948 – Bills receivables – 3,913,954 – 3,913,954 876 3,913,954 2,072,948 5,987,778 Liabilities Financial liabilities at FVTPL: – Derivative financial instruments – 344,257 – 344,257
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153 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 21 FAIR VALUES – CONTINUED Fair value as at 31 December 2025 Level 1 Level 2 Level 3 Total RMB’000 RMB’000 RMB’000 RMB’000 (Audited) (Audited) (Audited) (Audited) Assets Financial assets at FVTPL: – Unlisted equity investments – – 563,777 563,777 – Contingent consideration receivable – – 6,805 6,805 – Royalty receivables – – 902,906 902,906 – Listed equity investments 668 – – 668 Financial assets at FVTOCI: – Investments in securities listed on the SSE 480 – – 480 – Unlisted equity securities – – 697,832 697,832 – Bills receivables – 3,742,789 – 3,742,789 1,148 3,742,789 2,171,320 5,915,257 Liabilities Financial liabilities at FVTPL: – Contingent royalty – 360,192 – 360,192 During the six months ended 30 June 2026 and the year ended 31 December 2025, there are no transfers between level 1 and level 2, or transfers into or out level 3. The fair value of the royalty receivables is determined using the discounted future cash flows that are dependent on the following unobservable inputs: forecast sales volumes, coal prices and fluctuations in foreign exchange rates. The forecast sales volumes are based on the internally maintained budgets, five-year business plan and life of mine models. The forecast coal prices and long-term exchange rates are based on external data consistent with the data used for impairment assessments. The risk-adjusted post-tax discount rate used to determine the future cash flows is 7% (31 December 2025: 7%). The estimated fair value would increase if the sales volumes and coal prices were higher and if the AUD weakens against the USD. The estimated fair value would also increase if the risk adjusted discount rate was lower.
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154 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 22 RELATED PARTY BALANCES AND TRANSACTIONS Transactions between the Company and its subsidiaries, which are related parties of the Company, have been eliminated on consolidation and are not disclosed. Related party transactions, that are also continuing connected transactions under Main Board Listing Rules Chapter 14A, continuing connected transactions are disclosed below: (a) Balances and transactions with related parties At 30 June At 31 December 2026 2025 RMB’000 RMB’000 (Unaudited) (Audited) Nature of balances (other than those already disclosed) Bills and accounts receivables – Parent Company and its subsidiaries 2,126,295 1,785,205 – Joint ventures 3,879 11,609 – Associates 679,276 263,888 Prepayments and other receivables – Parent Company and its subsidiaries 13,860,702 9,446,081 – Joint ventures 83 1,220 – Associates 113,189 800,245 Performance compensation receivable from the Parent Company – 18,360,561 Long-term receivables – Parent Company and its subsidiaries 932,938 975,100 – Associates – 62,612 Bills and accounts payables – Parent Company and its subsidiaries 5,826,595 9,532,901 – Associates 512,328 640,619 – Joint ventures 95,293 49,601 Other payables and accrued expenses – Parent Company and its subsidiaries 2,711,509 8,997,972 – Associates 8,467 11,478
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155 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 22 RELATED PARTY BALANCES AND TRANSACTIONS – CONTINUED (a) Balances and transactions with related parties – Continued The amounts due from/to the Parent Company and its subsidiaries, joint ventures and associates excluding the Group, are non-interest bearing, unsecured and repayable on demand. During the six months ended 30 June 2026 and 2025, the Group had the following significant transactions with the Parent Company and/or its subsidiaries (excluding the Group): Six months ended 30 June 2026 2025 RMB’000 RMB’000 (Restated) (Unaudited) (Unaudited) Income Sales of coal 6,074,957 8,254,118 Sales of bulk commodities 419,796 1,831,090 Sales of auxiliary materials 323,681 703,764 Sales of coal chemical 870,358 116,296 Supply of heat and electricity 51,550 6,473 Equipment leasing 63,544 90,709 Professional services 133,908 110,493 Provision of repair and maintenance services 6,462 31,807 Provision of road transportation services 311,730 282,342 Provision of technology services 2,841 40,738 Provision of port services 89,279 49,722 Mine rescue 27,903 49,138 Interest income – 11,159 Finance leasing 19 – Consulting services 349 – Expenditure Purchases of supply materials and equipment 2,008,449 1,800,361 Labour and services 1,233,879 4,601,554 Purchases of bulk commodities 1,793,996 2,586,430 Interest expenses – 1 In addition to the above, the Company participates in a retirement benefit scheme of the Parent Company in respect of retirement benefits.
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156 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 22 RELATED PARTY BALANCES AND TRANSACTIONS – CONTINUED (b) Balances and transactions with other state-controlled entities in the PRC The Group operates in an economic environment currently predominated by entities directly or indirectly owned or controlled by the PRC government (“state-controlled entities”). In addition, the Group itself is part of a large group of companies under the Parent Company which is controlled by the PRC government. Apart from the transactions with the Parent Company and its subsidiaries disclosed above, for the six months ended 30 June 2026 and for the year ended 31 December 2025, the Group’s significant transactions with other state-owned enterprises are a large portion of its sales of goods and purchases of raw materials and related receivables and payables. In addition, the Group has entered into various transactions, including deposits placements, borrowings and other general banking facilities, with certain banks and financial institutions which are state-controlled entities in its ordinary course of business. In view of the nature of those banking transactions, the directors of the Company are of the opinion that separate disclosure would not be meaningful. The directors of the Company consider that the transactions with other state-owned enterprises are not significant to the Group’s operations. In the opinion of the directors of the Company, all such transactions were conducted in the ordinary course of business and on normal commercial terms. 23 COMMITMENTS Save as disclosed elsewhere is the condensed consolidated financial statements, the Group had the following capital commitments. At 30 June At 31 December 2026 2025 RMB’000 RMB’000 (Unaudited) (Audited) Capital expenditure contracted for but not provided in the condensed consolidated financial statements Acquisition of property, plant and equipment – the Group 33,798,240 18,329,267 – share of joint operations 287,836 298,054 – others 212,021 223,743 Exploration and evaluation – the Group 2,140 5,440 – share of joint operations 9,521 8,183 Land – share of joint operations – 1,426 – others – 1,196 Acquisition of subsidiaries 16,414,903 – 50,724,661 18,867,309
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157 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 24 CONTINGENT LIABILITIES (i) Guarantees At 30 June At 31 December 2026 2025 RMB’000 RMB’000 (Unaudited) (Audited) (a) The Group Performance guarantees provided to daily operations 585,997 462,871 Guarantees provided in respect of the cost of restoration of certain mining leases, given to government departments as required by statute 936,897 759,424 (b) Joint operations Performance guarantees provided to external parties 885,952 1,011,471 Guarantees provided in respect of the cost of restoration of certain mining leases, given to government departments as required by statute 2,428,120 2,432,685 (c) Related parties Performance guarantees provided to external parties 288,365 307,625 Guarantees provided in respect of the cost of restoration of certain mining leases, given to government departments as required by statute 19,057 19,093 5,144,388 4,993,169 (ii) Letter of Support provided to Middlemount Coal Pty Ltd (“Middlemount”) Yancoal Australia Ltd. (the “Yancoal Australia”) has issued a letter of support dated 4 March 2015 to Middlemount, a joint venture of the Group confirming: – it will not demand the repayment of any loan due from Middlemount, except to the extent that Middlemount agrees otherwise or as otherwise provided in the loan agreement; and – it will provide financial support to Middlemount to enable it to meet its debts as and when they become due and payable, by way of new shareholder loans in proportion to its share of the net assets of Middlemount. This letter of support will remain in force whilst the Group is a shareholder of Middlemount or until notice of not less than 12 months is provided or such shorter period as agreed by Middlemount.
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158 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 24 CONTINGENT LIABILITIES – CONTINUED (iii) Other contingencies A number of claims have been made against the Group as part of the Group’s day to day operations. The directors of the Company do not believe that the outcome of these claims will have a material impact on the Group’s financial position. 25 DISPOSAL OF A WHOLLY-OWNED SUBSIDIARY On 1 February 2026, Yankuang Energy (Ordos) Company Limited, a wholly-owned subsidiary of the Company, transferred 100% equity interests in Inner Mongolia Xintai Coal Company Limited through public tender (the “Equity Transfer”) on Shandong Property Right Exchange Center Company Limited. On 6 March 2026, according to the “result notice” issued by Shandong Property Exchange Center for this Equity Transfer, the transferee was Ordos Wulan Coal (Group) Co., Ltd with a transaction price of approximately RMB3,050,010,000 and the transferee formally entered into the Property Rights Transaction Contract. The net assets of the disposed subsidiary at the date of disposal were as follows: RMB’000 Property, plant and equipment 166,764 Intangible assets 144,349 Prepayments and other receivables 803 Bank balances and cash 30,773 Bills and accounts payable (97) Other payables and accrued expenses (18,464) Contract liabilities (94) Deferred tax liabilities (132,714) Tax payables (18,894) Net assets disposed of 172,426 Gain on disposal of a subsidiary: RMB’000 Cash consideration received 3,019,455 Net assets (172,426) Gain on disposal of a subsidiary 2,847,029
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159 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 25 DISPOSAL OF A WHOLLY-OWNED SUBSIDIARY – CONTINUED Net cash inflow arising on disposal: RMB’000 Cash consideration 3,019,455 Cash and cash equivalents disposed (30,773) 2,988,682 26 DEEMED DISPOSAL FROM A SUBSIDIARY TO AN ASSOCIATE During the year ended 31 December 2025, Yanzhou Dongfang Electrical Co., Ltd* (ʮ̡) (“Dongfang Electrical”) has become an associate of the Group by a deemed disposal. On 14 February 2025, Yankuang Donghua Heavy Industry Co. Limited* (ʮ̡), a direct wholly- owned subsidiary of the Company, entered into the capital increase agreement (the “Agreement”) with Windsun Science Technology Co. Ltd* (ʮ̡) (“Windsun Science”), a non-wholly-owned subsidiary of the Parent Company. Pursuant to the Agreement, Windsun Science has to contribute approximately RMB55,926,000 in cash to subscribe for additional registered capital (the “Capital Injection”) of Dongfang Electrical. The Capital Injection was completed in March 2025 and the Group‘s equity interest in Dongfang Electrical was diluted from 94.34% to 47.17%. Dongfang Electrical ceased to be the subsidiary of the Group and was then accounted for as an associate of the Group using equity method. The fair value of the retained interests in Dongfang Electrical at the date on which the control was lost is regarded as the cost on initial recognition of the interest in associate. * The official name of the entity is in Chinese. The English name is for identification purpose only. The net assets of the disposed subsidiary at the date of disposal were as follows: RMB’000 Property, plant and equipment 9,602 Intangible assets 107 Inventories 34,394 Bills and accounts receivables 285,523 Prepayments and other receivables 2,366 Bank balances and cash 33,591 Deferred tax assets 2,353 Bills and accounts payable (229,340) Other payables and accrued expenses (10,781) Contract liabilities (1,317) Net assets disposed of 126,498
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160 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED 26 DEEMED DISPOSAL FROM A SUBSIDIARY TO AN ASSOCIATE – CONTINUED Loss on deemed disposal from a subsidiary to an associate: RMB’000 Interest in an associate retained 64,996 Net assets (126,498) Non-controlling interests 8,122 Loss on deemed disposal of (53,380) Net cash outflow arising on disposal: RMB’000 Cash consideration – Cash and cash equivalents disposed 33,591 33,591
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161 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED I SUPPLEMENTAL INFORMATION SUMMARY OF DIFFERENCES BETWEEN CONSOLIDATED FINANCIAL STATEMENTS PREPARED UNDER IFRS ACCOUNTING STANDARDS AND THOSE UNDER THE PRC ACCOUNTING RULES AND REGULATIONS (THE “PRC GAAP”) The Group has also prepared a set of condensed consolidated financial statements in accordance with relevant accounting principles and regulations applicable to the PRC enterprises. The condensed consolidated financial statements prepared under IFRS Accounting Standards and those prepared under the PRC GAAP have the following major differences: (1) Future development fund and work safety cost (a) Appropriation of future development fund is charged to profit before income taxes under the PRC GAAP. Depreciation is not provided for plant and equipment acquired by utilising the future development fund under PRC GAAP but charged to expenses when acquired. (b) Appropriation of the work safety cost is charged to profit before taxes under PRC GAAP. Depreciation is not provided for plant and equipment acquired by utilising the provision of work safety cost under the PRC GAAP but charged to expenses when acquired. (2) Reversal of impairment loss on intangible assets in Yancoal Australia Under IFRS Accounting Standards, the reversal of impairment loss on mining reserves was recognised as income in consolidated profit or loss. Under the PRC GAAP, no reversal of impairment loss on mining reserves was recognised. (3) Deferred taxation due to differences between the financial statements prepared under IFRS Accounting Standards and the PRC GAAP (4) Classification of perpetual capital security due to differences between the financial statements prepared under IFRS Accounting Standards and the PRC GAAP Under IFRS Accounting Standards, the perpetual capital security issued by the Company was classified as equity instrument and separated from net assets attributable to equity holders of the Company. Under the PRC GAAP, the perpetual capital security issued by the Company was classified as owners’ equity.
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162 Yankuang Energy Group Company Limited Interim Report 2026 CHAPTER 8 CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED I SUPPLEMENTAL INFORMATION – CONTINUED SUMMARY OF DIFFERENCES BETWEEN CONSOLIDATED FINANCIAL STATEMENTS PREPARED UNDER IFRS ACCOUNTING STANDARDS AND THOSE UNDER THE PRC ACCOUNTING RULES AND REGULATIONS (THE “PRC GAAP”) – CONTINUED The following table summarises the differences between condensed consolidated financial statements prepared under IFRS Accounting Standards and those under the PRC GAAP: Net income attributable to equity shareholders of the Company for the six months ended 30 June 2026 Net assets attributable to equity shareholders of the Company as at 30 June 2026 RMB’000 RMB’000 (Unaudited) (Unaudited) As per condensed consolidated financial statements prepared under IFRS Accounting Standards 7,874,971 76,115,376 Impact of IFRS Accounting Standards adjustments in respect of: – Difference in accounting treatment on work safety funds (919,240) (331,027) – Difference in accounting treatment on future development funds 1,727 (19,521) – Reversal of impairment loss attributable to Yancoal Australia 5,099 (43,545) – Deferred tax 187,087 1,137,079 – Perpetual capital security – 30,799,302 As per condensed consolidated financial statements prepared under the PRC GAAP 7,149,644 107,657,664