Huaibei Mining Steps Forward as Backup Restructuring Investor in Tongde Chemical Bankruptcy Case

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Huaibei Mining Holdings Co.,Ltd. (SH: 600985) has announced its involvement in the bankruptcy restructuring of Shanxi Tongde Chemical Co., Ltd., taking on the role of a backup restructuring investor.

The company revealed that its tenth board of directors convened its thirteenth meeting on July 14, 2026, where it greenlit the investment plan for participating in Tongde Chemical's bankruptcy restructuring. Under this plan, Huaibei Mining Holdings Co.,Ltd. will join forces with financial investors to form an investment consortium, positioning itself as an industrial investor to submit a restructuring proposal to the pre-restructuring auxiliary agency overseeing Tongde Chemical's case.

On September 17, 2026, Huaibei Mining Holdings Co.,Ltd. received formal notification from the auxiliary agency stating that while it was not selected as the primary restructuring investor, it has been designated as an alternate. The company emphasized that this development will not adversely affect its regular business operations or financial stability.

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Under this plan, <b>Huaibei Mining Holdings Co.,Ltd.</b> will join forces with financial investors to form an investment consortium, positioning itself as an industrial investor to submit a restructuring proposal to the pre-restructuring auxiliary agency overseeing Tongde Chemical's case.<br><br>On September 17, 2026, <b>Huaibei Mining Holdings Co.,Ltd.</b> received formal notification from the auxiliary agency stating that while it was not selected as the primary restructuring investor, it has been designated as an alternate. 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