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China Qinfa Group Ltd. ( (HK:0866) ) has issued an update.
China Qinfa Group’s non-wholly owned subsidiary SDE has entered into a coal supply agreement to sell 70,000 metric tonnes of Indonesian steam coal, subject to a 10% quantity adjustment, to Zhejiang Energy Asia Pacific. Shipments are scheduled to begin in May 2026 and will continue until the agreed contracted quantity has been fully delivered and paid for.
Because Zhejiang Energy Asia Pacific is a substantial shareholder in an indirect subsidiary, the deal is treated as a connected transaction under Hong Kong listing rules, triggering reporting, announcement and annual review requirements but exempting it from shareholder approval. The board and independent non-executive directors have deemed the terms fair, reasonable and on normal commercial terms, suggesting the transaction supports Qinfa’s trading operations while maintaining compliance safeguards for investors.
More about China Qinfa Group Ltd.
China Qinfa Group Limited is a Hong Kong-listed company engaged in the coal trading and supply business, with operations involving subsidiaries such as SDE and indirect non-wholly owned units like Lead Far. The group focuses on sourcing and selling steam coal, including Indonesian-origin coal, to energy companies and industrial buyers in regional markets.
Average Trading Volume: 12,786,077
Technical Sentiment Signal: Buy
Current Market Cap: HK$7.38B
For an in-depth examination of 0866 stock, go to TipRanks’ Overview page.