Zhitong Financial and Economic APP, Huadian International Power Co., Ltd. (01071) issued a notice that Inner Mongolia Haoyuan Coal Co., Ltd. (Haoyuan Company), a subsidiary of the company, received the Civil order of the people's Court of Dongsheng District of Ordos City ((2021) No. 2), and the decision of the people's Court of Dongsheng District of Ordos City (0602 broken No. 1) within (2021).

As Haoyuan Company is seriously insolvent and unable to pay off its maturing debts, the creditor Shandong Shuntian Mining Co., Ltd. (Sainty Company) has applied to the court for the bankruptcy of Haoyuan Company. the applicant's domicile is the east head of Kunlun Town, Zichuan District, Zibo City, Shandong Province.

It is reported that Haoyuan Company was established in May 2007, with a registered capital of 3 million yuan, which is mainly responsible for the operation of Yanjiata opencast Coal Mine in Ordos City. The mine has been shut down since 2013. The company holds 85% of Haoyuan's equity, and individual shareholder Li Junzhi holds 15% of Haoyuan's equity.

The court has accepted Sainty's bankruptcy application for Haoyuan. After the appointment of the bankruptcy liquidation administrator, Haoyuan Company will no longer be included in the scope of the company's consolidated statements. The company's equity attributable to Haoyuan's net assets of about-813 million yuan will be adjusted accordingly to increase the company's current investment income.