When facing thousands of listed company announcements every day, which ones should you read? What are the key points to take away from the dozens or hundreds of pages of material announcements? Are the many professional terms in the announcements bullish or bearish? Check out Caixin's "Quick Read Announcement" column, where our reporters across the country will provide you with accurate, fast and professional interpretations on the night of the announcement.

On August 7th, Caixin reported that Yongtai Energy (600157.SH), which has been suspended to plan major events, will resume trading tomorrow. The company disclosed the plan for the issuance of shares to purchase assets tonight, proposing to purchase a 51% stake in Tianyue Coal for no more than 0.35 billion yuan. It is worth noting that the company has released 20 announcements, including the announcement that the Haizetan coal mine has obtained a 5 billion yuan syndicated loan before publication of this document.

To strengthen its current dominant energy business, promote the company's further development and enhance its profit-making ability; and to achieve better long-term returns for investors, as well as confidence in the market, Yongtai Energy's securities department said that the issuance of shares to purchase assets is also intended to introduce strategic investors and further enhance the company's value. Please use your Futubull account to access the feature.

On the eve of the resumption of trading, Yongtai Energy, which has a total market value of nearly 25 billion yuan, disclosed a plan to purchase assets. The company plans to purchase a 51.0095% stake in Shanxi Lingshi Xinyue Tianyue Coal Industry Co., Ltd. held by Shanxi Xinyi Energy Group Co., Ltd. through the issuance of shares. As of the date of the signing of the asset purchase plan, the audit and evaluation work of the target company has not been completed, and the transaction price is tentatively set not to exceed 0.35 billion yuan. The share issuance method for this transaction is to issue to specific objects, and the issuing object is Xinyi Group. The issue price is 1.29 yuan/share.

The announcement shows that after the completion of this transaction, the company's high-quality coking coal resource reserves can be increased by 28.3696 million tons, and the coking coal production capacity and output can be increased by 0.6 million tons/year. Based on the current profit level of similar coal mines managed by the company, the net income can be increased by more than 0.16 billion yuan per year. The company currently has coal resources of 3.829 billion tons, including 0.922 billion tons of coking coal resources and 2.907 billion tons of thermal coal resources (including the ongoing Haizetan coal mine, with a reserve of 1.145 billion tons).

Yongtai Energy's securities department told Caixin reporters that issuing shares to purchase assets is also intended to introduce strategic investors and further enhance the company's value. Compared with the acquisition plan, the announcement of the approval of a 5 billion yuan syndicated loan to Shaanxi Yihua Haizetan coal mine seems to be a heavier event. Today, Yongtai Energy announced that it has received a letter from PuFa Bank Jindong Branch, which agrees that PuFa Bank will act as the lead bank of the syndicated loan, providing a total syndicated loan of no more than 5 billion yuan to Shanxi Yihua Mining Development Co., Ltd. owned by the company, of which PuFa Bank will give the company a new credit line of 2.5 billion yuan, all of which are project-type credit lines, and the credit business type is fixed asset loan.

Before the resumption of trading, Yongtai Energy, which has a total market value of nearly 25 billion yuan, disclosed a plan to purchase assets. The company plans to purchase a 51.0095% stake in Shanxi Lingshi Xinyue Tianyue Coal Industry Co., Ltd. held by Shanxi Xinyi Energy Group Co., Ltd. through the issuance of shares. As of the date of the signing of the asset purchase plan, the audit and evaluation work of the target company has not been completed, and the transaction price is tentatively set not to exceed 0.35 billion yuan. The share issuance method for this transaction is to issue to specific objects, and the issuing object is Xinyi Group. The issue price is 1.29 yuan/share.

The financial data shows that the company's operating cash flow was 1.115 billion yuan in the first quarter of this year, with short-term borrowings of 3.665 billion yuan, long-term borrowings of 16.161 billion yuan, and an asset-liability ratio of 51.52%.

Yongtai Energy said that the total investment of Haizetan coal mine is 8.533 billion yuan (excluding mining rights fees), and it started construction in December 2022. It is expected to have the first working face in June 2026 and produce 3 million tons of coal that same year. It is expected to reach full production in 2027 and produce 10 million tons of coal that same year. After reaching full production, the estimated annual new revenue is about 9 billion yuan based on the average coal price in 2023, with a net profit increase of about 4.4 billion yuan, a new operating net cash flow increase of about 5.1 billion yuan, and an ROI of over 50%.

To strengthen the market's and all shareholders' confidence in the company, Yongtai Energy also announced the operating performance estimates for the period from 2025 to 2027 tonight. Based on the company's current business layout, capacity, and the construction and production of Haizetan coal mine, the company is expected to achieve a net profit of 2.8 billion yuan, 3.8 billion yuan, and 5.8 billion yuan respectively from 2025 to 2027, an increase of 23.58%, 35.71%, and 52.63% YoY, respectively.

From the perspective of past performance, the financial data shows that the company's net profit for the full year of 2022 and 2023 was 1.909 billion yuan and 22.66 billion yuan, respectively, and it is expected to achieve a net profit of 1.16 billion yuan to 1.26 billion yuan in the first half of this year, with YoY growth in performance and relatively stable performance.

In addition, Wintime Energy also disclosed the progress of obtaining mining rights for coal-based aluminum projects. As the first mine to obtain mining rights for coal-based aluminum ore, the company's affiliated mines are advancing geological exploration, reserve filing, and mining rights acquisition. The estimated resource volume of coal-based aluminum in the company's eight coal mines is 0.116 billion tons, and according to the calculation based on mining ratio of 60%, the approximated extractable amount is about 69.58 million tons. After obtaining the mining rights, based on the current production capacity of 6.9 million tons/year of the eight coal mines, the production cost of coal-based aluminum is approximately 300 yuan/ton, and the sales price of similar aluminum ore products in the surrounding area is approximately 450 yuan/ton, it is expected that the development of coal-based aluminum can increase the company's total operating income by more than 2.7 billion yuan per year and the net income by approximately 0.46 billion yuan.

Following the combination of measures taken by Wintime Energy to support the stock market and on the eve of its resumption of trading, the release of 20 announcements shows its intention to support the stock price. It is worth noting that among the low-priced non-ST companies, the warning of face value delisting has not been lifted. In addition to Wintime Energy, many market value companies with a market value of billions, such as Inner Mongolia Baotou Steel Union (600010.SH), Hainan Airlines Holding (600221.SH), Liaoning Port (601880.SH), and Greenland Holdings Corporation (600606.SH), currently have a stock price of less than 1.5 yuan/share. Some market participants believe that in the face of a low industry cycle and changing market environment, the stock prices of many well-performing listed companies have fallen close to the 1 yuan red line, and there is a risk of being "wrongly killed".