According to an announcement by Ningxia Baofeng Energy Group (600989.SH), the company plans to acquire the steam comprehensive pipeline project and related assets of Ningxia Baofeng Yunen (referred to as "Baofeng Yunen"), with a transaction amount of 0.492 billion yuan (tax included).

According to the air pollution environmental protection policy regulations of Yinchuan City, the existing coal-fired boilers in the Yinchuan Suyin Industrial Park will be phased out by 2025, necessitating the purchase of low-pressure steam from outside the park to meet the production operation needs of the park. The company currently has a coke production capacity of 7 million tons per year, and its dry quenching device produces a large amount of overheated steam. After the stepwise utilization in the chemical plants of Ningxia Baofeng Energy Group, the surplus low-pressure steam can meet the demand for low-pressure steam in the Suyin Industrial Park. To fully leverage the company's integrated advantages in the industry chain and the characteristics of low-temperature heat surplus in coal chemical processes, improve the efficiency of waste heat recovery and increase the added value of the industry chain, the company plans to acquire the steam comprehensive pipeline project of Baofeng Yunen. Upon completion of this transaction, the company will sell low-pressure steam externally at market prices through the steam comprehensive pipeline, which can not only satisfy the steam demand for production operations in the Suyin Industrial Park but also play a positive role in enhancing the added value of the company's industry chain.