The purchase price of raw coal in the fourth quarter of Yangquan coal industry

Yangquan Coal Industry announced on the evening of October 14 that according to paragraph 5.2 of the raw coal purchase agreement, the company and the controlling shareholder Yangquan Coal Industry (Group) Co., Ltd. (hereinafter referred to as "Yangquan Coal Group") decided to jointly engage Shanxi Gaorui price evaluation Co., Ltd. to provide price evaluation services. Based on the raw coal sales price investigation report and certification conclusion provided by Shanxi Gaorui price evaluation Co., Ltd., the two sides adjusted and determined the raw coal purchase price in this quarter in combination with the production cost of raw coal in the custody mine. According to the company's research and agreement, the price of raw coal purchased by the company and its subsidiaries in the fourth quarter of 2019 is determined as follows: According to the calculation and evaluation report of raw coal price issued by Shanxi Gaorui price evaluation Co., Ltd. (jgrui [2019] No. 39), the average price of raw coal purchased by the company in the fourth quarter of 2019 is confirmed. It is determined to be 360 CNY/ton (excluding washing consumption), which is the same as the purchase price of 360 CNY/ton in the third quarter of 2019. According to the calculation and evaluation report of raw coal price issued by Shanxi Gaorui price evaluation Co., Ltd. (jgrui [2019] No. 40), in the fourth quarter of 2019, the average price of raw coal of Yangquan coal industry group Changgou Coal Mine Co., Ltd. purchased by Yangquan coal industry group Changgou Coal Mine Co., Ltd. is determined as 330 CNY/ton (excluding washing consumption), compared with the third quarter of 2019. The purchase price in the quarter was 320 CNY/ton, up 10 CNY/ton, with a change of 3.13%. According to Article 5.3 of the raw coal purchase agreement, the price determination and adjustment need not be submitted to the board of directors and the general meeting of shareholders of the company for review and approval because the above price change is less than 20%.