Gelonghui April 21, Pingping Coal (601666)TaikonotatsujinarcadeSH) issued an announcement that in order to meet the requirements of the "double carbon" policy, the company laid out in advance, comprehensively promoted the clean and efficient utilization of coal, and promoted the high-quality transformation and development of Pingping Coal shares through scientific and technological innovation. The company plans to set up a wholly-owned subsidiary "Henan Caborui Materials Co., Ltd." to carry out technical cooperation with Shunxin Coal Chemical Company to build a 6000 t / a coal-based carbon materials coupling technology pilot project. The direct liquefaction of raw coal into high-end functional carbon materials such as new high-quality asphalt lays a solid foundation for extending the industrial chain, enhancing the added value of coal products and promoting the innovation and development of the company.

The project is a research and development project, with an estimated total investment of 230 million yuan, including 30 million yuan in technology royalties and 200 million yuan in fixed assets investment.TaikonotatsujinarcadeThe preliminary design estimate shall prevail, and the total investment of the project budget shall be determined.

The company innovates to carry out the research and development of coal-based carbon material coupling technology to transform coal from fuel to new high-quality carbon materials, so as to achieve clean, efficient and high value-added utilization of coal, which is of great strategic significance to the company's high-quality transformation and development. This investment will not have a significant impact on the company's financial situation and operating results, and there is no harm to the legitimate interests of the company and all shareholders, which is in line with the company's long-term development strategy.