IMDTECL (002128) has completed the issuance and listing of shares for its major asset restructuring, continuously expanding its coal, electricity, and aluminum industry layout

On June 3rd, Inner Mongolia IMDTECL Co., Ltd. completed the registration and issuance of shares for its major asset restructuring. After the listing of these shares, IMDTECL's total share capital increased from 2.242 billion shares to 2.953 billion shares, significantly boosting its market value from 40 billion yuan on the day of the restructuring suspension to 90.5 billion yuan on the day of the new shares listing, moving towards the ranks of "trillion yuan market value" listed companies.

This major asset restructuring was initiated in May 2025, where IMDTECL acquired 100% equity of Baiyin Hwa Coal Power held by State Power Investment Corporation Inner Mongolia Energy Co., Ltd. through a combination of issuing shares and cash payment, with a total transaction price of 11.149 billion yuan, while raising supporting funds not exceeding 4.5 billion yuan. On April 16, 2026, the restructuring plan was approved by the M&A and Restructuring Committee of the Shenzhen Stock Exchange, and on April 27, it received approval for registration from the China Securities Regulatory Commission.

▲ Hohhot River "Coal-New Energy-Electricity-Aluminum" Circular Economy New Paradigm

When IMDTECL was established, its main business was coal production and sales. With gradual transformation and development, leveraging capital operations and other means, it has now formed a comprehensive energy enterprise focused on coal, electricity, and aluminum integration and new energy. Before the restructuring, it had a coal production capacity of 48 million tons/year, an installed power capacity of 9.74 million kilowatts (including 3 million kilowatts of thermal power and 6.74 million kilowatts of new energy), and an electrolytic aluminum production capacity of 1.21 million tons/year (including 350,000 tons under construction). After the restructuring, IMDTECL's coal production capacity increased to 63 million tons/year, an increase of 15 million tons/year; installed power capacity rose to 12.91 million kilowatts, an increase of 3.17 million kilowatts (including an increase of 2.62 million kilowatts in thermal power and 550,000 kilowatts in new energy); electrolytic aluminum production capacity reached 1.61 million tons/year, an increase of 400,000 tons/year; the proportion of electrolytic aluminum operating revenue also increased from 53% before the restructuring to 56%, an increase of about 3 percentage points.

▲ Baiyin Hwa "Coal-New Energy-Electricity-Aluminum" Circular Economy New Paradigm

This major asset restructuring is of significant milestone importance in the development history of IMDTECL. It not only brought about a significant increase in production capacity and asset scale but also promoted a deep optimization of the company's industrial structure. IMDTECL has built two circular economy industrial clusters in Hohhot River and Baiyin Hwa, driving performance growth through the coal, electricity, and aluminum industries, further enhancing asset scale, profitability, and risk resistance, becoming an important energy-listed company in the A-share market, and writing a new chapter in the company's high-quality development This major asset restructuring is not only a typical implementation case of the China Securities Regulatory Commission's "Six Merger and Acquisition Policies" in the energy sector, but also a concrete practice of deepening and enhancing state-owned enterprise reform. Moreover, it is a powerful means for IMDTECL's market value management to reach a new level, fully demonstrating the regulatory authorities' strong support for the integration of quality assets and the optimization and upgrading of the industrial chain, as well as the management team's determination and confidence in vigorously developing the circular economy and strengthening, optimizing, and expanding the enterprise. It sets a good example for the energy industry to improve quality and efficiency relying on the capital market.

Looking ahead, IMDTECL will take this restructuring as an opportunity to leverage the advantages of the circular economy industrial synergy platform, continuously consolidate and enhance the core competitiveness of the enterprise, provide steady development and excellent performance to return to a wide range of investors, and contribute solid energy strength to support the stable and healthy development of the capital market with the responsibility and commitment of a central enterprise, laying a good foundation for the "14th Five-Year Plan"!