SHENHUO COAL&POWER(SZ:000933) Shang Hai Zheng Quan Bao·2025-10-20 20:20Core Viewpoint - The company has announced its third-quarter report for 2025, detailing financial data, corporate restructuring, and strategic initiatives, including a planned spin-off of a subsidiary and a bankruptcy restructuring of a related entity [3][12][6]. Financial Data - The third-quarter report has not been audited [10] - The company confirms that there are no adjustments or restatements of previous accounting data [3] - The report includes a statement from the management ensuring the accuracy and completeness of the financial information [2][12] Corporate Actions - The company plans to spin off its subsidiary, Shenhuo New Materials Technology Co., Ltd., to enhance its aluminum processing business [4][5] - The board has approved the acquisition of a 51% stake in Shangqiu Sunshine Aluminum Co., Ltd. and the full ownership of Yunnan Shenhuo New Materials Technology Co., Ltd. by Shenhuo New Materials [5] - The company is undergoing a bankruptcy restructuring for its subsidiary, Henan Youse Huiyuan Aluminum Co., Ltd., due to severe losses and inability to continue operations [6][7] Shareholder Information - The company has initiated a share buyback plan with a total amount between 250 million yuan and 450 million yuan, with a maximum repurchase price of 20 yuan per share [7] - As of September 30, 2025, the company has repurchased 15,420,360 shares, accounting for 0.686% of the total share capital [7] Management Changes - Several senior management members have announced plans to reduce their shareholdings in the company, with specific details on the number of shares and the timeframe for the reductions [18][19][20] - The reasons for the share reductions include personal financial needs such as repaying loans related to equity incentives [20]