Core Viewpoint - The company Xinjiang Xintai Natural Gas Co., Ltd. has approved a plan for the spin-off of its subsidiary Xinjiang Mingxin Oil and Gas Exploration and Development Co., Ltd. to enhance operational efficiency and attract strategic investors [10][20]. Group 1: Meeting Resolutions - The fifth board meeting of the company was held on June 3, 2025, where all 9 attending directors unanimously approved the spin-off proposal [2][3]. - The fifth supervisory board meeting also took place on the same day, with all 3 attending supervisors approving the same spin-off proposal [5][6]. Group 2: Spin-off Details - The spin-off will create a new company while maintaining the existing ownership structure, with the company holding 65% and Karamay Fucheng Energy Group Co., Ltd. holding 35% [10]. - Post-spin-off, Xinjiang Mingxin will focus on clean and efficient coal-based energy operations, particularly in the Hami region's coal exploration and production [10][20]. - The new company will operate in the exploration and production of oil and gas resources in the Kashgar region [10]. Group 3: Strategic Implications - The spin-off is expected to optimize resource allocation and enhance specialized management, facilitating the introduction of new strategic investors [10][20]. - It aims to reduce future capital expenditures and strengthen the company's market competitiveness and overall advantages [10][20]. - The company anticipates that the spin-off will not adversely affect its production and operational status, nor harm the interests of shareholders, especially minority shareholders [20].