Core Viewpoint - The company Xinjiang Mingxin Oil and Gas Exploration and Development Co., Ltd., a subsidiary of New Natural Gas (603393), plans to undergo a spin-off to enhance operational efficiency and strategic development in the coal-based energy sector [1] Group 1: Spin-off Details - The spin-off will result in the establishment of two entities: the existing company Xinjiang Mingxin and a newly formed company, with the shareholding structure remaining unchanged at 65% for the company and 35% for Fucheng Energy [1] - Xinjiang Mingxin will focus on the exploration, development, and production of coal resources in the Santanghu mining area of Hami, Xinjiang [1] - The new company will serve as the operational entity for oil and gas resource projects in northern Kashgar, Xinjiang [1] Group 2: Strategic Implications - The spin-off is expected to optimize resource allocation and enhance specialized management within the subsidiary [1] - It will facilitate the introduction of new strategic investors, accelerating the development of coal-based energy projects [1] - The move aims to reduce future capital expenditure and strengthen the company's market competitiveness and overall advantages [1]