Yankuang Becomes Strategic Core Shareholder of SMT Scharf AG

SMT Scharf AG has announced that Yankuang Energy Group Company Limited has acquired approximately 52.66% of the company. This acquisition marks a significant shift as Yankuang becomes a strategic core shareholder. The move is expected to enhance SMT Scharf's growth prospects, particularly in the coal mining sector, thanks to Yankuang's strong market position in China.

There have also been significant personnel changes. Mr. Jun Liu has been appointed as the new CEO of SMT Scharf AG, alongside current board members Reinhard Reinartz and Volker Weiss. Changes in the Supervisory Board include the resignation of Dr.-Ing. Dirk Vorsteher and Mrs. Dorothea Gattineau, replaced by Mr. Li Zhang and Mr. Qiang Yu.

SMT Scharf still plans to apply for admission of its shares to the Regulated Market (Prime Standard) of the Frankfurt Stock Exchange. This strategic move follows successful completion of share purchase agreements, according to terms confirmed in March 2024.