China Qinfa Group Limited announced that SDE, a non-wholly owned subsidiary of the Group, begins coal mining operation in Indonesia. SDE holds a coal mining business license of a coal mine located at Sungai Durian, Kotabaru Regency, South Kalimantan, Indonesia with a site area of approximately 185 square kilometers (the "SDE Coal Mine"). The Group has engaged an independent mineral industry consultant (the "Consultant") to estimate the total coal reserves and resources of the SDE Coal Mine in accordance with the JORC Code.

As reported by the Consultant, the SDE Coal Mine was estimated to have probable coal reserves of approximately 293 million tonnes and coal resources of approximately 589 million tonnes as at 31 December 2021. As at 30 November 2023, the Group's total investment in the SDE Coal Mine amounted to approximately USD 300 million. The SDE Coal Mine is designed with production capacity up to approximately 10 million tonnes per annum (Mtpa) of coal.