On June 17th, Shenhuo Coal & Power Co., Ltd. released its investor relations activity record. Regarding the coal sector, the company has an annual production capacity of 7.95 million tons, with an estimated annual output of 6.95 million tons, mainly anthracite and lean coal, with a clean coal rate of approximately 75%, and prices fluctuating with market conditions. Since the beginning of this year, coal prices have generally stabilized and rebounded, leading to improved profitability in the coal sector. In the aluminum processing sector, the company currently has an aluminum foil production capacity of 140,000 tons/year and an aluminum foil billet production capacity of 265,000 tons/year. The 50,000-ton/year new energy battery aluminum foil project in Shangqiu is currently progressing smoothly.

US April PPI was up 6% YoY, the highest since December 2022, versus expectations of 4.9%, with the prior reading revised from 4.00% to 4.3%. April PPI was up 1.4% MoM, the highest since March 2022, versus expectations of 0.5%, with the prior reading revised from 0.50% to 0.7%.

On December 1, 2025, the second phase of the Henan New Energy Carbon Coated Foil Project, a collaborative project between Guangdong Lier New Material Technology Co., Ltd. and Shenhuo New Material Technology Co., Ltd. (hereinafter referred to as "Shenhuo New Material"), a subsidiary of Shenhuo Group, officially commenced construction at its production base in Shangqiu, Henan. From January to September 2025, Lier Technology's new energy carbon coated foil business achieved a year-on-year revenue increase of 479.15%, successfully ranking among the top three in the industry, with capacity utilization nearing saturation.

Recently, the Development and Reform Commission of Henan Province issued the "Notice on Organizing the Application for 2025 Henan Provincial Engineering Research Centers." The document specifies that application fields include strategic emerging industries such as new-generation information technology, biomedicine, new energy, NEVs, aerospace, new materials, high-end equipment, energy conservation and environmental protection, and low-altitude economy, as well as future industries like artificial intelligence, hydrogen energy and new-type energy storage, bio-manufacturing, quantum technology, new-generation information networks, and advanced new materials. Application quantity requirements: For higher education institutions: "Double First-Class" universities are limited to 3 applications, universities under the Double First-Class initiative to 2, and other institutions to 1. For hospitals: those undertaking national medical center construction tasks or pilot projects for regional medical centers are limited to 3 applications, others to 1. For research institutes: provincial government-affiliated institutions are limited to 3 applications, others to 1. For enterprises: limited to 1 application per entity. Full text as follows: Notice of the Development and Reform Commission of Henan Province on Organizing the Application for 2025 Henan Provincial Engineering Research Centers To municipal development and reform commissions, Jiyuan Demonstration Zone Development, Reform and Statistics Bureau, Zhengzhou Airport Economy Zone Economic Development Bureau (Statistics Bureau), and relevant provincial departments: To accelerate the cultivation of innovation-leading platforms and enhance the province's independent innovation capabilities, in accordance with the "Henan Provincial Engineering Research Center Management Measures" (Yu Fa Gai Gao Ji [2021] No. 777, hereinafter referred to as the "Management Measures"), the relevant matters concerning the 2025 application process are hereby notified as follows: I. Application Fields Strategic emerging industries including new-generation information technology, biomedicine, new energy, NEVs, aerospace, new materials, high-end equipment, energy conservation and environmental protection, and low-altitude economy; future industries such as artificial intelligence, hydrogen energy and new-type energy storage, bio-manufacturing, quantum technology, new-generation information networks, and advanced new materials. II. Application Conditions (1) Jointly established by medium- and large-sized enterprises, universities, or research institutes, with clearly designated lead and participating units. Applicants must be registered in Henan Province with independent legal entity status. (2) Compliance with the "Management Measures," clear orientation and development strategy, objectives aligned with industrial and technological trends, standardized management and operational mechanisms, and all necessary support conditions for timely construction, normal operation, and sustained innovation. No provincial-level engineering research centers should already exist in the same industry subsector or technical direction. The construction period generally does not exceed 2 years. III. Application Quotas (1) For universities as applicants, "Double First-Class" universities are limited to 3 applications, universities striving for "Double First-Class" status are limited to 2 applications, and other universities are limited to 1 application. (2) For hospitals as applicants, hospitals undertaking national medical center construction tasks and national regional medical center pilot projects are limited to 3 applications, and other hospitals are limited to 1 application. (3) For scientific research institutes as applicants, scientific research institutions directly under the provincial government are limited to 3 applications, and other scientific research institutes are limited to 1 application. (4) For enterprises as applicants, they are limited to 1 application. IV. Submission of Materials All applicants are requested to prepare the application report for the Engineering Research Center of Henan Province in accordance with the requirements of the "Management Measures" and the application outline (see Annex 2). After being reviewed by the competent department, three copies of the report should be submitted to our commission before September 1, 2025. The application materials include the request document with the official seal of the competent unit, the summary table of application status (see Annex 2-1), the paper and electronic versions of the application report. Contact number: 0371-69691194 Annexes: 1. Basis for Application Quotas of Each Unit 2. Outline of the Application Report for the Engineering Research Center of Henan Province July 28, 2025 Annex 1 Basis for Application Quotas of Each Unit I. "Double First-Class" Universities Zhengzhou University, Henan University II. Universities Striving for "Double First-Class" Status Henan Polytechnic University, Henan Agricultural University, Henan Normal University, Henan University of Science and Technology, Henan University of Technology, Henan University of Chinese Medicine, North China University of Water Resources and Electric Power III. Hospitals Undertaking National Medical Center Construction Tasks The First Affiliated Hospital of Henan University of Chinese Medicine IV. Hospitals Undertaking National Regional Medical Center Pilot Projects Fuwai Central China Cardiovascular Hospital (Henan Provincial People's Hospital), Henan Cancer Hospital, The First Affiliated Hospital of Zhengzhou University, Henan Children's Hospital (Zhengzhou Children's Hospital), Henan Traditional Chinese Medicine Hospital, The Third Affiliated Hospital of Zhengzhou University, The Second Affiliated Hospital of Xinxiang Medical University, Zhengzhou Central Hospital, Luoyang Central Hospital, Luoyang Traditional Chinese Medicine Hospital, Nanyang Traditional Chinese Medicine Hospital, Shangqiu Traditional Chinese Medicine Hospital V. Scientific Research Institutions Directly Under the Provincial Government Henan Academy of Sciences, Henan Academy of Agricultural Sciences, Henan Academy of Social Sciences, Henan Academy of Medical Sciences Annex 2 Outline of the Application Report for the Engineering Research Center of Henan Province I. Summary of the Establishment Plan for the Engineering Research Center (about 1000 words) II. Background and Necessity of the Establishment of the Engineering Research Center 1. The status and role of this field in national economic construction; 2. The status of technological development, industrial development, and market analysis both domestically and overseas; 3. The key technical issues that need to be urgently addressed in this field; 4. The main problems and reasons for the lack of achievement transformation and industrialisation in this field; 5. The significance and role of the construction project research center. III. Overview of the Applying Unit and Construction Conditions 1. Overview of the applying unit; 2. Important scientific research achievements to be engineered and industrialised, and their levels; 3. Overview of the technical team and the main leaders of the discipline; 4. Existing basic conditions. IV. Main Tasks and Objectives 1. The main development direction of the engineering center; 2. The main functions and tasks of the engineering center; 3. The development strategy and operational approach of the engineering center; 4. The short-term and medium-term objectives of the engineering center. V. Management and Operational Mechanism 1. The organizational structure, responsibilities, and operational mechanism of the engineering center; 2. Overview of the team, staffing, and the main leaders of the discipline and technology; 3. Relationships with relevant enterprises, scientific research units, and institutions. VI. Establishment Plan and Investment Estimation 1. The location, content, scale, and plan for the construction of the engineering center; 2. Supporting and supporting conditions provided by the applying unit and participating units; 3. Investment estimation for the construction of the engineering center; 4. Fundraising plan. VII. Preliminary Analysis of Economic and Social Benefits VIII. Other Issues to Be Clarified IX. Attachments to Be Provided 1. Agreement on the establishment of the engineering center by the supporting unit; 2. Charter of the engineering center (legal business document); 3. Supporting documents for previous scientific and technological achievements; 4. Other supporting documents, etc. Attachments: