On November 17, 2025, the National Development and Reform Commission (NDRC) simultaneously issued the "Notice on Doing a Good Job in the Signing and Performance Supervision of Medium- and Long-Term Contracts for Coal Supply in 2026," officially establishing a monthly price adjustment mechanism based on "benchmark price + floating price," providing clear direction for price stability, supply security, and high-quality development in the coal industry. Currently, the coal market is facing phased internal competition pressure, with some coal types already falling below long-term contract prices. This is detrimental to the coordinated development of the upstream and downstream of the industrial chain and affects the sustainable operation of the industry. The coal industry is deeply mired in a dilemma of "increased production, decreased prices, and increasing losses," with vicious price wars caused by supply-demand imbalances compressing profit margins across the industry, disrupting market order, and hindering industrial upgrading.

Inner Mongolia Xinhe Coal Co., Ltd., a subsidiary of Inner Mongolia Xinhe Resources Investment Group and one of the "first batch of national private coal supply units," deeply understands that distorted price signals lead to resource misallocation and market disorder. Only by promoting a return to rational pricing based on value can the current dilemma of internal competition be broken, injecting lasting momentum into the industry's development. Xinhe Resources calls on all coal enterprises to build consensus. Our company will adhere to a sales bottom line of no less than 550 yuan for 4500 kcal coal, no less than 650 yuan for 5000 kcal coal, and no less than 750 yuan for 5500 kcal coal, refraining from low-price dumping and vicious price competition; strengthening industry self-discipline and information sharing; and mitigating the supply-demand contradiction of "high inventory and weak demand" through coordinated production control and optimized supply. At the same time, we will focus on product differentiation and precise services, allowing the value of each coal type to be recognized by the market and promoting a return to a reasonable price range.

When the industry prospers, enterprises prosper; when the industry is stable, enterprises are stable. Let us work together to abandon internal competition and infighting, protect the foundation of the industry with value-based pricing, and activate development momentum through collaborative win-win strategies, promoting the transformation of the coal industry from "competing on price" to "competing on value," and achieving high-quality and sustainable development for the entire industry!