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About XINCHAO

History

2025

Inner Mongolia Yitai Coal Co., Ltd. became the controlling shareholder of the company. The new board of directors selected management team members who, through unremitting efforts and practical work, fundamentally streamlined the company’s corporate governance structure and internal control system, bringing the company’s operations and management fully onto the right track.

2024

December 2024: the U.S. subsidiary Surge Energy achieved the lowest leverage ratio, highest liquidity, and best completion efficiency in the company’s history, with 62,000 barrels of oil equivalent per day.

2023

At the end of 2023, the company’s net assets exceeded the threshold of RMB 20 billion.

2022

At the end of 2022, the company’s total assets exceeded the threshold of RMB 30 billion.

2021

The company seized the favorable opportunity of oil price recovery and successfully acquired the Grenadier shale oil and gas assets in Howard County, Texas, United States, and was awarded the “2021 Top Ten Cross-border M&A Golden Whistle Award”.

2020

The company was included in the FTSE Russell Index and the S&P Emerging Markets Global Benchmark Index (S&P Emerging BMI).

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