On September 24, Yankuang Energy held a ceremony in Frankfurt for the transaction and the up-listing of SMT Scharf AG on the main board of the Frankfurt Stock Exchange (Prime Standard of Frankfurt). SMT Scharf is now listed on both the Frankfurt and Munich stock exchanges. This marks that SDE officially has 8 domestic and overseas listed companies, along with five companies listed on the NEEQ. Yankuang Energy Group will become the only large energy enterprise in China with six listing platforms including Shanghai, Hong Kong, New York, Sydney, Frankfurt, and Munich.

Li Wei, Secretary of the CPC Shandong Energy Committee and Chairman of SDE, and Chairman of Yankuang Energy, attended the ceremony and delivered a speech. The uplisting of SMT Scharf in Frankfurt is an important step in Yankuang Energy’s ongoing efforts to advance its going-global strategy. Shandong Energy Group will fully leverage its experience and advantages in international management and operations, to actively collaborate with German enterprises and various sectors, and pursue diversified and in-depth exchanges and cooperation. He sincerely hopes that SMT Scharf will continue to play a pivotal role in promoting joint research, manufacturing, and economic ties between China and Germany in the future, contributing even more to the advancement of China-Germany relations and creating more social value for all parties concerned.

Reportedly, Yankuang Energy, a subsidiary of Shandong Energy Group, announced on September 20, 2024, that it had successfully completed the acquisition of a controlling 52.66% stake in SMT Scharf AG.

Founded in 1941, SMT Scharf AG is a primary service provider of rail-bound transport systems for underground mining and tunneling. Currently, It has secured 34% of global market share for installed monorail systems.