The Road to September, page-15

I can hardly imagine that the chinese are going to export coal briquettes. Their intention is to increase the efficiency of their coal and energy business with the deployment of bcb. Therfore I presume that White directors are going to sell them a license with recurring royalties, i.e. no capex for White.

Yankuang Group Company (“Yankuang Group”), the controlling shareholder of theCompany, informed the Company that Yankuang Group and Shandong Energy GroupCo., Ltd. (山東能源集團有限公司) ("Shandong Energy") are planning for strategicreorganization. The relevant reorganization plan is not yet finalised and is subject toapprovals from relevant authorities after itsfinalisation.

https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0712/2020071200011.pdf

With the looming merger the cake gets even bigger for White.