- Business
- Huscoke Holdings Limited (0704.HK), an investment holding company incorporated in Bermuda in 1991 and listed on the Stock Exchange of Hong Kong since 27 May 1991, principally engages in coke production, trading, and export in the People's Republic of China; it operates through three segments including coke trading, which involves purchases and sales of coke and coal; coal-related ancillary activities, encompassing washing of raw coal into refined coal for sale and further processing along with sale of electricity and heat generated as by-products; and coke production, which processes refined coal into coke for sales and markets coke by-products. Through subsidiaries such as GRG Huscoke (Shan Xi) Ltd, the company produces and trades coke, tar, crude benzene, and sulfur; it has collaborated with Shanxi Jinyan Energy Technology Company Limited on a 5 million tons per annum coke production project featuring tamping and top-loading coke furnaces; additionally, Shanxi Golden Rock Rich Hydrogen Energy Co., Ltd converts coke oven gas into 250,000 tons of liquefied natural gas per annum, 800,000 tons of synthetic ammonia per annum, 1,400,000 tons of urea per annum, and other fine chemical products, with production technologies meeting national environmental protection standards. Headquartered at Room 3604-05, 36/F., Tower One, Lippo Centre, 89 Queensway, Admiralty, Hong Kong, with its registered office in Hamilton, Bermuda, the company primarily serves steel enterprises and other industrial customers in the PRC, where all revenue and non-current assets are located. Recent developments include the acquisition of Shanxi Jinyan Energy Jiarun Co., Ltd in January 2023, with Shanxi Jinyan Energy Technology completing the equity transfer of 90% interest to Shanxi Huscoke International Energy, a new subsidiary, in March 2023; ongoing construction of supporting facilities for new coking ovens, with 90% completion and anticipated full operation by February 2026 pending partner financing; progress toward settling loans with China Cinda (HK) Asset Management Co., Limited via a consensus on settlement terms awaiting execution; and suspended coal-related ancillary operations since 2021 alongside shutdown of 4.3-meter coking furnaces since October 2021, contributing to a reported loss of HK$29.5 million for the year ended 31 March 2025.