328 million yuan acquisition of 50% shares of the Guangdong shipping

China Sea Development (600026) announcement, the company has signed the "about Guangzhou Development Shipping Co., Ltd. on 16th with Guangzhou Development Coal Investment Co., Ltd.", to 328 million yuan to the price of Guangdong Coal investment to buy Guangzhou Development Shipping Co., Ltd. 50% equity. According to the agreement on the transfer of shares, after the transfer of equity, the company and the Guangdong Coal investment will hold 50% of the shares of the Guangdong shipping.　　In order to promote the development of Guangdong, the same day, the company also with the Guangdong Coal Investment signed the joint venture agreement, according to the agreement of the transport capacity of Guangdong should reach more than 60% of the demand for Guangzhou's holding capacity. GF Shipping revenue for the first half of this year 9,719 yuan 730,000 yuan, net profit of RMB 9.9089 million yuan. In the first half of 2010, Guangdong Shipping completed 900,000 tons of freight.