Changed 400 million yuan to invest in coal gangue power plant

BEIJING-Energy Thermoelectric (600578, closing price 8.24 Yuan) today (May 29) disclosed that the Company intends to adjust its 2009 Non-public offerings due to changes in the external environment and national policies, including the benchmark date for pricing and the use of fund-raising.　　Among them, the original scheme used to repay bank loans of 400 million yuan will be used to invest in Youyu 2X300MW gangue power Plant project. Data show that September 26, 2009, Beijing-Thermoelectricity has issued a notice of directional issuance, the proposed non-public offering of not more than 90 million shares, after deducting the issue of the amount of funds collected after the net no more than 800 million yuan, the issue of the object is not more than 10 of the specific object.　　The funds are mainly used in Inner Mongolia, Beijing-Thailand Power Generation Co., Ltd. Chishui 2x300mw gangue Power Plant project, Shijingshan cogeneration plant South Line heating System renovation project, Shijingshan Thermal plant dust Removal system environmental protection and energy-saving renovation project, repayment of bank loans and replenishment of the company's liquidity. On October 21, the company also fine-tuned the program, the company's actual control of the Beijing Group announced that the proposed subscription is not less than the total amount of the private offering of 20% shares.　　The following January 16, 2010, the Beijing-Power thermoelectric general Meeting approved the additional scheme. However, as a result of the recent big stock market adjustment, Beijing can heat and electricity shares also plummeted, from the beginning of April this year to the close of 10 yuan to the Friday closing of the 8.24 Yuan.　　As a result, Beijing-thermoelectricity will change the price of the issued prices to be no less than 90% of the average of 20 trading days before the announcement. In addition, Beijing-Thermoelectricity also plans to adjust the original plan to raise investment projects, the original scheme used to repay bank loans 400 million yuan to raise funds for investment Youyu 2X300MW Gangue power Plant project.　　This is also in addition to Chishui 2X300MW Gangue Power Plant project, Beijing can thermoelectric another large-scale coal gangue power plant project, showing the company's prospects for the industry is extremely optimistic. Under the new plan, Beijing-Thermoelectricity will acquire the project in the form of a stake in the acquisition of the Youyu Power plant project.　　It is understood that Shanxi Jing Yu Power Generation Co., Ltd. (hereinafter referred to as Jing Yu Power Generation) was established in July 25, 2008, is responsible for the construction and operation of Shanxi Youyu 2X300MW coal gangue power Plant project. And Beijing-Yu power generation by the Beijing Energy Investment (Group) Co., Ltd., the International Energy Co., Ltd. in accordance with 51%, 49% of the proportion of joint investment formation. Registered capital of 600 million yuan, has now completed the initial payment of 150 million yuan, of which Beijing Energy Investment (Group) Co., Ltd. to complete the investment amount of 76.5 million yuan.　　According to the assessment, Beijing-thermoelectricity will be 79.8792 million yuan to raise funds to acquire the above Beijing-Yu power 51% equity, and according to the project construction progress, to collect funds to complete follow-up investment. Company said that the project has started construction in April 2010, is expected to be formally put into operation at the end of 2011, to build two 300,000-kilowatt domestic subcritical circulating fluidized bed Air cooling unit, with coal gangue and washing coal as fuel, the use of direct air cooling, electrostatic bag dust, two-class desulfurization technology, Project dynamic total investment about2.88 billion yuan. In the year after the completion of electricity generation of about 3.3 Billion-kilowatt, to 220,000 kv voltage level access to Shanxi power grid; The project estimated unit annual utilization hours 5,500 hours, net capital profit margin 13.21%, own capital investment payback period 8.43 years.