China Branch Ying WA 45 million expands oilfield development

Gu Xin China (600110) Bulletin, the company's wholly-owned subsidiary Songyuan Jinhai Industrial Co., Ltd. invested 45 million yuan in the acquisition of Shanghai with Investment Co., Ltd. held the Beijing World Novi Ted Investment Consulting Co., Ltd. 100% of the equity. The bid of Beijing World Novi Ted Investment Consulting Co., Ltd. July 10, 2004 and PetroChina Jilin Oil Field Branch signed the "Cooperative Development Dry 122 Oilfield Block contract", the project cooperation period of 20 years.　　According to the contract, the oil produced by the oil field in the contract area from the date of commercial production shall be distributed in the proportion of 10 years prior to the cooperation between the company and the 8:2 of PetroChina Jilin, and the profit should be distributed in 6:4. The announcement that the acquisition can further strengthen the company in the oil collection, development industry investment, enhance the company's polymer materials, wire and cable industry market competitiveness, and further develop the company power cable and oil cables and other products of the city often announced that Songyuan Industrial Co., Ltd. registered capital of 20 million yuan, Holding a joint venture with PetroChina Jilin Beijing Source Oil Development Co., Ltd. 50% of the equity. The company is mainly engaged in oil field development and crude oil production, 2008 to achieve sales revenue of 219.8236 million yuan, net profit of 34.0826 million yuan.