Golden Horse Group's major asset reorganization approved by SFC

NetEase Finance December 30 News Gold Horse Group announced the evening, the company issued shares to purchase assets and major asset sales and related transactions by the SFC have the conditions to pass. According to the Golden Horse group announced earlier, Luneng Group to the company to the non-public issue of shares as a pay for the purchase of Luneng group owned by the coal power business-related assets, and the company holds the Meishan Venus Aluminum Co., Ltd. 40% of the shares through the equity exchange listing the way to sell to Shanxi Luneng Shanxi Aluminum Co., Ltd.　　If the reorganization is completed, the Gold Horse Group will exit the continuous development of electrolytic aluminum business, and a good development prospects and strong profitability of the Power coal mine project will be injected into the listed companies. It is reported that the gold and horse group to buy the assets for Luneng Group held Shanxi Luneng Bend Electric Coal Development Limited liability company 70% of the equity, Shanxi Luneng Bend Power Generation Co., Ltd. 60% of the equity and Shanxi Rujin Wang song Power Generation Limited liability company 75% of the equity. The estimated value of this part of the assets is 5.03 billion yuan. At the same time, Luneng group's share of the gold Horse group increased from 29.63% to 79.02%.　　According to the announcement, the price of this issue is 14.22 yuan/share, the number of shares proposed to be issued is 353.8 million shares. Company chairman Wang Zhihua previously told the media that the company's existing main business profitability is weak, the last three years and the first quarter of this year's net profit and earnings per share continued to decline, and the proposed distribution of shares in the way to purchase coal power assets in line with national Industrial policy guidance, enjoy policy support, with strong profitability and sustainable development capacity.　　By selling electrolytic aluminum business, stripping it of the main body of the listed company, and injecting the quality coal power assets into the company, it can greatly improve the quality of the company's assets. Some market analysts believe that this time through the meandering electric coal, meandering power generation and Wang song Power generation of the equity injected into the Golden Horse Group, Luneng group can effectively integrate its holdings of Shanxi Province coal and thermal resources. And according to the long-term development strategy of Luneng Group, the Golden Horse Group will be built as the integrated platform of the following coal and electricity assets, and the development space of coal and electricity industry can be upgraded through various financing channels, which lays the foundation for the effective integration of coal and electricity resources and the whole listing of coal power industry.