Huadian Energy 400 million buy all-electric Xin Bao

Huadian Energy announced today, the proposed investment of 389 million yuan, the acquisition of Asian electricity in Singapore and Qiqihar Xin Bao thermoelectricity held by the Heilongjiang sub-electric Xin Bao 100% equity. Data show that the company was founded on May 6, 1998, the registered capital of 116 million yuan, Asian power and Xin Bao thermoelectric respectively holding 51% and 49% of the shares, February 2002 registered capital increased to 126 million yuan.　　The audit data show that the total assets of the December 31, 2009 is 539.59 million yuan, the total liability is 266.6 million yuan, net assets of 272.99 million yuan. There are data shows that the existing installed capacity of the electric power of the Qiqihar 225MW, a total of 9 units 25MW heating units, is the largest central heating enterprises in Hulan Ergi area, heating area of 4.99 million square meters, annual production capacity of about 1.3 Billion-kilowatt.　　In addition, is also preparing a 300MW cogeneration unit. According to the notice, the value of total shareholder's equity is 476.14 million yuan and the value added rate is 74.42% by using the income method to assess the benchmark date of December 31, 2009. In accordance with the acquisition Agreement, Asia Power and Xin Bao Thermoelectric 2009 profit distribution, respectively, 48.2 million and 46.31 million, and then according to the investment of Huadian energy can be calculated, the acquisition price on the basis of valuation value of 7.77 million yuan. The announcement noted that the 9.77 million yuan in the premium section was for Asian electricity gain.　　After the implementation of the acquisition, Huadian Energy will continue to retain the existing CLP Xin Bao personnel. The company said that the acquisition is conducive to seize the heating market Qiqihar and promote the company to seize the city southwest of the new cogeneration project work, and then realize the company in Qiqihar region power generation resources integration strategic layout. Sub-electric Xin Bao's profitability is strong, acquisition can add new profit growth point.　　Data show that the 2009-year sub-electric Xin Bao's main business income of 568.04 million yuan, net profit of 63.92 million yuan.　　The company also released the first half of the performance forecast, due to coal prices, the key contract coal delivery rate is not enough and the unit utilization hour year-on-year decline, is expected to lose about 148 million yuan in the first half of the year, the company lost 174 million yuan in the same period. Analysis of the market, Huadian Energy last year, the first loss, and recently shut down two small thermal power units, the acquisition will help the company 2010 to improve performance to win losses.