Hubei Energy 188 million layout energy field

After backdoor three-ring shares (000883) earlier this year, Hubei Energy recently threw out several investment and cooperation programs.　　According to the company's series of investment plans, Hubei Energy is actively layout upstream resources industry and new energy fields. Extend upstream according to the announcement, in order to ensure the supply of coal, the three-ring shares wholly-owned subsidiary Hubei Energy Group Co., Ltd. to the upstream coal mining, transport and other links reasonable extension. Energy Limited will be based on the evaluation value, the Hubei provincial people's government state-owned Assets Supervision and administration committee and Hubei Han Electric Power Group Co., Ltd. held respectively 78.64% and 1.94% of Hubei Province Coal Investment Development Co. Prior to the takeover, Energy Limited held 19.42% per cent of the coal investment company. Upon completion of the acquisition, the coal investment company will become a wholly-owned subsidiary of Limited Energy.　　In order to reduce the debt ratio and enhance the development ability of coal Investment company, Hubei Energy will increase its capital by 80 million yuan. Hubei Energy is not satisfied with the upstream plot. December 2, Hubei Energy and Shaanxi Coal Chemical Group Co., Ltd. signed a strategic cooperation agreement. According to the agreement, Shanxi Coal group will Hubei energy as a strategic customer, from the second half of 2010 to supply the company's Ezhou power plant two coal, from 2011 to Hubei Energy Ezhou power Plant Two coal supply into the key contract scope; Shanxi Coal Group intends to take part in Ezhou power Plant two (2 600MW) and three (2　　1000MW) to establish a stable supply and demand partnership between the two sides, in principle, Shaanxi Coal group to Hubei Energy, Ezhou power plant to reach the III coal quantity of more than 1/3. While the new energy distribution is actively expanding in traditional energy sources, the three-ring shares are also actively laying new energy fields. On the same day, the bulletin showed that in order to actively seek new energy industry chain industry growth opportunities, cultivate new business growth point, promote the company's industrial upgrading, wholly-owned subsidiary Energy Limited United Beijing Long Electric Innovation Investment Management Co., Ltd., China Integrity Financial Advisory Co., Ltd. will jointly establish Hubei New Energy Venture Investment Co.　　and apply for state funds and Hubei provincial government supporting funds equity participation. In addition, in order to further reduce the financial costs and optimize the structure of debt, Hubei Energy also intends to issue no more than 1.5 billion medium-term bills, the issue period of not more than 5 years. The company also plans to set up the Changjiang property insurance company jointly with China National Power Corporation, Guo Dian Capital Holdings Limited, Wuhan Iron and Steel (group) corporation, China Power Engineering Consulting Group Corporation, Hubei United Development Investment Group Co., Ltd. to seize the potential investment opportunities of the financial industry in Hubei Province. The company's cash contribution does not exceed 200 million yuan, the proportion of total equity is not higher than 20%.