Hubei Yihua subsidiary 298 million selling coal shares

NetEase Financial June 29, Hubei Yi-The announcement announced today evening, in order to cooperate with Shanxi coal mine enterprises mergers and acquisitions, the company's subsidiary of Taiyuan Special High-tech Development Co., Ltd. (hereinafter referred to as "extraordinary High-tech") and Shanxi Coal import and Export Group Co.　　Extraordinary High-tech to 298 million yuan to sell its holdings of Shanxi Qinshui Deer Taishan Coal Industry Co., Ltd. (hereinafter referred to as "deer Taishan coal Industry") assets.　　Hubei province, said that the holding subsidiary of the sale of shares, mainly based on the Shanxi provincial government issued the relevant coal mine integration policy, in line with the Shanxi provincial people's government to promote the merger and reorganization of coal enterprises in the province.　　According to the public information of this transaction, deer Taishan coal industry is an extraordinary High-tech wholly-owned subsidiary, the special High-tech department Hubei Yi-holding subsidiary, of which, Hubei Yi-owned 51% of extraordinary High-tech shares, Shanxi Yufeng Railway Construction Investment Co., Ltd. (hereinafter referred to as "Yufeng Railway") holds an extraordinary High-tech 49% of the shares. The transfer of mining rights are the main assets of deer Taishan coal industry, it is reported that the mining certificate was issued on December 28, 2006 by the Department of Land and Resources of Shanxi Province, mining area of 4.7 square kilometers. Mining method for underground mining, production capacity of 300,000 tons of coal.　　As of now, the coal mine is still in the construction period. Hubei Yi said, the transfer of deer Taishan coal assets of the book value of 264 million yuan, the transfer price of 2.98 yuan, through this transfer, Hubei Yi-holding subsidiary of the extraordinary High-tech will receive transfer of 33.64 million yuan.