Increasing capital acquisition and integrating Xinjiang resources

New cast pipe (000778) notice, in order to more effectively realize the company's resources and business integration in Xinjiang region, November 17, the company and the Beijing Sino-Pacific Investment Co., Ltd. and Shanghai Kun-wing Investment Management Co., Ltd. will be able to expand the holdings of Xinjiang Jintexian and Mining Development Co., Ltd. 30% stake in Beijing to sign the relevant contract　　, the company invested 70 million yuan in the acquisition of the core to hold a peaceful mining 30% stake. Harmony Mining main ore sales business, the current legal possession of an iron ore mining rights, 31 prospecting rights, the right to prospecting covers an area of about 3000 square kilometers, mainly related to iron, copper, lead and zinc, coal and other mineral resources.　　As of December 31, 2009, the total assets of the mining industry is 57.3454 million yuan, the total liability of 3.7557 million yuan, net assets of 53.5897 million yuan. The company also recently and Xinjiang Sargent shares on the joint increase in capital restructuring xinxing new cast pipe Xinjiang Limited reached an agreement. The parties agree to cast pipe Xinjiang Company's existing 50 million yuan registered capital as the basis, the company and Xinjiang Sargent shares in the money to increase capital respectively. The company is divided into two period to increase the contribution of 285 million yuan, after the increase in the holding of the casting of Xinjiang equity ratio of 67%. Sargent shares in the two period of 165 million yuan, investment in the holding of the cast pipe in Xinjiang, the proportion of shares of 33%.　　After the completion of the investment, the registered capital of Xinjiang is changed to 500 million yuan. Company November 17 also with the Fuzhou Zhuo Sheng Investment Trading Co., Ltd. on the company by the Fuzhou Zho Shen Holding Sargent shares 10% stake in the signing of the "Equity transfer agreement." The deal will increase the company's stake in Sargent shares to 48% per cent.