Qingdao Gold Wang Shinqing said its equity transfer does not exist to evade the compensation problem

May 27 Today, Qingdao Gold King issued a notice to clarify, said the media explosion of its share transfer Ming earned dark loss is not true report, while explaining the annual report data inconsistencies and oil and gas projects. May 24, 2010, the Public Securities newspaper published the "Qingdao Golden King Equity transfer Ming earned dark losses," said: Qingdao King Wang Applied Chemical Co., Ltd. in 2007 to buy Zhang Deliang Holdings Lijin Chemical Co., Ltd. 40% Equity, 2009 will hold the Lijin Chemical Co., Ltd. 40% Equity transfer to Zhang Deliang, in the end is a premium repurchase or avoid compensation?　　"Qingdao Golden King Equity transfer Ming earned dark loss" a article also said: Qingdao King Wang Annual report data contradictions; In addition, Qingdao King's Oil and gas project has been not heard. Qingdao Gold King in the notice to clarify the issue of the transfer of shares in Qingdao Gold King in the announcement clarified that the company in April 2007 to 36 million yuan to acquire the Lijin company 40% Equity, according to the contract, the transfer of equity after the completion of Jolizinson in three years did not complete the corresponding after-tax profit index, In the amount of outstanding profit per year, Lijin has the right to make up the amount of the outstanding profit by 30 million margin, if the margin is insufficient to make up for the amount of the outstanding profits, the assignor will take its own property to Lijin to make up the outstanding profits.　　Lijin from 2007 to 2009 respectively realized 10.02 million yuan, 3.71 million yuan,-6.25 million yuan net profit. As a result of the global financial crisis, global commodity prices plunged in 2008, leading to a sharp fall in the price of Lijin raw materials and a sharp loss in its own refining business. At the same time, its investment in the Oasis Oil and Gas development project, in April 2007, Sinopec Shengli oilfield, Oasis daming Oil and Gas Development Co., Ltd. (hereinafter referred to as the Oasis) at about $3300 per ton purchase, as the global crude oil prices fell, the price of Oasis in December 2008 fell to about 2500 yuan per ton　　Far below market prices, unable to continue to invest in order to achieve the expected size and profit, resulting in a sharp decline in Lijin from 2008 to 2009.　　With the improvement of the global financial crisis, Lijin and fountain Daming began to communicate many times in May 2009, asking it to restore the purchase price to the original $3300 per ton, but because of the monopoly of the oil industry, so far no effect. During this period, the company actively and Lijin the actual control of the Zhang Deliang has conducted a number of communication and negotiations. The company based on the above reasons, as well as Lijin in the future sustained loss of the situation and Zhang Deliang to reach an understanding. According to Shandong Hui de Accountant to Lijin 2009 Annual data Audit data (in which the 2007 acquisition in accordance with the contract of 30 million yuan margin has been used as a Lijin other should be paid, not to make up for the outstanding profit data), Lijin the end of 2009 net worth of 68.89 million yuan, in accordance with the company held 40% Equity translation Interest27.56 million Yuan. If the 30 million-yuan margin is used to make up the outstanding profits, the company holds 40% equity conversion rights and interests should be 39.55 million yuan.　　After consultation between the two sides, finally on this basis, determine the transfer price of 39 million yuan will be held by the company's 40% stake sold to Zhang Deliang.　　The company believes that in the Lijin of the stake sale, the company, without prejudice to the interests of small and medium shareholders, the above shares sold, to maintain the interests of listed companies, there is no previously reported evasion of compensation matters. Qingdao Gold King in the announcement to clarify the issue of the annual report data contradictory matters Qingdao Gold King in the announcement clarified that, according to the 2007 annual Report disclosure related request, the company in 2007 reported to participate in the company Lijin the total January-December net profit data carries on the disclosure to 10.02 million yuan; 2008 Annual Report preparation requirements will be the holding and equity company's performance year-on-year change, the proportion of the impact of the combined net profit disclosure, the company in the disclosure of Lijin 2007 net profit data in accordance with the contract agreed to enjoy the shares Lijin after the May 2007-December net profit data were disclosed to 5.1911 million yuan, and has carried on the year-on-year change, to the consolidated net profit influence proportion disclosure.　　At the same time, the company 2007, 2008 Annual report in the notes of the financial statements in accordance with the company's shareholding Lijin after the May 2007-December Lijin to realize the net profit of 5.1911 million yuan of the caliber of the conversion of Lijin Sen investment profit and loss was disclosed. Qingdao Gold King in the announcement to clarify the question about the oil and gas project Qingdao Gold King in the announcement clarified that, in April 2007, when the company acquired Lijin, according to the relevant requirements of the Lijin investment in the Oasis Project for a detailed disclosure, and based on the 2007 Lijin Sen and Gan Ming signed the contract was disclosed. In the subsequent annual report disclosure, companies also in accordance with the detailed requirements of the annual report disclosure, the company's equity companies Lijin business data and the proportion of investment in the company's annual data on the impact of the disclosure, the Oasis project as a Lijin investment project, its operating data has also been reflected in the Lijin data. There is no information in the media coverage of the project.