Taishan oil-related transactions drop 100 million yuan

Taishan Oil (000554) today, the Board of Directors considered the adoption of the company's "on 2010 daily related transactions of the motion", the 2010 is expected to be the year with the associated Party of China Petrochemical Oil purchase amount of 2.4 billion yuan, accounting for the same proportion of 82% of the transaction.　　This is the May 12 "about 2010 annual daily related transaction proposal" in the 2009 annual shareholder meeting was rejected, the company again proposed the relevant transaction motion.　　Contrast found that the relevant transaction motion and the rejected related transaction bill is not very different, in addition to the associated turnover of 2.5 billion yuan modified to 2.4 billion yuan, pricing policy, pricing basis and was rejected the bill no difference. For Taishan Oil, the passage of the new linked transaction bill will still face a difficult test. According to the announcement, the company will convene a provisional shareholder meeting at the company on September 17 to consider the motion and provide a network polling platform. The characteristics of the related transaction determines that Sinopec, as the largest shareholder, will avoid voting on this motion at the shareholders ' meeting, and the fate of the bill can be grasped in the hands of the large and medium investors.　　At the last annual meeting of shareholders, it was the small and medium shareholders who exercised their voting rights, and the motion was negative by 89.97%, which led to the eventual resolution of the bill. The company also said that since the date of the General Assembly resolution has ceased all the oil with Sinopec procurement, oil procurement all for the market procurement, from May 12 to August 31 in the market to purchase oil amount of 678.4872 million yuan. But in the bill, the company reiterated the need to deal with Sinopec. The company said that the oil business for the company's main business, the domestic bulk oil suppliers only Sinopec, PetroChina two, and because of configuration planning, supply assurance, transportation costs and other reasons, the company most of the oil products are purchased from the parent company Sinopec, linked transactions can not be avoided, there is the necessity of its existence　　Affiliated transactions since 2000 has continued, the Department of the company to maintain normal operations must move, such as the company to stop this associated oil procurement, it will be difficult to continue to obtain quality, quantity guaranteed in the market of refined oil supply, the procurement cost of refined oil will be increased. A person who does not want to be named investment agency said that the special industry, special background of the related transactions is normal, but also inevitable, investors should be understood, the last associated transaction was not the main reason is that the company has not been able to communicate with small and medium investors, properly handle the relationship with investors, failed to obtain