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Guangdong Jinma Tourism Group Co., Ltd. (000602)
Since the company was acquired by Luneng Group in 2001, it has mainly engaged in power communication business through Shandong Yingda Technology Co., Ltd., which holds 62% of the shares. In July 2007, the company acquired 40% equity of Meishan Qixing Aluminum Co., Ltd. held by Luneng Jinbei for 112 million yuan to enter the aluminum industry. Meishan aluminum's main asset is a 300 kA 140000 ton electrolytic aluminum production line. In June, the first batch of electrolyzers were successfully electrified and put into operation. At the end of September, all 168 electrolyzers were electrified and put into operation. In the future, the major shareholders are expected to further integrate their assets. Luneng Jinbei also holds 25% of the equity of Meishan aluminum. In order to avoid horizontal competition, the remaining 25% of the equity of Meishan aluminum is expected to be transferred to the company.
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