Liaoning Hongyang Energy Investment Co., Ltd. (600758)

Liaoning Hongyang Energy Investment Co., Ltd. (600758)

At the end of 2006, the company carried out a major asset restructuring. Shenyang Coal Industry Group, the controlling shareholder, replaced all assets and liabilities of the company with 100% equity of Hongyang thermal power company, which changed the main business of the company into thermal power generation, urban heating and steam supply. Hongyang thermal power, as the only central heating enterprise in lighthouse City, has a heating area of nearly 1.9 million square meters in 2006 and will grow at an annual rate of about 200000 square meters in the future. In recent years, the company has strengthened equipment maintenance, technical transformation and process reform, and actively introduced new technologies such as coal slurry and coal water slurry. The monthly average on grid power has been maintained at a good level, and the running hours of single unit are among the best of the similar thermal power units in the Province.

Liaoning Jindi Construction Group Co., Ltd. is a joint-stock enterprise approved by Liaoning Provincial Commission of system reform in March 1993 and established by means of social directional fund-raising. On September 25, 1996, it was approved by China Securities Regulatory Commission to issue 20 million RMB ordinary shares to the public. Among them, 18.5276 million shares were issued to the public, 1.4724 million shares of internal employee shares were listed together with the issuance quota, and the total share capital after the issuance was 79.8776 million shares. On October 29, 1996, the company's shares were officially listed and traded in Shanghai Stock Exchange. According to the resolution of the 1996 annual meeting of shareholders held on May 7, 1997, the company has implemented the distribution plan of distributing 6 bonus shares for every 10 shares to all shareholders and converting the capital accumulation fund into 4 additional shares. After the implementation of the plan, the total share capital was 159755200 shares, and the change was registered in Liaoning Provincial Administration for Industry and commerce. According to the regulations of the CSRC's Zheng Jian FA Zi [1996] No. 237 document, by October 9, 1999, the issuance of new shares of the company had expired for three years. According to the arrangement of Shanghai Stock Exchange, on October 12, 1999, the company's 21595200 shares of internal staff shares (accounting for 13% of the company's total share capital) were approved to be listed and circulated in Shanghai Stock Exchange. So far, the total number of circulating shares of the company is 61.5952 million, accounting for 38.56% of the total share capital of the company. In July 2006, the company signed the asset replacement agreement with Shenyang Coal Industry (Group) Co., Ltd. (hereinafter referred to as Shenyang Coal Group), the largest shareholder of the company. The company replaced 100% equity of Dengta Hongyang Thermal Power Co., Ltd. (hereinafter referred to as Hongyang Thermal Power Co., Ltd.) with all assets and part of liabilities legally owned by the company. The major asset replacement plan was examined and approved by China Securities Regulatory Commission (zjsz [2006] No. 253) and the first extraordinary general meeting of shareholders in 2006. The asset replacement has gone through the property handover procedures on December 31, 2006.

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