Inner Mongolia nengjian transferred 26.91% equity of Inner Mongolia Helin power

Inner Mongolia Energy Construction Co., Ltd. announced recently that on November 11, 2019, the company signed an equity cooperation agreement with Inner Mongolia Mengdian Huaneng Thermal Power Co., Ltd. and huaikuang West Coal Mine Investment Management Co., Ltd. on the content of which Inner Mongolia Huadian and the company (transferor) agreed to transfer 26.91% equity of Inner Mongolia Helin Power Generation Co., Ltd. to the west coal mine (transferee). The transferee paid the registered capital to the target company at the price of RMB 183 million and obtained 26.91% of the target company's equity. After the equity transfer is completed, the registered capital of the target company remains unchanged at RMB 680 million, and the equity structure is changed to: 51.03% in Inner Mongolia Huadian, 26.91% in western coal mine and 22.06% in the company. According to the announcement, after the equity transfer, CLP and western coal mine of Inner Mongolia implemented different proportion of capital increase to the target company, and the company will no longer increase capital. After completing the equity transfer and capital increase under the equity cooperation agreement, the company will hold 13% of the target company's equity. According to the announcement, the target company is a joint venture company established by Inner Mongolia Huadian and the company, with registered capital of 680 million yuan, subscribed capital of 347 million yuan by Inner Mongolia Huadian, holding 51% of the shares, subscribed capital of 333 million yuan by the company, holding 49% of the shares. The actual capital contribution of Inner Mongolia Huadian is 347 million yuan, the actual capital contribution of the company is 150 million yuan, and the remaining 183 million yuan has not been paid. According to the announcement of the target company has a 2 × 660MW project of Helin Power Generation Co., Ltd. the construction scale of the project is 2 × 660MW supercritical indirect air cooling unit, which is equipped with 2 × 2250t / h Supercritical Once through coal-fired boiler, and the simultaneous construction of the delisting device. Meanwhile, the limestone gypsum wet method is used for delisting. At present, two units of phase I of Helin power generation have been put into operation in August 2019, and no income has been generated as of December 31, 2018, with a net loss of 1880.50 yuan.