Coal Trading Business
- On 31 August 2012, the Acquisition of around 71% of the entire issued share capital of Zhan Sheng Investment Limited was completed. Through this acquisition, the Group will inturn, own 55% of Hubei Tiegang Trading Company Ltd (“Hubei Tiegang”).
- Hubei Tiegang, a company with limited liability established in the PRC, is principally engaged in trading of coal as well as coal transportation business in the Northwest regions of PRC.
- The acquisition shall enhance the Group’s geographical coverage and strategic position in the industry. As the business of Hubei Tiegang extends from coal trading to coal transportation management in the Northwest region of PRC, the acquisition will create synergy to the Group’s existing coal trading business.