Ning Cheng Hongda Mining Listing Price Reduction

Ning Cheng Hongda Mining Listing Price Reduction

The listing notice of the Beijing Property Rights Exchange shows that 100% of the shares of Ningcheng Hongda Mining Co., Ltd. are being listed and transferred, and the listed price is 141.51782 million yuan. This project was first listed in November 2014. The listing price was 157,424,400 yuan. The listed price was slightly lower than the previous time.

Hongda Mining was established in 2003 with a registered capital of 90 million yuan. Its main business is iron ore mining and selection. At present, China No. 22 Metallurgical Group Co., Ltd. holds 54% shares, and Hebei Iron and Steel Group Mining Co., Ltd. holds 46% of the shares. In terms of financial data, Hongda Mining achieved operating revenue of RMB 175,061,500 in 2014, and achieved a net profit of RMB 45,612,800. In the first half of this year, operating income was not realized, and net profit loss was 30,723,200 yuan. Taking April 30, 2014 as the base date of assessment, the total book value of assets was 66,537,900 yuan; the net asset book value was 156,699,000 yuan and the assessment value was 1,572,424,300 yuan.

The transferor requires that the intended transferee undertakes in writing that if the target company fails to repay the debt owed to the transferor for a total of 261.9757 million yuan within one year after the equity transaction contract takes effect (which is owed to Hebei Iron and Steel Group Mining Co., Ltd. Twelve Metallurgical Group Co., Ltd. 141 million yuan), the transferee to pay on behalf of. The transferor requires that the intended transferee is an enterprise legal entity that is legally registered and continues to exist in China. This project does not accept the consortium transfer, and the intended transferee may not participate in the transfer by anonymous entrustment.

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