Gelonghui on December 6丨Jizhong Energy (000937.SZ) announced that according to Hebei Province's 2017 coal mine closure plan (production capacity withdrawal), Hebei Province's 2018 coal mine closure plan (capacity withdrawal), and the environmental policy requirements of the Zhangjiakou region, Guyuan Jinniu Energy Co., Ltd. (“Guyuan Jinniu”), a wholly-owned subsidiary of Jizhong Energy Co., Ltd. (“Guyuan Jinniu”), have been listed as having removed production capacity and closed mines. Up to now, the closure and exit work of the two aforementioned mines and the placement of employees have all been completed.
Since Guyuan Jinniu no longer has actual business, in order to improve management efficiency and streamline management levels, the company plans to absorb and merge Guyuan Jinniu and transfer Guyuan Jinniu's assets and liabilities back to the company according to the book value after the audit. After the absorption and merger is completed, the company will cancel Guyuan Jinniu. Since Guyuan Jinniu is a wholly-owned subsidiary of the company, this merger will not affect the company's profit situation.