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Xishan Coal and Electricity announced that the company plans to jointly increase capital with Shanxi Coking Coal Group Co., Ltd., a controlling shareholder, to Shanxi Xishan Thermal Power Co., Ltd., in which the company will increase its capital by RMB400 million with its own funds. After the completion of the capital increase, Xishan Coal Power has invested a total of RMB 839,200,000 in Xishan Thermal Power, accounting for 91.65% of the company's capital contribution. Shanxi Coking Coal has promised to increase capital by RMB 36.44 million in proportion to the cumulative investment of RMB 76.44 million, accounting for 8.35 of the company’s contribution ratio. %.
The announcement shows that the main business of Xishan Thermal Power is electric power development. The installed capacity is a 3×50MW turbogenerator set with a 3×240t/h circulating fluidized bed boiler. The design fuel is washed coal and gangue. In 2009, the company completed power generation of 798 million kwh, sales of 1.74 million kilojoules, operating revenue of 2.668214 million yuan, and net profit of -15.927 million yuan. As of September 30, 2010, Xishan Thermal Power had total assets of RMB 90.2087 million and net assets of RMB 355.8066 million. The company realized operating income of 187.3663 million yuan and net profit of -78.652 million yuan.
After this capital injection into Xishan Thermal Power, it will be used to return Xishan Thermal Power Bank's loan of RMB 210 million and reduce the financial expenses of RMB 12.19 million; the remaining RMB 226.44 million will be used to supplement Xishan Thermal Current Funding.
According to the announcement, Xishan Thermal Power is responsible for the heating task in Qianshan Mining Area. It is a people's livelihood project. Affected by the market and policies, it is difficult for power generation companies to get out of the difficult situation in the short term. The company’s capital increase will reduce the cost of using Xishan’s thermal power and help the company’s normal production and operation.
The announcement shows that the main business of Xishan Thermal Power is electric power development. The installed capacity is a 3×50MW turbogenerator set with a 3×240t/h circulating fluidized bed boiler. The design fuel is washed coal and gangue. In 2009, the company completed power generation of 798 million kwh, sales of 1.74 million kilojoules, operating revenue of 2.668214 million yuan, and net profit of -15.927 million yuan. As of September 30, 2010, Xishan Thermal Power had total assets of RMB 90.2087 million and net assets of RMB 355.8066 million. The company realized operating income of 187.3663 million yuan and net profit of -78.652 million yuan.
After this capital injection into Xishan Thermal Power, it will be used to return Xishan Thermal Power Bank's loan of RMB 210 million and reduce the financial expenses of RMB 12.19 million; the remaining RMB 226.44 million will be used to supplement Xishan Thermal Current Funding.
According to the announcement, Xishan Thermal Power is responsible for the heating task in Qianshan Mining Area. It is a people's livelihood project. Affected by the market and policies, it is difficult for power generation companies to get out of the difficult situation in the short term. The company’s capital increase will reduce the cost of using Xishan’s thermal power and help the company’s normal production and operation.
Dongguan Hengqing Electronics Co., Ltd. , http://www.chbluetooth.com