On the 11th, 19, Mei Yan Jixiang (600868) announced that the company decided to convert all the assets of the Bicun Hydropower Station and the Batou Hydropower Station as of December 31, 2014, in order to transform the enterprise management mechanism and enhance the autonomy and competitiveness of the enterprise. Established a wholly-owned subsidiary as a capital contribution.
Bingcun Hydropower Station was established in September 2005, and its subsidiary is named as “Meizhou Bingcun Hydropower Co., Ltd.†with its registered capital of 218.19 million yuan. The physical assets of this investment are all assets of the company's Bingcun Hydropower Station, mainly including current assets, fixed assets and construction in progress. This subsidiary is mainly engaged in hydropower generation.
The Batou Hydropower Station was established in September 2005, and its subsidiary is named as “Meizhou Batou Hydropower Co., Ltd.†with a registered capital of RMB 126.94 million. The name and registered capital of the proposed subsidiary are to be registered by the company. Final registration is subject to approval. The physical assets of this investment are all assets of the Company's Batou Hydropower Station, including current assets, fixed assets and construction in progress. This subsidiary intends to invest in physical assets and hold 100% equity, mainly engaged in hydropower generation.
Mei Yan Jixiang said that this investment has no significant impact on the future financial status and operating results of listed companies. Subsidiaries can independently assume limited liability, take advantage of independent legal persons, and reduce the risks that may arise to the company during operations.
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