[Today's Guide]
> Hangzhou to bid for 2023 Asian Games, RMB100 bln investment to vitalize infrastructure and property
> MIIT to support efficient transformers, NDRC promotes major logistics projects
> Huayuan Property bought by CSF, Tonghua Dongbao Phar.'s connected parties to fully subscribe private placement...
> Guochuang Hi-tech Material and Blackcow Food resume trading, Shaoneng Group bought through secondary market acquisition to 5pct limit
[XFA Focus]
○Hangzhou to bid for 2023 Asian Games, RMB100 bln investment to vitalize infrastructure and property
------
XFA learnt that Hangzhou City has determined to bid for the 2023 Asian Games. Hangzhou Sports Bureau specially established the Asian Games Bidding Committee for it. The members of the Olympic Council of Asia (OCA) made a field inspection on Hangzhou last weekend. The OCA will announce the host city of the 2023 Asian Games in autumn at the soonest. Hangzhou is very likely to be the only bidding city and there are great chances of winning.
Comment: The total investment for the 2010 Guangzhou Asian Games reached more than 120 billion yuan. It is expected that the input by Hangzhou will be more than it in the future. Although the Asian Games lasts only 15 days, the preparatory work for the 15 days will be a long-term project to improve the overall appearance of the city. Local infrastructure and property industries will be boosted significantly. Hangzhou Iron ＆ Steel Co., Ltd. (600126.SH) is the only large steel complex in Zhejiang Province with the State-owned Assets Supervision and Administration Commission of the People's Government of Zhejiang Province as the actual controller. Zhejiang Southeast Space Frame Co., Ltd. (002135.SZ) and Hangxiao Steel Structure Co., Ltd. (600477.SH) are principally engaged in the production of steel structure products. Most of the property projects of Lander Real Estate Co., Ltd. (000558.SZ) and Hangzhou Binjiang Real Estate Group Co., Ltd. (002244.SZ) are located in Hangzhou.
○ Fujian SASAC to promote state-owned capital securitization
------
The State-owned Assets Supervision and Administration Commission of Fujian Province (Fujian SASAC) recently convened the meeting on the analysis of economic operation in the first half of 2015. Four enterprises, including Fujian Energy Group Co., Ltd., Fujian Electronics and Information (Group) Co., Ltd., Fujian Light and Textile Industrial (Holdings) Co., Ltd. and Fujian Motor Industry Group Co., Ltd., introduced the production and operation in the first half as well as major measures to promote stable growth and steady profits. The meeting required state-owned enterprises accelerating in transformation and upgrading, strengthening the leading of innovation and sparing more efforts in capital operation to promote the securitization of state-owned capital. The listed companies under the above state-owned enterprises include Fujian Funeng Co., Ltd. (600483.SH), Fujian Furi Electronics Co., Ltd. (600203.SH), Xiamen King Long Motor Group Co., Ltd. (600686.SH) and other A-share companies.
◆ Guangdong Guanghong Holdings Co., Ltd. (000529.SZ) announced trading suspension on Aug. 13 evening as its controlling shareholder is mulling matters on the mixed-ownership system reform. Its actual controller is the State-owned Assets Supervision and Administration Commission, the People's Government of Guangdong Province. Zhejiang Juhua Co., Ltd. (600160.SH) announced trading suspension for mulling significant matters. Its actual controller is the State-owned Assets Supervision and Administration Commission of the People's Government of Zhejiang Province. The substantial shareholder of Shanghai Waigaoqiao Free Trade Zone Development Co., Ltd. (600648.SH) proposes to change its name into an asset management company limited. Its actual controller is the State-owned Assets Supervision and Administration Commission of Pudong New Area.
[XFA Selection]
○ The central bank of China indicated on Aug. 13 morning that the correction of the deviation of about 3 percent in RMB exchange rate has been completed generally and RMB remains strong in the long term.
○ The A-share market continued to recover on Aug. 13 afternoon and more than 90 percent of individual stocks increased on closing hours.
○ The State Council issued opinions on promoting and accelerating the development of the financing guarantee industry, requiring the government playing a supportive role in the industry.
○ It is learnt that the Ministry of Industry and Information Technology will formulate the Action Plan on the Innovation and Development of Intelligent Hardware Industry. Industries as wearable devices and intelligent home furnishing are likely to be enhanced.
○ The China High Speed Railway Exhibition is held in Indonesia on Aug. 13. Chinese Ambassador to Indonesia indicated that China is confident to be a partner of Indonesia.
[Industry Information]
○ MIIT to promote industrial energy saving and consumption reducing, efficient transformers to play key role
------
The Ministry of Industry and Information Technology (MIIT), General Administration of Quality Supervision, Inspection and Quarantine and the National Development and Reform Commission jointly issued the energy efficiency improvement plan on the distribution transformers on Aug. 13, which proposes to initially complete the upgrading and renovation of distribution transformers with high energy consumption, and increase the proportion of the efficient distribution transformers in the in-grid operation by 14 percent at the end of 2017. The total efficient distribution transformers are expected to be 600 million KVA in 2017, which is equivalent to a reduction of carbon dioxide emission by 8.10 million tons. The plan also proposes to support the R＆D of the domestic amorphous metal material, which is the key raw material for transformers.
Comment: Based on the statistics, China's power transmission and distribution loss take up 6.6 percent of the total power generation nationwide, and the distribution transformer loss takes about a half of the total loss. In China's in-grid transformers across the country, the efficient distribution transformers only take up a proportion less than 8.5 percent with a relatively lagged industrial development and a huge potential in energy saving. In terms of listed companies, Shanghai Zhixin Electric Co., Ltd. (600517.SH) has the globally-advanced amorphous metal transformer technology, transformer performance and output. TBEA Co., Ltd. (600089.SH) announced an investment in a new energy-saving transformer R＆D and manufacturing project last December. Advanced Technology ＆ Materials Co., Ltd. (000969.SZ) is one of the minorities in the world can product amorphous strip.
○ NDRC promotes major logistics projects, popularity of e-commerce lays foundation for logistics development
------
The National Development and Reform Commission (NDRC) released a circular on speeding up the implementation of major projects in modern logistics on Aug. 13. It proposed to establish a modern logistics service system based on the logistics infrastructure network covering the major logistics nodes nationwide in 2020, which features reasonable layout, advanced technology, convenience and high efficiency, environment friendly, safety and order. The integration and internet-based operation ability of logistics enterprises are further enhanced, and the level of informatization and supply chain management see significant improvement, forming a batch of comprehensive logistics groups and logistics service brands with international competitiveness.
Comment: The improvement in logistics efficiency will help reduce the costs of various industries. The implementation of major modern logistics projects is of significance. In addition, the rapid popularity of the e-commerce also lays foundation for the development of logistics industry in the long run. Among the listed companies, the core business of Sinotrans Air Transportation Development Co., Ltd. (600270.SH) includes air freight agency and express business. The market expects the consolidation of Sinotrans Shipping Limited (00598.HK), the substantial shareholder of Sinotrans Air Transportation Development, and China Merchants Group. Relying on the international logistics service network and the B2B logistics e-commerce platform, Y.U.D. Yangtze River Investment Industry Co., Ltd. (600119.SH) conducts such businesses as international freight, public information platform, domestic express and urban freight.
[Announcement Interpretation]
○Huayuan Property bought by CSF
------
Huayuan Property Co., Ltd. (600743.SH) discloses that as of July 31, China Securities Finance Corporation Limited (CSF) directly held 57.86 million shares of the company, accounting for 3.18 percent of its total share capital; CSF ranked as its fifth largest shareholder. Meanwhile, 10 funds totally held 92.22 million shares of the company through CSF asset management plan, accounting for 5.07 percent of its total share capital.
○Tonghua Dongbao Phar.makes planning in monitoring treatment of diabetes with RMB1 bln, controlling shareholder, actual controller and etc. subscribe all private placement with premium
------
Tonghua Dongbao Pharmaceutical Co., Ltd. (600867.SH) plans to raise 1.04 billion yuan by issuing 46.00 million shares at 22.63 yuan per share through private placement to acquire 17.79 percent private equities ofBIONIME Corporation, construct diabetes chronic disease management platform and etc. Dongbao Industrial Group Company Limited (controlling shareholder of Tonghua Dongbao), Li Yikui (actual controller of the company), three senior management as well as Tonghua Jixiang Chuangyin Investment Management Center and Tonghua Jifa Zhiying Investment Management Center (two partnership enterprises invested by the company's two senior management) subscribe all private placement. Latest stock price of the company closes at 20.18 yuan per share.
Upon completion of the acquisition, the company will act as the general agent in Chinese mainland of all blood sugar monitoring products manufactured by BIONIME. The combination of BIONIME's blood sugar monitoring business with Tonghua Dongbao's manufacturing and sales ability concerning human insulin, which is the strongest in China, helps to complete core arrangement in the drug treatment and blood sugar monitoring ofdiabetes.
○Guochuang Hi-tech Material and Blackcow Food resume trading
------
Guochuang Hi-tech Industrial Group Company Limited, controlling shareholder of Hubei Guochuang Hi-tech Material Co., Ltd. (002377.SZ), plans to increase shareholding in the company at proper time within six months with no less than 20 million yuan; Blackcow Food Company Limited (002387.SZ) resumes trading with termination of its planning on acquisition. The company claims that it will actively seek for resource integration and explore profit growth points in the future.
○Shaoneng Group, Yangfan Holding and Welltech Automation bought through secondary market acquisition to 5pct limit
------
Hubei Yangfan Holding Co., Ltd. (600421.SH) announces that Hengshun Investment Co., Ltd., a subsidiary of Zhongtian Development Holding Group Co., Ltd., increased shareholding in the company by over 9.75 million shares from July 16 to Aug. 12, accounting for 4.99 percent of the total share capital. After that, Zhongtian Development totally holds 39.25 million shares of the company through its subsidiaries - Hengshun Investment and Tianji Investment Co., Ltd., accounting for 20.07 percent of the total share capital, exceeding the 20 percent equities held by the biggest shareholder and its person acting in concert of Yangfan Holding. But Yangfan Holding indicates that the action will not change the controlling shareholder and the actual controller of the company.
Guangdong Shaoneng Group Co., Ltd. (000601.SZ) announced that Qianhai Life Insurance Co., Ltd. has bought 54.04 million shares of the company from Aug. 12 to Aug.13, accounting for 5 percent of the total share capital. After that, Qianhai Life Insurance holds 162 million shares of the company, accounting for 15 percent of the total share capital, and it becomes the biggest shareholder of the company.
Shengji Equity Investment Fund has increased shareholding in Shanghai Welltech Automation Co., Ltd. (002058.SZ) with over 7.18 million shares at an average price of 17.76 yuan per share from July 15 to Aug. 13, accounting for 5.02 percent of the total share capital of the company. The shareholder of Shengji Equity Investment Fund is Jilin Agricultural Investment Development Co., Ltd., who purchased the shares through secondary market acquisition to the 5 percent limit for investment demands.
○Macrolink Real Estate to expand tourism business with RMB4.5 bln through private placement
------
Macrolink Real Estate Co., Ltd. (000620.SZ) proposes to raise 4.5 billion yuan by issuing 477 million shares at no less than 9.43 yuan per share through private placement from the controlling shareholders of the company and others. The proceeds will be invested in the company's holiday resorts and business center, etc. projects. After the completion, these projects will gain a net profit of 6,978 million yuan (within 25 years), 154 million yuan and 4,802 million yuan (in 25 years), respectively.
○Shouhang Resources Saving proposes RMB400 mln staff shareholding plan
------
Beijing Shouhang Resources Saving Co., Ltd. (002665.SZ) proposes to set up a staff shareholding plan of no more than 400 million yuan in capital scale, of which 133 million yuan is financed from employee and 267 million yuan is financed from institutions. For the financing from employee, major shareholders will guarantee an annual rate of return on investment of no less than 8 percent with their own assets.
○Three listed companies entailed impact of explosion in Tianjin
------
By the distributing time of this news, Tianjin Port Co., Ltd. (600717.SH) announces that the production and operation activities of the port are normal and the loss might be caused by the explosion is under evaluation now. Sinomach Automobile Co., Ltd. (600335.SH) also confirms by announcement that it has storage room in the explosion-affected area. Since the site has been strictly guarded, the company cannot conduct the statistical work on the damage of the vehicles, but will start the insurance claim procedures later on. Offshore Oil Engineering Co., Ltd. (600583.SH) announces that some of the glasses and facilities of its office buildings have been damaged.
[Financial Reports Express]
○Sinosun Technology proposes high share conversion
------
Sinosun Technology Co., Ltd. (300333.SZ) proposes a 20-for-10 conversion of capital surplus into shares in its semiyearly report, planning to bid for 63 percent equities of Funshion Online Technology Co., Ltd. Sichuan Zhongguang Lightning Protection Technologies Co., Ltd. (300414.SZ), Hubei Forbon Technology Co., Ltd. (300387.SZ) and Shanghai Huaming Intelligent Co., Ltd. (300462.SZ) propose a 10-for-10 conversion of capital surplus into shares in their semiyearly reports.
> Hangzhou to bid for 2023 Asian Games, RMB100 bln investment to vitalize infrastructure and property
> MIIT to support efficient transformers, NDRC promotes major logistics projects
> Huayuan Property bought by CSF, Tonghua Dongbao Phar.'s connected parties to fully subscribe private placement...
> Guochuang Hi-tech Material and Blackcow Food resume trading, Shaoneng Group bought through secondary market acquisition to 5pct limit
[XFA Focus]
○Hangzhou to bid for 2023 Asian Games, RMB100 bln investment to vitalize infrastructure and property
------
XFA learnt that Hangzhou City has determined to bid for the 2023 Asian Games. Hangzhou Sports Bureau specially established the Asian Games Bidding Committee for it. The members of the Olympic Council of Asia (OCA) made a field inspection on Hangzhou last weekend. The OCA will announce the host city of the 2023 Asian Games in autumn at the soonest. Hangzhou is very likely to be the only bidding city and there are great chances of winning.
Comment: The total investment for the 2010 Guangzhou Asian Games reached more than 120 billion yuan. It is expected that the input by Hangzhou will be more than it in the future. Although the Asian Games lasts only 15 days, the preparatory work for the 15 days will be a long-term project to improve the overall appearance of the city. Local infrastructure and property industries will be boosted significantly. Hangzhou Iron ＆ Steel Co., Ltd. (600126.SH) is the only large steel complex in Zhejiang Province with the State-owned Assets Supervision and Administration Commission of the People's Government of Zhejiang Province as the actual controller. Zhejiang Southeast Space Frame Co., Ltd. (002135.SZ) and Hangxiao Steel Structure Co., Ltd. (600477.SH) are principally engaged in the production of steel structure products. Most of the property projects of Lander Real Estate Co., Ltd. (000558.SZ) and Hangzhou Binjiang Real Estate Group Co., Ltd. (002244.SZ) are located in Hangzhou.
○ Fujian SASAC to promote state-owned capital securitization
------
The State-owned Assets Supervision and Administration Commission of Fujian Province (Fujian SASAC) recently convened the meeting on the analysis of economic operation in the first half of 2015. Four enterprises, including Fujian Energy Group Co., Ltd., Fujian Electronics and Information (Group) Co., Ltd., Fujian Light and Textile Industrial (Holdings) Co., Ltd. and Fujian Motor Industry Group Co., Ltd., introduced the production and operation in the first half as well as major measures to promote stable growth and steady profits. The meeting required state-owned enterprises accelerating in transformation and upgrading, strengthening the leading of innovation and sparing more efforts in capital operation to promote the securitization of state-owned capital. The listed companies under the above state-owned enterprises include Fujian Funeng Co., Ltd. (600483.SH), Fujian Furi Electronics Co., Ltd. (600203.SH), Xiamen King Long Motor Group Co., Ltd. (600686.SH) and other A-share companies.
◆ Guangdong Guanghong Holdings Co., Ltd. (000529.SZ) announced trading suspension on Aug. 13 evening as its controlling shareholder is mulling matters on the mixed-ownership system reform. Its actual controller is the State-owned Assets Supervision and Administration Commission, the People's Government of Guangdong Province. Zhejiang Juhua Co., Ltd. (600160.SH) announced trading suspension for mulling significant matters. Its actual controller is the State-owned Assets Supervision and Administration Commission of the People's Government of Zhejiang Province. The substantial shareholder of Shanghai Waigaoqiao Free Trade Zone Development Co., Ltd. (600648.SH) proposes to change its name into an asset management company limited. Its actual controller is the State-owned Assets Supervision and Administration Commission of Pudong New Area.
[XFA Selection]
○ The central bank of China indicated on Aug. 13 morning that the correction of the deviation of about 3 percent in RMB exchange rate has been completed generally and RMB remains strong in the long term.
○ The A-share market continued to recover on Aug. 13 afternoon and more than 90 percent of individual stocks increased on closing hours.
○ The State Council issued opinions on promoting and accelerating the development of the financing guarantee industry, requiring the government playing a supportive role in the industry.
○ It is learnt that the Ministry of Industry and Information Technology will formulate the Action Plan on the Innovation and Development of Intelligent Hardware Industry. Industries as wearable devices and intelligent home furnishing are likely to be enhanced.
○ The China High Speed Railway Exhibition is held in Indonesia on Aug. 13. Chinese Ambassador to Indonesia indicated that China is confident to be a partner of Indonesia.
[Industry Information]
○ MIIT to promote industrial energy saving and consumption reducing, efficient transformers to play key role
------
The Ministry of Industry and Information Technology (MIIT), General Administration of Quality Supervision, Inspection and Quarantine and the National Development and Reform Commission jointly issued the energy efficiency improvement plan on the distribution transformers on Aug. 13, which proposes to initially complete the upgrading and renovation of distribution transformers with high energy consumption, and increase the proportion of the efficient distribution transformers in the in-grid operation by 14 percent at the end of 2017. The total efficient distribution transformers are expected to be 600 million KVA in 2017, which is equivalent to a reduction of carbon dioxide emission by 8.10 million tons. The plan also proposes to support the R＆D of the domestic amorphous metal material, which is the key raw material for transformers.
Comment: Based on the statistics, China's power transmission and distribution loss take up 6.6 percent of the total power generation nationwide, and the distribution transformer loss takes about a half of the total loss. In China's in-grid transformers across the country, the efficient distribution transformers only take up a proportion less than 8.5 percent with a relatively lagged industrial development and a huge potential in energy saving. In terms of listed companies, Shanghai Zhixin Electric Co., Ltd. (600517.SH) has the globally-advanced amorphous metal transformer technology, transformer performance and output. TBEA Co., Ltd. (600089.SH) announced an investment in a new energy-saving transformer R＆D and manufacturing project last December. Advanced Technology ＆ Materials Co., Ltd. (000969.SZ) is one of the minorities in the world can product amorphous strip.
○ NDRC promotes major logistics projects, popularity of e-commerce lays foundation for logistics development
------
The National Development and Reform Commission (NDRC) released a circular on speeding up the implementation of major projects in modern logistics on Aug. 13. It proposed to establish a modern logistics service system based on the logistics infrastructure network covering the major logistics nodes nationwide in 2020, which features reasonable layout, advanced technology, convenience and high efficiency, environment friendly, safety and order. The integration and internet-based operation ability of logistics enterprises are further enhanced, and the level of informatization and supply chain management see significant improvement, forming a batch of comprehensive logistics groups and logistics service brands with international competitiveness.
Comment: The improvement in logistics efficiency will help reduce the costs of various industries. The implementation of major modern logistics projects is of significance. In addition, the rapid popularity of the e-commerce also lays foundation for the development of logistics industry in the long run. Among the listed companies, the core business of Sinotrans Air Transportation Development Co., Ltd. (600270.SH) includes air freight agency and express business. The market expects the consolidation of Sinotrans Shipping Limited (00598.HK), the substantial shareholder of Sinotrans Air Transportation Development, and China Merchants Group. Relying on the international logistics service network and the B2B logistics e-commerce platform, Y.U.D. Yangtze River Investment Industry Co., Ltd. (600119.SH) conducts such businesses as international freight, public information platform, domestic express and urban freight.
[Announcement Interpretation]
○Huayuan Property bought by CSF
------
Huayuan Property Co., Ltd. (600743.SH) discloses that as of July 31, China Securities Finance Corporation Limited (CSF) directly held 57.86 million shares of the company, accounting for 3.18 percent of its total share capital; CSF ranked as its fifth largest shareholder. Meanwhile, 10 funds totally held 92.22 million shares of the company through CSF asset management plan, accounting for 5.07 percent of its total share capital.
○Tonghua Dongbao Phar.makes planning in monitoring treatment of diabetes with RMB1 bln, controlling shareholder, actual controller and etc. subscribe all private placement with premium
------
Tonghua Dongbao Pharmaceutical Co., Ltd. (600867.SH) plans to raise 1.04 billion yuan by issuing 46.00 million shares at 22.63 yuan per share through private placement to acquire 17.79 percent private equities ofBIONIME Corporation, construct diabetes chronic disease management platform and etc. Dongbao Industrial Group Company Limited (controlling shareholder of Tonghua Dongbao), Li Yikui (actual controller of the company), three senior management as well as Tonghua Jixiang Chuangyin Investment Management Center and Tonghua Jifa Zhiying Investment Management Center (two partnership enterprises invested by the company's two senior management) subscribe all private placement. Latest stock price of the company closes at 20.18 yuan per share.
Upon completion of the acquisition, the company will act as the general agent in Chinese mainland of all blood sugar monitoring products manufactured by BIONIME. The combination of BIONIME's blood sugar monitoring business with Tonghua Dongbao's manufacturing and sales ability concerning human insulin, which is the strongest in China, helps to complete core arrangement in the drug treatment and blood sugar monitoring ofdiabetes.
○Guochuang Hi-tech Material and Blackcow Food resume trading
------
Guochuang Hi-tech Industrial Group Company Limited, controlling shareholder of Hubei Guochuang Hi-tech Material Co., Ltd. (002377.SZ), plans to increase shareholding in the company at proper time within six months with no less than 20 million yuan; Blackcow Food Company Limited (002387.SZ) resumes trading with termination of its planning on acquisition. The company claims that it will actively seek for resource integration and explore profit growth points in the future.
○Shaoneng Group, Yangfan Holding and Welltech Automation bought through secondary market acquisition to 5pct limit
------
Hubei Yangfan Holding Co., Ltd. (600421.SH) announces that Hengshun Investment Co., Ltd., a subsidiary of Zhongtian Development Holding Group Co., Ltd., increased shareholding in the company by over 9.75 million shares from July 16 to Aug. 12, accounting for 4.99 percent of the total share capital. After that, Zhongtian Development totally holds 39.25 million shares of the company through its subsidiaries - Hengshun Investment and Tianji Investment Co., Ltd., accounting for 20.07 percent of the total share capital, exceeding the 20 percent equities held by the biggest shareholder and its person acting in concert of Yangfan Holding. But Yangfan Holding indicates that the action will not change the controlling shareholder and the actual controller of the company.
Guangdong Shaoneng Group Co., Ltd. (000601.SZ) announced that Qianhai Life Insurance Co., Ltd. has bought 54.04 million shares of the company from Aug. 12 to Aug.13, accounting for 5 percent of the total share capital. After that, Qianhai Life Insurance holds 162 million shares of the company, accounting for 15 percent of the total share capital, and it becomes the biggest shareholder of the company.
Shengji Equity Investment Fund has increased shareholding in Shanghai Welltech Automation Co., Ltd. (002058.SZ) with over 7.18 million shares at an average price of 17.76 yuan per share from July 15 to Aug. 13, accounting for 5.02 percent of the total share capital of the company. The shareholder of Shengji Equity Investment Fund is Jilin Agricultural Investment Development Co., Ltd., who purchased the shares through secondary market acquisition to the 5 percent limit for investment demands.
○Macrolink Real Estate to expand tourism business with RMB4.5 bln through private placement
------
Macrolink Real Estate Co., Ltd. (000620.SZ) proposes to raise 4.5 billion yuan by issuing 477 million shares at no less than 9.43 yuan per share through private placement from the controlling shareholders of the company and others. The proceeds will be invested in the company's holiday resorts and business center, etc. projects. After the completion, these projects will gain a net profit of 6,978 million yuan (within 25 years), 154 million yuan and 4,802 million yuan (in 25 years), respectively.
○Shouhang Resources Saving proposes RMB400 mln staff shareholding plan
------
Beijing Shouhang Resources Saving Co., Ltd. (002665.SZ) proposes to set up a staff shareholding plan of no more than 400 million yuan in capital scale, of which 133 million yuan is financed from employee and 267 million yuan is financed from institutions. For the financing from employee, major shareholders will guarantee an annual rate of return on investment of no less than 8 percent with their own assets.
○Three listed companies entailed impact of explosion in Tianjin
------
By the distributing time of this news, Tianjin Port Co., Ltd. (600717.SH) announces that the production and operation activities of the port are normal and the loss might be caused by the explosion is under evaluation now. Sinomach Automobile Co., Ltd. (600335.SH) also confirms by announcement that it has storage room in the explosion-affected area. Since the site has been strictly guarded, the company cannot conduct the statistical work on the damage of the vehicles, but will start the insurance claim procedures later on. Offshore Oil Engineering Co., Ltd. (600583.SH) announces that some of the glasses and facilities of its office buildings have been damaged.
[Financial Reports Express]
○Sinosun Technology proposes high share conversion
------
Sinosun Technology Co., Ltd. (300333.SZ) proposes a 20-for-10 conversion of capital surplus into shares in its semiyearly report, planning to bid for 63 percent equities of Funshion Online Technology Co., Ltd. Sichuan Zhongguang Lightning Protection Technologies Co., Ltd. (300414.SZ), Hubei Forbon Technology Co., Ltd. (300387.SZ) and Shanghai Huaming Intelligent Co., Ltd. (300462.SZ) propose a 10-for-10 conversion of capital surplus into shares in their semiyearly reports.
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