Baofeng Energy to invest in the establishment of a subsidiary in Inner Mongolia

On the evening of July 1, Baofeng Energy announced that it would set up a subsidiary in Inner Mongolia.Asian Metal Copyright The subsidiary is located in Tuke Project area, Sulige Economic Development Zone, Wushen Banner, Ordos City, Inner Mongolia, with a registered capital of RMB1 billion USD141 million.Asian Metal Copyright The subsidiary is located in Tuke Project area, Sulige Economic Development Zone, Wushen Banner, Ordos City, Inner Mongolia, with a registered capital of RMB1 billion (USD141 million).

Baofeng Energy will invest RMB950 million (USD134 million) and hold a 95% equity, according to the announcement. Its wholly-owned subsidiary, Ningxia Baofeng Energy Group Olefin No.Asian Metal Copyright, Ltd.Asian Metal Copyright2 Plant Co.Asian Metal CopyrightOn the evening of July 1, Baofeng Energy announced that it would set up a subsidiary in Inner Mongolia.Asian Metal Copyright, Ltd.Asian Metal Copyright Will invest RMB50 million USD7.Asian Metal Copyright Will invest RMB50 million (USD7.Asian Metal Copyright07 million and held the remaining 5% of the equity.Asian Metal Copyright07 million) and held the remaining 5% of the equity.Asian Metal Copyright Baofeng Energy will invest RMB950 million USD134 million and hold a 95% equity, according to the announcement.Asian Metal Copyright The Inner Mongolia subsidiary will mainly focus on the production and sales of high-end coal-based new materials (excluding dangerous goods), coal mining, washing and marketing, project construction of coal gasification to produce olefins and downstream products (excluding related dangerous goods projects) and internal research and development.

.Asian Metal Copyright .Asian Metal Copyright