Gansu Energy Chemical Subsidiary Wins Two Related-Party Projects Worth About 218 Million Yuan

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A wholly owned subsidiary of Gansu Energy Chemical, Gansu Coal First Engineering Co., Ltd., has won bids for two related-party projects with a combined contract value of about 218 million yuan including tax. One is the waste rock storage yard project for the mine and coal preparation plant of Zhangye Qingyang Coal Co., Ltd., with a total project price of 5.3 million yuan including tax. The other was won by Coal First Engineering together with Tiandi Science & Technology Co., Ltd. for the construction of the Jiulongchuan Coal Mine project of Gansu Energy Qingyang Coal and Electricity Co., Ltd., with a total project price of 298 million yuan including tax. Of that amount, the project price confirmed for Coal First Engineering is 213 million yuan including tax, mainly covering the freezing and excavation works for the main shaft, auxiliary shaft, and No. 1 return air shaft. Qingyang Coal and Qingyang Coal and Electricity are both subsidiaries of the company's controlling shareholder, Gansu Energy Chemical Investment Group, making both transactions related-party transactions. In the first half of this year, Gansu Energy Chemical achieved operating revenue of 4.698 billion yuan, up 26.36 percent year on year, and net profit attributable to the parent of 174 million yuan, up 195.58 percent year on year.

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甘肃能源化工投资集团i
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Its subsidiaries awarded related-party contracts worth about 218 million yuan to the group's engineering unit.

张掖青阳煤业有限公司i
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