The company announced on 2 July 2008 that it will issue up to 150 mln shares at RMB 6.00 per share to Newhope Chemicals Investment Co. Ltd, Jinping Tianhui Investment Co. Ltd and Deyang Maoyuan Co. Ltd as well as natural persons Liu Chang and Wang Shouqin, to purchase 100% stakes both in Chengdu Huarong Chemical Co. Ltd and Gansu XinChuan Chemical Co. Ltd, whose estimated combined value is approximately RMB 900 mln.

Source: Shanghai Securities News

Date: 2 Jul 2008

CN01/NW/MZ/BT/MM