Jinniu Energy Bids for Majority Shareholder of Cangzhou Chemical      

Hebei Jinniu Energy Resources Co., Ltd. (Jinniu Energy, SZ: 000937) has bidden for the 30.29% stake in Cangzhou Chemical Industrial Co., Ltd. (Cangzhou Chemical, SH: 600722) from Hebei Cangzhou Chemical Industrial Group Co., Ltd., and the 90% equity in Shenzhen Quintessence Enterprises Development Co., Ltd. which holds the 10.56% stake in Cangzhou Chemical, for a consideration of RMB70 million and RMB100 thousand respectively, thereby Jinniu Energy being the majority shareholder of Cangzhou Chemical.
   Jinniu Energy, a leading coal business enterprise in China, will relocate the 60 thousand t/a PVC and 80 thousand t/a caustic soda units of Cangzhou Chemical, and restart the 230 thousand t/a PVC facility of Cangzhou Chemical and construct the 400 thousand t/a PVC project of Cangzhou Chemical. (CCR2007 No. 36)