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  • In order to integrate resources yitai huodong railway will absorb and merge yitai zhundong railway

In order to integrate resources yitai huodong railway will absorb and merge yitai zhundong railway

Yitai coal said in a statement late on Nov. 7 that it had agreed to merge its holding unit, Inner Mongolia yitai huozun railway co., with Inner Mongolia yitai zhundong railway co.

As the surviving party of this merger, yitai huizhong railway company inherits and undertakes all assets, liabilities, business, personnel and all other rights and obligations of yitai zhundong railway company.As the merged party of this merger, yitai zhundong railway company will cancel its legal personality.

After the merger, the name of the surviving company is changed from "Inner Mongolia yitai huodong railway co., LTD." to "Inner Mongolia yitai huodong railway co., LTD." (the final name is subject to the approval of the industrial and commercial department).

The assessed value of all the equity of shareholders of the merged party is RMB 2.86 billion, and the assessed value of all the equity of shareholders of the merged party is RMB 8.95 billion.

Announcement said, yitai called quasi railway company absorbed yitai ZhunDong railway company, to maximize the fusion of two railway their advantages, make it play network effect, the joint railway company stock capacity effectively, the solution of the maximum yitai experience shortages existing in the railway company, into a single, such problems as shortage of funds, and thus fundamentally solve railway company or will face the survival and development of the problem in the future.

At the same time, yitai jundong railway company and yitai huizhen railway company are both holding subsidiaries of yitai coal co., LTD., as well as railway transportation enterprises.After this merger, superior resources, high-quality assets, excellent talents will be unified to the company concentration, resource advantage is more obvious.At the same time, the industrial layout of the railway sector of the company will be reasonably optimized, the transportation efficiency will be improved, the investment and financing level and the ability to resist risks will be improved accordingly.

Yitai coal pointed out that the merger is the company's development process adjustment

The important strategic measures of industrial structure, transformation of development mode, breakthrough of bottleneck and enhancement of development momentum are conducive to the optimization of transportation environment, integration of high-quality assets and resources, optimization of management structure, reduction of management level and accounting level, improvement of management efficiency and reduction of management cost.

The business scope of the surviving company after the merger includes: construction investment of huodong railway and its affiliated facilities;Railway passenger and cargo transport;Transportation of dangerous goods by railway (gasoline, diesel oil);Raw coal washing and marketing;Railway operation management and services and cargo extension services;Machine vehicle and line maintenance;Warehousing services;Rental of railway equipment, platforms, venues, premises and ancillary facilities;Railway materials and waste materials sales;Building materials, chemical products (excluding dangerous goods, easy to make drugs) sales;Technology development, technology transfer, technical services, technical consultation and technical training consultation;Catering services, accommodation services, own house rental.(where permission is required by laws, administrative regulations and decisions of the State Council, no production or business operation shall be conducted without permission)

The announcement noted that the absorption of the merger will help integrate the company's railway sector resources, improve efficiency, reduce management costs, and promote the company's overall development.The merger and acquisition does not affect the company's interests and overall performance. Both companies are holding subsidiaries of the company, and the merger and acquisition will not affect the normal operation of the company, which is in line with the company's development ideas and will not harm the interests of the company and shareholders.

The company was founded in 1998 with a registered capital of 1554 million yuan, the statement said.Inner Mongolia yitai coal co., LTD.Yanzhou ordos coal co., LTD. Holding 25%;Inner Mongolia state capital management co., ltd. holds 3.73%.As of December 31, 2018, the company had total assets of 7.117 billion yuan, total liabilities of 1.369 billion yuan, and achieved operating income of 1.917 billion yuan and net profit of 782 million yuan in 2018.

Yitaihuozun railway company was established in 2003 with a registered capital of 207,4598 thousand yuan.Inner Mongolia yitai coal co., LTD holds 76.99% of the shares.Inner Mongolia mengtai bolangou coal industry co., LTD.Datang power & fuel co., LTD. Holding 5.03%;Hohhot railway holding 1.30%.As of December 31, 2018, the total assets were 6.055 billion yuan, the total liabilities were 3.9 billion yuan, and the operating revenue in 2018 was 495 million yuan and the profit was -101 million yuan.

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