The Board of Directors and all directors of the Company guarantee that there are no false records, misrepresentations or major omissions in the announcement and take individual and joint responsibilities for the authenticity, accuracy and completeness of the contents of the announcement.
● Name of investment object: Shandong Jirui Mining Co., Ltd. (the name shall be subject to the final approval of the Administration for Industry and Commerce)
● Investment amount: the Company contributed 51 million yuan in cash, accounting for 100% of the total registered capital.
I. Overview of Foreign Investment
In order to further expand the mining development space, the Company plan to contribute 51 million yuan to set up a wholly owned subsidiary of Shandong Jirui Mining Co., Ltd. ("Jirui Mining " for short). The foreign investment matter does not constitute a related transaction; the matter has been examined and approved by the 33rd Interim Meeting of the 8th Board of Directors of the Company and will be submitted to the Shareholders' General Meeting for approval.
II. Basic Information on Investment Objects
Shandong Jirui Mining Co., Ltd., residence: High-tech Zone, Jinan City; registered capital: 51 million yuan, where the Company invested 51 million yuan, accounting for 100% of the registered capital; business scope: technology development, consultation and services for mining of minerals. (The registration information shall be subject to the final approval of the Administration for Industry and Commerce)
III. The Impact of this Investment on the Company
This investment is helpful to further expand the Company's mining development space, strengthen the mining investment and financing operation ability, enhance market competitiveness, and further enhance the Company's sustainable operation ability and profitability, to maximize shareholder interests.
The Company will handle industrial and commercial registration formalities as per the specified procedures, without risks for restriction or prohibition of laws and regulations. The Company will pay close attention to the Company's operation and management situation and timely control risk, to ensure that the investment is safe and beneficial.
Shandong Tyan Home Co., Ltd.
Board of Directors
September 8, 2016