Core Viewpoint - The company intends to sell 100% equity of its subsidiary, Shanxi Qingshui Shuntai Energy Development Co., Ltd., to Shanxi Shenggang Energy Co., Ltd. for a cash consideration of RMB 24.6093 million, which is seen as an opportunity to realize its investment and focus resources on developing new technology for natural gas production [1] Group 1 - The target company is a wholly-owned foreign enterprise registered under Chinese law, primarily engaged in the manufacturing and sales of liquefied coalbed methane [1] - The board believes that the sale will provide the group with a good opportunity to monetize its investment in the target company [1] - The company plans to concentrate its resources on the research and development of a new technology for natural gas production, which has been in development since 2017 [1] Group 2 - The new technology is referred to as "ultra-high temperature steam catalyzed coal mineral accelerated quality change evolution hydrocarbon production technology," previously known as "ultra-high temperature water activation hydrocarbon production technology" [1] - The company has appointed the Hong Kong Productivity Council as a technical partner to further develop a commercial prototype of the technology [1] - The sale aligns with the group's strategy to allocate its financial and human resources towards business development [1]
中国煤层气(08270)拟2460.93万元出售山西沁水顺泰能源发展100%股权