70% stake of Jinshiqi International driving the construction of a 2 million tons per year coal-based clean fuel project in Bijie

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Jinshiqi International Resources Co., Ltd. holds 70% of the shares, and it is this company that is driving the construction of a plant for producing 2 million tons per year of coal-based clean fuels in Bijie. Author/Source: Guizhou Yufu Energy. Date: August 28, 2020. Clicks: 3. With the support of the government of Guizhou Province, our company’s original shareholders signed an agreement on April 9th to transfer 70% of the shares to Jinshiqi International Resources Co., Ltd. An additional agreement was signed on July 31st; Jinshiqi International Resources Co., Ltd., as the major shareholder, will be responsible for leading the development of this plant for producing coal-based clean fuels in Bijie. On August 3, the company held a shareholders’ meeting to establish its fourth board of directors and convene its first meeting; the company’s articles of association were revised and improved, and the shareholding changes were registered and made public on the **Enterprise Credit Information Publicity System (Guizhou) official website. Jinshiqi International Resources Co., Ltd. is a 100% wholly-owned subsidiary of Jinshiqi International Holding Co., Ltd., the largest and most powerful private investment holding enterprise in Guizhou Province, with a registered capital of 3.5 billion yuan. Currently, the key subsidiaries in which Jinshiqi International Holding Co., Ltd. has made investments and holds controlling interests include Zhongtian Financial Group Co., Ltd., a listed company in Guizhou Province, Guiyang Energy (Group) Co., Ltd., and United Energy Investment Holding Co., Ltd.; the business areas covered by these subsidiaries include real estate, finance, energy, agriculture, and other sectors. As of March 31, 2019, the company’s total assets amounted to 103.132 billion yuan. Dongfang Jincheng International Credit Rating Co., Ltd. has assigned an AA+ long-term credit rating to Jinshiqi International Holding Co., Ltd., with a stable rating outlook. Kim Se-gi’s next strategic focus will be a shift away from the real estate and finance sectors, with an emphasis on investing in the real economy, particularly the energy industry in Guizhou Province.