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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  China Shenhua Energy Company Limited    1088   CNE1000002R0

CHINA SHENHUA ENERGY COMPANY LIMITED

(1088)
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China Shenhua Energy : UPDATE ANNOUNCEMENT IN RELATION TO SHENHUA FINANCE CAPITAL INCREASE AGREEMENT

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09/09/2020 | 06:00am EDT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(a joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 01088)

UPDATE ANNOUNCEMENT IN RELATION TO SHENHUA

FINANCE CAPITAL INCREASE AGREEMENT

References are made to (i) the announcement published by China Shenhua Energy Company Limited (the "Company") on 27 March 2020 in relation to entering into an agreement (the "Shenhua Finance Capital Increase Agreement") on the capital increase of Shenhua Finance Co., Ltd. ("Shenhua Finance"); (ii) the circular published by the Company on 9 April 2020 in relation to, among others, entering into the Shenhua Finance Capital Increase Agreement; and (iii) the announcement published by the Company on 29 May 2020 in relation to, among others, the voting results of the 2019 annual general meeting (the "Publications").

- 1 -

Recently, the Company has been informed that Shenhua Finance has received the Approval on the Change of Registered Capital and Adjustment to Shareholding Structure of Shenhua Finance Co., Ltd. (Jing Yin Bao Jian Fu [2020] No. 529) from the Beijing Bureau of the China Banking and Insurance Regulatory Commission, approving the change in the registered capital of Shenhua Finance to RMB12.5 billion and the corresponding adjustment to the shareholding structure of Shenhua Finance. Accordingly, the Shenhua Finance Capital Increase Agreement has come into effect.

For further details on the Shenhua Finance Capital Increase Agreement, please refer to the Publications.

By order of the Board

China Shenhua Energy Company Limited

Secretary to the Board of Directors

Huang Qing

Beijing, 9 September 2020

As at the date of this announcement, the Board comprises the following: Mr. Wang Xiangxi, Mr. Yang Jiping and Mr. Xu Mingjun as executive directors, Mr. Jia Jinzhong and Mr. Zhao Yongfeng as non-executive directors, Dr. Yuen Kwok Keung, Dr. Bai Chong-En and Dr. Chen Hanwen as independent non-executive directors, and Mr.Wang Xingzhong as employee director.

- 2 -

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

CSEC - China Shenhua Energy Company Ltd. published this content on 09 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 September 2020 08:59:04 UTC


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Sales 2020 218 B 32 566 M 32 566 M
Net income 2020 37 468 M 5 605 M 5 605 M
Net cash 2020 29 447 M 4 405 M 4 405 M
P/E ratio 2020 6,51x
Yield 2020 8,01%
Capitalization 316 B 47 311 M 47 311 M
EV / Sales 2020 1,32x
EV / Sales 2021 1,17x
Nbr of Employees 75 412
Free-Float 29,8%
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Number of Analysts 18
Average target price 15,19 CNY
Last Close Price 12,14 CNY
Spread / Highest target 52,3%
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Spread / Lowest Target -8,82%
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NameTitle
Ji Ping Yang Chief Executive Officer & Director
Xiangxi Wang Chairman
Meijian Luo Chairman-Supervisory Board
Shan Cheng Xu Chief Financial Officer
Da Yu Zhou Member-Supervisory Board
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