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    002911   CNE100003332

FORAN ENERGY GROUP CO.,LTD.

(002911)
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Foran Energy Group Co.,Ltd. completed the acquisition of 40% stake in Guangzhou Yuanheng Warehousing Co., Ltd. from Guangzhou Yuanheng Energy Co., Ltd.

01/18/2021 EST

Foran Energy Group Co.,Ltd. (SZSE:002911) signed a share transfer agreement to acquire 40% stake in Guangzhou Yuanheng Warehousing Co., Ltd. from Guangzhou Yuanheng Energy Co., Ltd. for approximately CNY 500 million on December 31, 2020. Post-completion, Guangzhou Yuanheng Energy Co., Ltd. will reduce its stake in Guangzhou Yuanheng Warehousing Co., Ltd. from 70% to 30%. As at October 31, 2020, Guangzhou Yuanheng Warehousing Co., Ltd. reported total assets of CNY 1.03 billion and net liabilities of CNY 308.7 million. The transaction is approved in the 4th meeting of Foran Energy Group Co.,Ltd.'s directorate. Foran Energy Group Co.,Ltd. (SZSE:002911) completed the acquisition of 40% stake in Guangzhou Yuanheng Warehousing Co., Ltd. from Guangzhou Yuanheng Energy Co., Ltd. on January 18, 2021. Recently, Yuanheng Warehousing completed the registration modification procedures and obtained the business license and notice on the approval of the registration modification issued by the Administrative Approval Bureau of Guangzhou Nansha Economic and Technological Development Zone.


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Financials
Sales 2020 7 515 M 1 177 M 1 177 M
Net income 2020 469 M 73,5 M 73,5 M
Net Debt 2020 663 M 104 M 104 M
P/E ratio 2020 21,5x
Yield 2020 3,32%
Capitalization 9 745 M 1 525 M 1 527 M
EV / Sales 2019 1,33x
EV / Sales 2020 1,42x
Nbr of Employees 1 923
Free-Float 10,7%
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Managers and Directors
Yi Cun Huang President & General Manager
Dan Ying Xie Deputy GM, Chief Financial & Accounting Officer
Xiang Yin Chairman
Jian Hang Qiu Chairman-Supervisory Board
Jian Jun Zhang Independent Director