Guanghui Logistics Co LtdGuanghui Logistics offloads unpaid equity and 342 million yuan of capital contribution obligations to a related party for zero yuan while retaining majority stakes.
Guanghui Logistics announced that it plans to transfer part of the unpaid equity in its wholly owned subsidiaries Ningxia Coal Storage and Distribution and Gansu Jiangmei Logistics to Malang Mining, a subsidiary of related party Guanghui Energy, for zero yuan. Malang Mining will take on a total of 342 million yuan in subscribed capital contribution obligations and will additionally inject 23.7931 million yuan into Gansu Jiangmei Logistics. After the transaction, Guanghui Logistics will still hold 54.02% of Ningxia Coal Storage and Distribution and 58% of Gansu Jiangmei Logistics.
Guanghui Logistics Co LtdGuanghui Logistics offloads unpaid equity and 342 million yuan of capital contribution obligations to a related party for zero yuan while retaining majority stakes.
Guanghui Energy Co LtdIts subsidiary Malang Mining takes on 342 million yuan capital contribution obligations and injects funds into Gansu Jiangmei Logistics, a related-party transaction with unclear net benefit.
Malang Mining assumes 342 million yuan in subscribed capital obligations and injects 23.7931 million yuan into Gansu Jiangmei Logistics.
54.02% of Ningxia Coal Storage and Distribution is retained by Guanghui Logistics after the zero-yuan equity transfer of unpaid portions.
Gansu Jiangmei Logistics receives an additional 23.7931 million yuan injection from Malang Mining while Guanghui Logistics keeps 58%.