Bade Petroleum: The company's wholly -owned subsidiary intends to bid land use rights

On August 25, 2022, Boded Petroleum (430321.NQ) issued an announcement on the company's wholly -owned subsidiary to purchase the land use right.

The announcement shows that the company's strategic development plan is to better meet the company's future business development needs, enhance production capacity, and improve market competitiveness and core competitiveness. (The following referred to as "all -funded subsidiaries") It is intended to bid in the intersection of Bohai 32 Road and Taijiang Road in the Lingang area of ​​the Tianjin Port Free Trade Zone. The fourth to the east to the Bohai Sea 32, the east of the Huaihe River in the south, the north to the north, the north to the north, north to the north. To Taijiang Road, the land use rights with an area of ​​15086.8 square meters are planned for industrial land, with a transfer period of 50 years.

The starting price of related assets is 8.4 million yuan, and the bid deposit is 2.1 million yuan. The transaction price is subject to the final signing of the relevant trading contract. After completing the purchase of land use rights, the company will implement the project in accordance with relevant regulations and requirements in the future, mainly used for expansion of the production site of wholly -owned subsidiaries.

According to the "Applicable Guidelines for M & A and Reorganization Business Rules of the National Small and Medium Enterprise Transfer System, Article 1.1 Polynesal Reorganization" stipulated "Purchase of land use rights for production and operation, real estate reaches the" Reorganization Measures "stipulated in Article 2 of the Reorganization Measures Standards shall perform the review procedures and information disclosure obligations in accordance with the requirements of the company's articles of association and related normative documents, but it does not constitute a major asset reorganization. "

On August 25, 2022, the company held the 19th meeting of the third board of directors to review and approve the "Proposal on the Purchase of Land Use Rights to Purchase the Land Use Right".

According to Bud Petroleum, according to the company's development strategy, combined with the actual situation of the company and fully considering the risk factors, this transaction is conducive to expanding the scale of production and operation, improving the company's comprehensive strength and competitive advantages, ensuring the company's long -term sustainable development, the future performance of the company Growth has positive significance.

- END -