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Express News | Kinetic dev clarification: The company has not changed the auditor. The previous erroneous announcement was uploaded due to a printing agent's mistake.
Kinetic dev (01277.HK): Everbright Coal Mine enters the joint trial operation phase
On November 11, geelonghui announced that Kinetic Dev (01277.HK) issued an announcement. The Yongan Coal Mine ("Yongan Coal Mine") located in the Ningxia Hui Autonomous Region owned by a subsidiary company indirectly owned by the company has officially entered into joint trial operation on November 8, 2024, and is expected to reach full production by 2026. The north-south span of Yongan Coal Mine is approximately 6.5 kilometers, and the east-west span is about 3.6 kilometers, with a mining area of approximately 21.7 square kilometers. Yongan Coal Mine produces various types of coal, including coking coal, 1/3 coking coal, and fat coal, with a designed production capacity of approximately 1.2 million tons per year. As of the date of this announcement,
Express News | Stabilizing supply and demand, the coal industry is expected to rebound from the bottom.
Express News | Citic Securities: The coal sector may enter a new round of short-term rebound.
Kinetic Development Group's Subsidiary to Acquire Two Real Estate Companies From Zhuhai Seedland
Kinetic dev (01277.HK) intends to acquire 100% equity of Maoming Shengda and Maoming Shengcheng respectively.
On November 4th, KeLonHui announced that on November 1, 2024, its indirectly wholly-owned subsidiary Kinetic Dev Qinhuangdao and Zhuhai Real Land entered into a Maoming share transfer agreement, under which Kinetic Dev Qinhuangdao agreed to acquire and Zhuhai Real Land agreed to sell Maoming Shengda and Maoming Shengcheng respectively 100% equity interests, for a total consideration of RMB 70 million. Kinetic Dev Qinhuangdao will pay the RMB 12.25 million income tax payable for the Maoming acquisition by Zhuhai Real Land, which will be deducted from the total consideration of RMB 70 million, making the net payable amount for the Maoming acquisition RMB 57 million.
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