the equity transfer income prior to January 2017 12 days before the Hechi municipal government to repay the principal of 106 million yuan

Hechi SASAC objection and so on. The letter said, in accordance with the prior agreement, the equity transfer income prior to January 2017 12 days before the Hechi municipal government to repay the principal of 106 million yuan. But as of now, the Hechi municipal government owed 106 million yuan loan outstanding. The letter did not disclose the reasons for the formation of the loan.

Hechi SASAC also said that in December 5, 2016, Haohua Chemical Corporation oral notice which will be on January 2017 held by the transfer of 37 million 493 thousand and 589 stake in Hechi chemical industry. For this, the Hechi municipal SASAC expressed dissatisfaction: “Haohua Chemical Corporation, such as communication and consultation in our city is not the same situation, the transfer of holdings of 37 million 493 thousand and 589 shares of Hechi River group is in violation of the” Guangxi chemical, Hechi chemical industry group asset restructuring agreement “in 6,” securities pledge…… (7) Party A agrees not to transfer the existing assets of the river group to areas outside Hechi City, not the transfer of state-owned equity river of the shares of the company, does not change the company’s registration, based in Hechi, the main business bigger and stronger “agreement, will constitute the actual breach of contract, we reserve the right to pursue the liability for breach of contract in accordance with the law.”