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Yaxing (Zhenjiang) Mooring Chain Co., Ltd. has completed the above-mentioned industrial and commercial change registration procedures and obtained the changed Corporate Business License issued by Zhenjiang Administration for Industry and Commerce. The specific changes are as follows:
1. The registered capital and paid-in capital of Yaxing (Zhenjiang) Mooring Chain Co., Ltd. was changed from RMB149,23,738,687,000 to RMB349,23,738,770,000, which is still a wholly-owned subsidiary of the company.
2. The scope of business is changed from “Licensed business project: None. General business project: R&D and production of oil platform mooring chain, marine anchor chain and its accessories (limited to branch operation), sales†changed to “Licensed business project: None. General business items: research and development, production, sales and technical services of marine engineering mooring chains, marine anchor chains and their accessories; self-operated and agent import and export business of various commodities and technologies (nationally restricted enterprises or import and export prohibited goods) Except for technology and dangerous goods)."
Jiangsu Yaxing Anchor Chain Co., Ltd. held the 2010 Annual General Meeting of Shareholders on May 12, 2011, deliberating and passing the “Proposal on Capital Increase of wholly-owned Subsidiariesâ€, and agreed to the company’s Zhenjiang Jiayang Mooring Chain Co., Ltd. "Yaxing (Zhenjiang) Mooring Chain Co., Ltd.") increased capital by 200 million yuan. According to the decision of the shareholders of Yaxing (Zhenjiang) Mooring Chain Co., Ltd., the company agreed to change the registered capital and business scope of Yaxing (Zhenjiang) Mooring Chain Co., Ltd.