Hubei Energy Adjusted Directional Addition Price

Hubei Energy held its first extraordinary general meeting of shareholders in 2012, through an adjusted private placement plan, with a price of RMB 4.81 per share.

Hubei Energy intends to issue no more than 662 million shares in non-public offerings, and the net proceeds raised will not exceed 3.2 billion yuan, and it will be used in six major projects: the first phase and second phase of Lichuan Qiyueshan wind farm, and Wuhan-Chibi, Xiaochang-Qianjiang, and Jingzhou. - Public security - Shishou, Huangqi - Macheng and other natural gas pipeline construction projects.

Earlier, Hubei Energy plans to issue more than 400 million shares at 7.53 yuan per share. Due to the recent plunge in stock prices, the issuance program was forced to adjust. It is expected that Hubei Energy’s net profit attributable to shareholders of listed companies in 2011 will be 560 million to 650 million yuan, a decrease of 37.34% to 46.01% from the same period of last year.