Anyang Prosperous Clean Energy has completed the process of incorporating a new wholly owned subsidiary on October 27, 2009: Jiangsu Hengrun Clean Energy in Nanjing, Jiangsu Province. The total registered capital of Jiangsu Hengrun is RMB20m, all invested by Anyang Prosperous Clean Energy.
Jiangsu Hengrun will mainly be engaged in the research and development of clean energy technology and the promotion and application of clean energy technology. The establishment of Jiangsu Hengrun enables the company to expand its business operations and market shares in South China.
In November 2009, Weifang Prosperous Energy Technology Development has opened a new compressed natural gas (CNG) filling station in Weifang city, Shandong Province, China. The Changsong-road station is located at a convenient site on the main street, and two kilometers away from Weifang train station. Its designed capacity is 12,000 cubic meters per day with its gas supply from Zibo City. Since its trial operation in November 2009, Changsong-road station has witnessed a growth in sales revenues.
Anyang Prosperous Clean Energy has spent RMB36.5m on purchasing 15% of the shares of Ancai Energy through Henan Zhenye Auction on December 9, 2009.
