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Advised Shengli Oil & Gas Pipe Holdings Limited on the disposal of its non-wholly owned subsidiary

Advised Shengli Oil & Gas Pipe Holdings Limited (stock code: 1080) (Shengli Oil) on the disposal of 45% of the issued share capital of Shanghai Guoxin Industrial Company Ltd, a company principally engages in the business of selling chemical feedstock and products, mineral products, petroleum products, fuel products, coal, charcoal, nonferrous materials, metal materials, to an independent third party Shenzhen Zhongcheng NEEQ Investment Corporation LLP, for a consideration of RMB200 million. The transaction constituted a major transaction under Chapter 14 of the Hong Kong Listing Rules.

Shengli Oil is a China-based investment holding company principally engaged in oil and gas pipeline business.


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