Kaisheng Group

Luoyang Glass's subsidiary Puyang Company signed a CNY 439 million contract with International Engineering for construction services for the Puyang project. It also signed contracts with Kaisheng Company for desulfurization and waste heat boiler works totaling CNY 22 million.

Phu My Ultra Clear Float Glass Co., Ltd started construction of a $110 million ultra-clear float glass production facility in Ba Ria-Vung Tau, Vietnam. Phase I is expected to be completed by 2018, with a daily capacity of 6,000 tonnes.

Luoyang Glass plans to issue up to 24.45 million new A-shares to raise up to CNY 573 million. Proceeds will fund a new photovoltaic cover material production line at Hefei New Energy and a high-transparency dual-glass module project at Tongcheng New Energy.

Luoyang Glass plans to acquire 100% of Hefei New Energy for CNY 342 million, 100% of Tongcheng New Energy for CNY 247 million, and 70.99% of Yixing New Energy for CNY 247 million, all paid in new A-shares. The acquisitions aim to expand its new energy glass business.