Luoping Zinc & Electricity to dissolve, liquidate three subsidiaries

SHANGHAI, Sep 30 (SMM) – Yunnan Luoping Zinc & Electricity announced on September 27 to dissolve and liquidate three subsidiaries, after relevant proposals being approved in the company’s board of directors meeting. 

Chuxiong Hengyun Mining Co., Ltd is one of the three subsidiaries. Focusing on mineral prospecting since it was founded in 2009, the subsidiary had neither achieved significant prospecting progress, nor carried out actual business operations, adding little value to the company's revenue, Luoping Zinc & Electricity announced. 

The other two subsidiaries are Luoping County Rongxin Rare Metal Co., Ltd and Yunnan Gaolun Trade Co., Ltd.