DISPOSAL OF A SUBSIDIARY

6 Months Ended

Jun. 30, 2021

Disposal Of Subsidiary

DISPOSAL OF A SUBSIDIARY

16. DISPOSAL OF A SUBSIDIARY

On April 28, 2021, the Company's subsidiary, China Coal Mining Investment Ltd (“China Coal”) entered into an equity transfer agreement to transfer 100% of the equity interests of Yangpu Lianzhong for total consideration of CNY103,767 (US$16,070) to the Company's related party, Shenzhen Feishang Energy Investment Co., Limited ("Feishang Energy").

At the date of disposal, the carrying values of the net assets of the disposed subsidiary was as follows:

	Date of disposal
	CNY
	(Unaudited)
Other receivables		114,766
Cash and cash equivalents		263
Other payables and accrued liabilities		(1,062	)
Taxes payable		(10,200	)
Net assets subject to disposal		103,767
Consideration		103,767
Net impact		—

The disposal consideration receivable was fully realized by offsetting amounts due to Feishang Energy under a series of creditor right transfer agreements.

An analysis of the cash flow in respect of the disposal of a subsidiary is as follows:

	CNY
Cash consideration		—
Cash and bank balances disposed		(263	)
Net outflow of cash and cash equivalents included in cash flows from investing activities		(263	)