BEIJING--（BUSINESS WIRE）--On June, 10th, 2009, Henan Shuncheng Group Coal & Coke Co., Ltd. ("the Company") engaged USA Wall Street Capital United Investment Group., LTD. (www.awsci.com,Chairman: WANG YUSHU, general manager: LI JINLONG) as its exclusive advisor about seeking financing by listing on the stock market. On May, 14th, 2010, Shun Cheng Holdings Hong Kong Limited ("Shun Cheng HK") (general manager: WANG FENG) signed the Share Exchange Agreement with Birch Branch, Inc. ("Birch Branch") (OTCBB:BRBH), a U.S. public company, which marked the Company goes public successfully by reverse merger. The Company is intended to apply for the listing of its stock on the Nasdaq Stock Market. The U.S. auditors of the Company audited its accounts and indicated that the Net Profit After Tax of the Company is 15.57Million U.S. dollars and its Market Value is above $120Million.
The Share Exchange Agreement provides for the acquisition by Birch Branch of 100% of the issued and outstanding capital stock of Shun Cheng HK from the Shun Cheng HK shareholders. Upon completion of the share exchange, the Shun Cheng HK shareholders will own approximately 95% of the issued and outstanding shares of Birch Branch common stock and Shun Cheng HK will become a wholly-owned subsidiary of Birch Branch.
Shun Cheng HK, through a series of contractual arrangements among its Chinese wholly-foreign owned enterprise subsidiary, Anyang Shuncheng Energy Technology Co., Ltd., the Company and the Company's shareholders, exercises management control over the Company.
The Company produces coke, refined coal and coal byproducts in Henan Province in the central region of the People's Republic of China. The Company's current principal products are refined coal and metallurgical coke. The Company also sells medium coal and coal slurry (which are byproducts produced from its refined coal process), tar, ammonium sulfate, crude benzol and coal gas (which are byproducts produced from its coke manufacturing process). The Company intends to substantially increase its coke production capacity. And now the Company is seeking $70Million for building new production lines. It's expected the Company's value will be more than $500Million after moving to NASDAQ. Warm welcome will be given to the investors and investors can contact Mr. LI JINLONG (TEL: 00861084094312, 008613910210608, E-mail:13910210608@139.com).
For more information, investors can refer to Birch Branch's periodic reports filed from time to time with the Securities and Exchange Commission which are available at http://www.sec.gov.
Contact
Mr. LI JINLONG, 00861084094312, 008613910210608
13910210608@139.com