This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

L&L Discusses Banking Support For Wholesale Business





SEATTLE, July 18, 2012 /PRNewswire/ -- L&L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or "Company"), a Seattle-based company with a five-year track record of profitable coal operations in China, announced that Dickson Lee, L&L's Chairman and CEO, and Jingcai Yang, L&L Director and former Senior Executive for Shenhua Group, attended a meeting with senior executives of China Construction Bank Corp. ("CCB") at their Beijing office to discuss financing options to support L&L's growing wholesale business.

CCB, one of the four large state owned banks in China, offers accounts receivable factoring to select companies contracted with reputable enterprises such as Datang International Power Generation Co. Ltd. ("Datang"). CCB recognized L&L's growing operations in Southeast China and its initiatives to improve the mining industry, specifically in the Guizhou and Yunnan provinces. Securing such financing will enable L&L to further expand its wholesale and logistics platform, as well as ramp up its capacity to large customers.

In February 2012, L&L received a license to expand its wholesale operations to Guizhou and in March completed Datang's vendor qualification process. In June, L&L made its first shipment of coal to Datang's HeShan power plant. While many suppliers in the region lack efficient delivery capabilities, L&L has established the necessary rail and logistics network to service major customers in Guizhou and surrounding provinces.

L&L Director, Mr. Yang, commented: "The support shown by China Construction Bank is another positive step forward for L&L. By solidifying a financing facility with such a reputable partner, we will strengthen our position in the marketplace and further reinforce our capabilities to service major enterprises such as Datang."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs