November 16 -- Guilin Layn Natural Ingredients Corp. (002166.SZ) intends to spend 10 million yuan on establishing a subsidiary in Guilin, reports Yicai.com, citing a company filing.

The new subsidiary will be engaged in land, real estate, infrastructure construction and logistics investment.

Layn Natural Ingredients also has a subsidiary called Layn Investment, that conducts the same business as its new subsidiary.

Layn Investment had total assets of 300 million yuan and net assets of 298 million yuan at the end of June 2011. The company reported a loss of 1.23 million yuan in the first half of 2011.

Source:CapitalVue