The US Bankruptcy Court gave an order approving the sale of the subsidiary of China Natural Gas, Inc. on December 18, 2014. The debtor has been authorized to sell its subsidiary to Abax Nai Xin A Ltd. and Abax Lotus Ltd., the stalking horse bidders for a purchase price of $53 million in cash. The debtor's assets include 100% equity interest in Shaanxi Xilan Natural Gas Equipment Co.

Ltd. The Sale deposit would be in the amount of $0.13 million. The debtor did not receive any other competing bids for the purchase of its assets and therefore Abax Nai Xin A Ltd. and Abax Lotus Ltd., emerged as the winning bidders.