Time To Complete Share Transfer Technology To The Spandex, Real Estate Restructuring

Science and Technology intends to era peak times 25% share equity transfer to the Shanghai Expo

, the transfer price of 4,300 yuan. The share transfer is completed, the company is still the peak time of the largest shareholder. Through this equity transfer, will help the company to further adjust the industrial structure, sort of foreign investment, repayment of long-term equity investments.

Age Science and Technology on April 13 announcement that the company and enjoy the Expo Shanghai Mechanical & Electrical Equipment Co., Ltd. signed the "Equity Transfer Agreement", held in Beijing his peak era Technology Co., Ltd. 25% share equity transfer to the Shanghai Expo, the transfer price of 4,300 yuan. The share transfer is completed, the company is still the peak time of the largest shareholder. Expo Shanghai to enjoy the company also signed a "commission agreement", the Shanghai Expo will be the transferee of shares entitled to the relevant shareholders of listed companies commissioned by the Executive, commissioned operation for one year.

The peak time to sell stake in company restructuring and corporate restructuring needs a must, since 2008, the company gradually from the electronics, textile machinery manufacturing companies to the spandex, real estate companies in transition. 2009, the controlling shareholder of the company changes, the new controlling shareholders of listed companies in the textile spandex, the real estate business has extensive experience, the controlling shareholder of listed companies to support the development of the company focus to adjust to their own familiar territory, it is a good the company's long-term, sustained and healthy development.

Through this equity transfer, will help to further adjust the company structure, combing foreign investment, repayment of long-term equity investment capital, increase cash reserves, enhance ability to resist risks, improve the company's financial position, reduce the debt ratio, expansion financings space, as soon as possible achieve the company restructuring, the textile and real estate business bigger and stronger spandex.

The transfer time of the peak can recover some of the cash option, while still maintaining a holding time of the peak position of the company at minimum cost to achieve the times of the peak of the purpose of holding the recovered funds will be used to support the company's main business development, improving company's financial structure.

Through this equity transfer is beneficial to real estate development company. January 20, 2010, the company held the fifth meeting of the Board of the 34th, and on February 8, 2010 meeting of the company in 2010 the first provisional shareholders meeting, through asset replacement replacement into the home of Shaoxing County, Xu Cheng Co., Ltd. 72.86% of the shares of the company's primary business is real estate development and sales. As the real estate company for the second half of 2009 the newly formed company, to bank loans difficult, but the real estate company has two real estate projects --- Xu, Garden District and the town into a customs district is starting period, the need to some financial support. If the company to private financing, its high cost is the cost of private finance in Zhejiang province is generally 20%. The sale of the times of peak 25% stake, will receive funds 4,300 million, while according to the times of the peak in 2009 net profit basis, the company will reduce investment income 4,384,600 yuan, the cost of capital below the level of private financing.

In view of the company transferred 25% of peak era of the shares, which will speed up the real estate development process, shorten the construction period, its profits as soon as possible, and in accordance with Beijing Friendship Co., Ltd. issued in property assessment and evaluation report Yi words (2010) No. 12001 No. asset evaluation report, the project is expected to end in 2011, which will lead to 3,927 million profit. At the same time in 2010, along with the spandex industry steadily upward, the company has completed the reform process to improve the spinning speed, while the polyurethane raw material prices tend to rise when the company has ordered a large number of polyurethane raw materials, products help control costs, improve Spandex Company contribution to the company's profits. Spandex first quarter of 2009 the company contributed to the company's profit of 7 million from first quarter 2010 preliminary financial data, spandex company's profit contribution to the company about 150 million times the peak in the transfer of 25% equity After the polyurethane industry, the company will be bigger and stronger, to realize industries. Textile Company, Ltd. a subsidiary of Thai value increase as the demand for domestic textiles, continue to adjust the production structure, improve corporate efficiency.

The stock transfer will not be on the company's continued viability and status of the company's assets have a negative impact, the company transferred 25% of peak times of the stake, continues to have control over the company's annual report auditors the accounting firm of Beijing Hi the matter, issued a "Time Technology Co., Ltd. Inner Mongolia held its peak Technology Co., Ltd. Beijing era before and after the consolidation scope share transfer that", after the equity transfer of the shares held by its 28.83%, still its largest shareholder and agreements with other shareholders have agreed substantially more than half of the times of peak voting, according to "Accounting Standards for Enterprises No. 2 - long-term equity investment," the times of peak age technology to decide financial and operating policies and which it could be from the business activities to obtain benefits. Age technology can still control the times of the peak, the equity transfer era technology is still in accordance with the cost method and consolidated accounting treatment does not violate the provisions of Accounting Standards.

Time To Complete Share Transfer Technology To The Spandex, Real Estate Restructuring

By: weihua

POST COMMENT

Ceramic Bathroom Products Industry, 10 Of Rules Of Marketing Tips To Pick The Right Living Room Furniture Choosing The Right Dining Table Set For Footwear Industry In Advancing The Field Of Outdoor Shoes (photo) Zhengzhou Home Improvement Chain Stores Predators Stationed Change Pattern How Selling Door to Door Taught Me to Be a Better Direct Marketer Discovering More Storage Space in Your Home Montage Technology Chairman And Ceo Dr. Yang Chonghe Elected Ieee Fellow Kitchenaid Combination Microwave Review: Kitchenaid Kehu309sss Earn Money From Home - How I made an easy $157.50 in Just Less Than an Hour Real Estate Investing: How To Evaluate Deals How To Save On Fuel When At Home Newspaper Advertising Tips to Consider when you Invest in Real Estate