Shenda Shares (600626): To Transfer Publicly To Two Printing Factories

Ge Long Hui April 17th, 600626.SH, announced that the company intends to pass the joint property rights transaction in Shanghai, so it is no less than the assessment value recorded by the state assets, and the 100% rights and interests of the Shanghai second printing and Dyeing Company Limited. At the end of December 31, 2019, the estimated value of the above rights and interests was about 507 million yuan.

Shanghai second printing and dyeing Co., Ltd. main business: printing and dyeing cloth, clothing, bedding; city freight; property management [approved by law projects, approved by the relevant departments can carry out business activities].

At present, the main business of the company is industrial textiles business mainly based on automotive interior decoration and new textile materials business, as well as textile import and export trade and domestic trade. The right to sell the target is required for the adjustment of the company's industrial structure. The company's two printing factory Limited has been shut down for many years, its rental ratio and capital utilization rate is relatively low. Based on the company's strategic development needs, the sale of two printing mill Limited 100% interest is conducive to the return of funds and enhance the company's main business areas.

After preliminary calculation, if the transaction price of the transfer of the rights and interests of the two printing mill Limited is 507 million yuan, it is estimated that the proceeds from the transfer of the rights and interests will be about 404 million yuan (the above data are not audited, and the impact on the company's net profit is based on the audit data of the accounting firm).

After the transfer of 100% rights and interests of the two printing company limited, the two Printing Company Limited will no longer be the company within the consolidated statement. The company does not exist for the two printing factory limited to provide guarantees, commissioned two printing company limited financial management, and its occupation of company funds and other aspects.