As the largest shareholder of Xoceco CPT Xoceco group relegated to second

Xiamen Overseas Chinese electronics chairman Guo Zeli cast a "smoke bomb" was finally cleared, the intention to purchase the CPT was finally realized in the end of 2005.

In December 29, 2005, Xoceco finally announced, said its controlling shareholder - Xoceco Group intends to hold 58.27% of the Xiamen Overseas Chinese electronic legal person shares in 32.64%, transferred to Taiwan CPT company wholly owned video Chunghwa (Wujiang) Co. Ltd., Xiamen Overseas Chinese electronic video Chunghwa become the first major shareholder, Xoceco group relegated second (22.13% stake).

The industry speculated that SONY, Samsung, LG-, PHILPS and Acer are out of Taiwan, somewhat surprisingly, in addition to video Chunghwa, Taiwan owned Enterprises -- Fuzhou joyeh Electronics Co., which holds 3.5% of the shares and become the third largest shareholder of Xiamen Overseas Chinese electronics.

The amount of the transaction for the transfer of shares, Xoceco's announcement did not disclose the specific number, but the industry that is higher than the previous acquisition amount will rise, Guo Zeli's previous position is in fact to put pressure on cpt.

The CPT said it will use 400 million yuan to acquire 33% stake in Xiamen Overseas Chinese electronics, also said the transaction amount will be 12 billion -160 million nt.

The past month, Xoceco spent 20 years of Changqing, also with the price of 72 million yuan will be held in the hands of Lenovo Mobile Communication of the 19.2% equity transfer to Lenovo (Beijing) Co., Ltd., then (December 26th) will last August 31st in Xiamen branch of industrial bank loans for 76 million 600 thousand shares pledge in China securities registration and settlement Co., Ltd. Shanghai branch pledge for lifting procedures.

Xiamen Overseas Chinese electronics official said, all this makes Xiamen Overseas Chinese electronic financial situation has improved, the objective is also to improve the equity transfer price of Xiamen Overseas Chinese electronics.

It is worth noting that, after nearly two years after the selection, Xoceco group (behind the Xiamen Construction Group) finally gave up the Xiamen Overseas Chinese electronics holding status, and promised in the equity trading at the same time, the reform of shares.

Jianfa Group Chairman Wang Xianrong said that in the new shareholders will solve Xoceco equity structure dominance issues, in favor of Xoceco to realize modern enterprise system management in the real sense.

For the management of Xiamen Overseas Chinese electronics, the acquisition of its interests is ensured.

Pointed out that the Xiamen Overseas Chinese electronics announcement, Xiamen Overseas Chinese electronics tax and corporate headquarters remain in Xiamen, Xiamen Overseas Chinese electronic video Chunghwa promises to support construction and relocation in Xiamen District of Xiangan City, 500 thousand square meters of new factory, also plans to Xoceco new plant next to the construction of LCD module plant scale, to shorten of Xiamen Overseas Chinese electronics the supply of distance, reduce the manufacturing cost of the Xiamen Overseas Chinese electronics.

Most importantly, the existing management team Xoceco unchanged, Xiamen Overseas Chinese electronics and the new shareholders maintain independence in assets, finance, organization, personnel salary system, etc..

The two sides agreed to the general manager, deputy general manager of the Xiamen Overseas Chinese electronics, the person in charge of finance, Secretary of the board of directors and other senior executives in Xiamen Overseas Chinese electronics full-time work, in addition to outside directors do not serve the administrative duties in the new shareholders in the enterprise, in order to continue to maintain the independence of the Xiamen Overseas Chinese electronics personnel.

In addition, the new business between the shareholders and the Xiamen Overseas Chinese electronics also remain independent. The transferee Huaying video, Jiayi electronic except through the exercise of shareholder rights, not prima electronic business activities of intervention.

CPT foreign investor relations department director Cao Xuanzhi said: "because the CPT did not brand and channel experience, so the dominance of the initial business or in Xiamen Overseas Chinese electronics and LG, Samsung, Xiamen Overseas Chinese enterprises cooperation we will not interfere with."

This acquisition is still a preliminary agreement, Cao Xuanzhi told reporters: "the details still need to be further consultations, about half a year before signing the final" equity transfer book ", but also need to go through the equity transfer China Commission, Xiamen local government approval, may still variable."

It is reported that in October 2004, Xoceco group has worked with the rainbow group reached less than 29% of the equity transfer agreement after the preliminary, due to various reasons failed, so the current that CPT acquisition completely successful too early.