Mao restructuring project was terminated by 35 million yuan compensation

Moso Polytron Technologies Inc (hereinafter referred to as the "company") on May 20, 2015 issued "on the termination of a major asset restructuring and planning of non-public offering of shares to continue the suspension notice", detailed argumentation and analysis, and counterparties and intermediaries after many consultations, that this major asset restructuring plan conditions are not ripe, after careful consideration, the company decided to terminate this major asset restructuring, and has signed with the counterparty to terminate this major asset restructuring related agreements, according to the agreement, the counterparty shall bear certain compensation obligations.

According to the consultation, the company will receive compensation of 35 million yuan, the company has received compensation of $35 million in July 20, 2015. According to the provisions of accounting standards, the compensation amount will be received when all the funds are included in the current profits and losses, accounting for the company in 2014 audited net profit attributable to shareholders of listed companies of the absolute value of 73.13%.

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