SVA 500 million yuan to sell real estate concentrate on the development of liquid crystal panel

Newspaper news (reporter Zhang Yan) yesterday, Shanghai radio and television electronics (referred to as SVA) announced its control of the Shanghai house real estate development Co. Ltd. (hereinafter referred to as the house real estate) 30% stake at a price of 500 million yuan to sell, to focus on the development of the LCD panel business.

SVA SVA announced that the November 9th, Shanghai electric group and Asset Management Company Limited (hereinafter referred to as the Shanghai Electric Group) signed a transfer agreement, will be held by the house real estate 30% of the shares are transferred to Shanghai electric group, the transfer price of the house in real estate assets totaled 500 million yuan, transfer.

The reason to do this transfer, SVA board of directors said the move will help the company to focus resources on the development of new flat panel display industry, promote the company's industrial restructuring. It is worth mentioning that, with the Chinese TV industry as a whole from CRT TV to flat TV, since this year the CPT manufacturers are at a loss on the loss of 280 million yuan, up. This is why SVA LCD panel business development and spare no effort to increase the LCD panel industry, but frequently need to invest hundreds of millions, only the scale of production, and continuously control the latest technology to continue to make profit.