Xiamen XinDa to be listed on the transfer of 1.31% stake in Sanan Electronics

Xiamen XinDa (000701) on Monday announced that the company will hold the Xiamen Sanan Electronics Co. Ltd. (hereinafter referred to as the "three electronics") stake of not less than the corresponding value assessment of equity prices, property rights trading center in Xiamen publicly listed on the transfer, transfer of equity ratio does not exceed 1.31%.

Announcements, 3-an electronic engaged in electronic products, metal materials, wire and cable and electrical equipment wholesale and retail, the photovoltaic industry investment, industrial and electronic technology research and advisory services. As of August 31, 2015, three electronic net assets book value of -2.96 million yuan, the assessed value of 17 billion 887 million yuan, 18 billion 183 million yuan revaluation.

Xiamen 3-an electronic XinDa holds a 2.7% stake, as of August 31, 2015, the carrying amount of the investment cost of 43 million 217 thousand and 200 yuan, to be not less than 1.31% of its equity transfer price of 234 million 324 thousand and 600 yuan.

The company said that the transfer of shares held by Xiamen Sanan Electronics Co. Ltd. will help the company to make an inventory of assets, the recovery of funds, reduce financial costs, expand the other feasible project.

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