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29 Aug

China Garment Stock Company said that if the stock price by listing the successful transfer of the Textiles and less impact on corporate profits.

Posted in Uncategorized on 29.08.10

In addition to transfer of ownership, Chinese clothing with major shareholders in the recently held assets luxury bags
replacement.

The announcement shows the company, according to the company and controlling shareholder of Chinese silk (China) Co., Ltd. signed the “asset exchange agreement”, the company intends to have the portion of the receivables held by Zhejiang and Hempel International Center building and offshore real estate replaced.

It is reported thatOmega Watches
Chinese silk clothing holds 25.11% stake in the company’s largest shareholder. Chinese clothing is to be set up asset accounts receivable balance of 39.82 million yuan, a price above the amount of receivables in accordance with the book balance of accounts receivable, there is no deduction for bad debts. The company’s assets to be placed into Hempel held Zhejiang Ocean International Center building and property, assessed value of 35.04 million yuan.

The proposed purchase of the assets and the assets to be placed in the difference between the 4.78 million yuan from the Chinese silk in the “asset exchange agreement” entered into force within 30 working days from the date of a one-time payment to the Chinese clothing.

Chinese clothing, said the Chinese silk replacement is the largest shareholder in the company, the continued integration of the company’s assets. Company assets to be used for replacement of receivables is 5.5% by the end of the balance of provision for bad debts, the deal to increase total profit of 2.19 million yuan period.

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