The Proposed Restructuring Of The Company Will Enhance The Profitability Of The Company.

The board of directors of the cotton and cotton joint stock company approved and passed the motion on the sale of major assets by the board of directors.

At the seventh meeting of the Fourth Board of directors of the 002072 cotton market, the company approved the adoption of the company's major assets.

The company was originally mainly

The assets that the company intends to inject is the 100% equity interest of AI family owned by AI Jia holding, which includes 100% equity interests of 9 real estate subsidiaries and sun company. The real estate companies are distributed throughout the country to develop high-grade commercial housing.

By the end of August 31, 2009, the book assets of the AI family's combined statements were 1 billion 49 million yuan, and the net assets of the parent company's statements were 947 million yuan (Unaudited). The prediction value of AI family's court was 2 billion 990 million, the growth rate was 215.61% compared with the book net assets of the parent company, the net profit of AI family in 2008 was 203 million yuan, and the net profit (Unaudited) was 210 million yuan in 2009, and the price earnings ratio was equivalent to 14.24 times earnings according to the predicted value of love family court.

Li Shengan and his controller, together with the actual controller, promised that the net profit of four years in 2009, 2010, 2011 and 2012 would be no less than 800 million yuan (specifically based on earnings forecasts approved by accountants).

In 2009, the company's earnings per share in 2009 were -0.443 yuan, net assets per share of 1.96 yuan, net assets yield of -22.54%, operating income of 474 million yuan, a decrease of 18.06% compared to the same period last year, and net profit of -7793.05 yuan, representing a decrease of 1341.93% over the same period last year.

In 2009, the three quarterly report revealed that the company expects 09 year net profit loss of about 90 million yuan to 100 million yuan, and net profit of -5320.19 million in the 08 year. The reasons for the change of performance are: first, the textile market has not been fundamentally improved by the influence of the international and domestic economic situation; two is that the price of raw materials and accessories has increased considerably, resulting in the increase in the cost of the company's products and the decrease in gross profit margin.

The company's share price closed at 11.90 yuan, up 9.98%.