Jingwei Textile Adds Capital To Heng Tian Real Estate And Injects Bo Hong Rights.

On September 22nd, Jingwei Textile Co., Ltd. intends to increase its capital by holding a stake of about 12 million 500 thousand yuan (14 million 294 thousand yuan) to Beijing's real estate development company, which is owned by Bo Hong real estate development company in 44.83%.

　　 Warp and weft textile (00350) announced the signing of the agreement, to Beijing Bo Hong real estate development company held about 44.83% stake together with 12 million 500 thousand yuan (14 million 294 thousand yuan) cash to the capital of Heng Tian capital. At the same time, Jingwei Textile intends to spanfer about 20.17% of the remaining shares of the company. After the capital increase, the company held 12% as a shareholder of Heng Tian real estate and became a wholly owned shareholder with a 100% stake in the company.

　　 Heng Tian Group As the ultimate controlling shareholder of Jingwei Textile, Heng Tian real estate is a subsidiary of the latter. At present, Jingwei Textile holds the 65% rights of Bo Hong, which is mainly engaged in real estate development and commercial housing sales, and has entered into its own property. Estate management And so on.

After the completion of the capital increase, the registered property of Heng Tian real estate will increase to about 875 million yuan (about 1 billion yuan), of which 105 million yuan (about 120 million yuan) is invested in Jingwei Textile, with a shareholding ratio of 12%, which will be paid by 12 million 500 thousand yuan of cash and Bo Hong 44.83% stake. As for the company's spanfer of the 20.17% stake in Bo Hong, the price is 61 million 200 thousand yuan (69 million 983 thousand yuan). The company expects to sell about 30 million 168 thousand yuan (about 34 million 497 thousand yuan) in the equity income, and the proceeds will be used to supplement working capital.