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%.
Jingwei 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 Heng Tian real estate to increase capital.
meanwhile
Warp and weft textile
About 20.17% of the remaining shares of the company will be pferred to Heng Tian real estate.
After the capital increase, the company held 12% as a shareholder of Heng Tian real estate.
Constant universe
After gaining equity capital, it became a wholly owned shareholder holding the 100% stake of Bo Hong.
Heng Tian Group is the ultimate controlling shareholder of Jingwei Textile Company, and Heng Tian real estate is the subsidiary company 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 property management for its own property.
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 pfer of company
Bo Hong
The price of the 20.17% stake is 61 million 200 thousand yuan (69 million 983 thousand yuan), and the company expects to sell about 30 million 168 thousand yuan (about 34 million 497 thousand yuan) in equity income, and the proceeds will be used to supplement working capital.
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