Jingwei Textile For 9 Months, Turning Losses Into Profits, Making 105 Million Yuan.

In the third quarter, we lost 76 million 60 thousand and 300 yuan and lost 46 million 967 thousand and 200 yuan in the same period last year.

Supplement:

Jingwei Textile intends to increase capital by holding a stake of about 12 million 500 thousand yuan (14 million 294 thousand yuan) to Beijing's real estate development company, holding about 44.83% of its equity.

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.

At the same time, Jingwei Textile intends to pfer 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 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 increase, the registration of Heng Tian real estate will increase to about 875 million yuan (about 1 billion yuan), which is 105 million yuan (about 120 million yuan), and the proportion of equity is 12%, which will be paid by 12 million 500 thousand yuan cash and Bo Hong 44.83%.

As for the company's pfer 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.