WAL-MART'S Offer Of Huarun Has Confidence In The Chinese Market.

WAL-MART announced last night that it will acquire a minority stake in the 21 companies jointly invested with Huarun Shenzhen Investment and Investment Co., Ltd., and the two sides have signed a corresponding equity pfer agreement.

The paction involved an amount of 3 billion 300 million yuan.

In the early 90s of last century, foreign investment in China was hindering.

Only joint ventures can be chosen.

WAL-MART Shenzhen International Investment Department Store Co., Ltd. is the flagship enterprise of Shenzhen International Investment and investment in retail business. In 1995, it was approved by the State Council to establish a joint venture with the Wal-Mart Store Inc of the United States. WAL-MART held 65% of the subsidiary's stake. Shen Guo directly held 25% of the shares and indirectly owned 10% of the shares through another subsidiary, Shenzhen Venture Capital commercial real estate Co., Ltd., so it had a total interest of 35%.

In 2003, Huarun Wan took over the Chinese shareholding of WAL-MART Shenzhen Investment Department.

Ke Junxian, President and chief executive officer of WAL-MART China, stressed: "WAL-MART is confident of the Chinese market. We will increase investment in China, hoping to better serve the customers of WAL-MART shopping plaza and members of Sam's member stores, and strive to become the most trusted retailers of Chinese consumers.

This paction closely follows our investment in wholly owned 1 shop, reflecting our efforts to satisfy Chinese customers' demand for online and offline shopping.

A month ago, the latest listing information of the Shanghai United rights and equity exchange was informed that Huarun group's Huarun Shenzhen Investment and Investment Co., Ltd. would pfer the 21 WAL-MART's 35% equity projects and related claims with a total price of 3 billion 335 million yuan, of which the largest one came from the 35% stake of WAL-MART Shenzhen International Investment Department Store Co., Ltd. and the pferor's 448 million yuan claims to the target company, and the listing price was 2 billion 569 million 370 thousand yuan.

Guangdong, Hunan, Henan and other places 9 WAL-MART 35% equity listing price is 1 yuan.

However, the completion of the paction still needs to be achieved.

Approval of relevant government departments.

WAL-MART has just released its third quarter earnings this year, and WAL-MART's total sales in the Chinese market increased by 2.9%.

In the third quarter, WAL-MART opened 5 new stores in Heyuan, Guangdong, Dongguan, Zhejiang Huzhou and Guizhou Bijie.

In the next 3 months, WAL-MART also plans to open new stores in Yunnan, Inner Mongolia, Shandong, Fujian, Hubei and Guangdong.

WAL-MART China said that the operation cost control project is still the focus of WAL-MART's attention.

Once again, it is devoted to labor and customer experience, especially to fresh food.

For shop No. 1, WAL-MART said it continued to focus on how to further utilize WAL-MART's global and local business advantages. At present, some WAL-MART stores in Shenzhen provide self service for customers at No. 1 store. Meanwhile, WAL-MART App also delivers goods through the 1 logistics store in Shenzhen's logistics team.