Foshan Lighting reduced the national high-tech profit of 850 million yuan

On the evening of July 19, Foshan Lighting announced that it plans to take a large-scale transaction or a centralized bidding transaction before December 31, 2016, and choose to reduce the shareholding of some Guoxuan Hi-Tech shares. The number of shares reduced will not exceed 36.5 million. share. On the evening of December 8, Foshan Lighting announced that from November 15 to December 7, the company reduced its shareholding in Guoxuan Hi-Tech by 29.27 million shares. The first reduction after the announcement of the reduction plan According to Foshan Lighting's announcement on the evening of December 8, the company sold the company's holdings from November 15 to December 7, through the block transaction method with an average price of 32.94 yuan per share. Guoxuan Hi-Tech stocks 29.27 million shares, accounting for 3.34% of the total share capital of Guoxuan High-Tech, with a total turnover of 964 million yuan. As of the announcement date, the company still holds 41.74 million shares of Guoxuan Hi-Tech, accounting for 4.99% of the total share capital of Guoxuan Hi-Tech. For this reduction, Foshan Lighting has already greeted in advance. On the evening of July 19, Foshan Lighting issued a notice saying that after deliberation and approval by the company's board of directors, it agreed to authorize management to take large-scale transactions or centralized bidding transactions from the date of deliberation and approval of the board of directors to December 31, 2016. Holding some Guoxuan Hi-Tech stocks, the number of reductions will not exceed 36.5 million shares, no more than 4.17% of the current total share capital of Guoxuan Hi-Tech. The proposal was approved by the company's extraordinary shareholders meeting on August 23. It is worth mentioning that, according to Foshan Lighting's previous announcement, after the completion of the reduction plan, the company's shareholding in Guoxuan Hi-Tech will drop to 36.51 million shares, accounting for 4.17% of the total share capital of Guoxuan Hi-Tech. On the evening of December 8, the announcement showed that after the shareholding reduction, the company still holds 43.74 million shares of Guoxuan Hi-Tech, accounting for 4.99% of the total share capital of Guoxuan Hi-Tech. In this regard, Foshan Lighting said that it is not possible to continue to reduce the stake in Guoxuan Hi-Tech in the next 12 months. Reduced profits by 850 million yuan In recent years, the A-share market has seen a number of listed companies that are good at equity investment. The reporter noted that Foshan Lighting is one of them. According to the announcement before Foshan Lighting, the company acquired 20 million shares of Hefei Guoxuan Gaoke Power Energy Co., Ltd. (hereinafter referred to as Hefei Guoxuan) for RMB 160 million in July 2010, accounting for 20% of the total share capital of Hefei Guoxuan. With capital increase and share expansion, the company's shareholding increased to 30 million shares. In May 2015, Hefei Guoxuan successfully listed on the listing of Jiangsu Dongyuan Electric Group Co., Ltd., and the number of shares held by the company increased to 73.01 million shares. With the backdoor listing of Hefei Guoxuan, the stock price of Guoxuan Hi-Tech has soared, so Foshan Lighting earned a lot of money through this equity transaction. According to the preliminary announcement on December 8th, Foshan Lighting sold 29.27 million shares of Guoxuan Hi-Tech. After deducting the cost and related taxes, the company obtained an investment income of 850 million yuan, which is expected to increase the company's 2016 net profit by 720 million yuan. . According to Foshan Lighting's 2015 annual report and the 2016 third quarterly report, the company's net profit attributable to shareholders in 2015 was 53.41 million yuan. In the first three quarters of 2016, the company achieved a net profit attributable to shareholders of 280 million yuan. Therefore, the company's investment income from the reduction of Guoxuan Hi-Tech stock reached nearly 16 times the company's 2015 net profit, which is more than twice the net profit of the company in the first three quarters of 2016.

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