China Steel Corporation’s China International Thermal Engineering Corporation in Shanghai Stock Exchange to transfer its 70% equity interest in packaged some Lianyungang to Silicon Material Technology Development Co., Ltd. (hereinafter referred to as "Silicon Material Technology Company") and Jiangsu energy semiconductor materials Co., Ltd. (hereinafter referred to as "Semiconductor materials") 60% stake in the listed price is 16,373,000 yuan and 5,974,140 yuan, respectively, totaling 22,347,140 yuan. The transferee shall be green energy companies. After two equity transfer, Sinosteel will fully withdraw from the two semiconductor companies.
Statistics show that silicon materials technology companies and semiconductor materials technology development company and downstream, respectively, for use on the company, and the two companies cross-shareholdings. Among them, silicon materials technology company registered capital of 20 million, including the operation of quartz, silicon materials technology development, sales, Chinese international energy engineering companies and semiconductor materials company held 70% and 30% stake; semiconductor materials company registration capital of 10 million yuan, including the operation of semiconductor materials, high purity quartz sand production, sales, Chinese international energy engineering companies and silicon material Technology Company holds 60% and 40% stake.
According to the audit results, silicon materials technology company losses 364,800 yuan in 2008, the first half of this year, the company losses amounted to 89,300 yuan. As of the end of June this year, the company had total assets of 19,014,800 yuan, equity of 19,015,200 yuan. To the end of 2008 as a benchmark assessment shows that the carrying amount of the company’s total assets and the assessed value of 19.186 million yuan, respectively, and 23,404,400 yuan, and evaluate the carrying value of the net assets of 19,171,500 yuan, respectively, and 23,389,800 yuan, the corresponding transfer target assessed value 16,372,900 yuan .
Semiconductor materials company 581,000 yuan loss in 2008, the first half of this year, the loss amounted to 348,000 yuan, as of the end of June this year, the company had total assets of 12,165,700 yuan, equity of 8,660,500 yuan. To the end of 2008 as a benchmark assessment shows that the carrying amount of the company’s total assets and the assessed value of 11.8535 million yuan, respectively, and 13,247,200 yuan, and evaluate the carrying value of the net assets of 8,609,100 yuan, respectively, and 9.9569 million yuan, the transfer of the underlying value of 5.9741 million yuan corresponding assessment .
According to the listing announcement, China International Thermal Engineering seeks intention of the transferee transferee listed equity while Silicon Materials Technologies and semiconductor materials company, the transferee does not accept joint. Intention of the transferee will be required to promise a one-time payment of property transaction price to the transferor designated account within ten working days from the date of "property transaction contract" becomes effective.
According to requirements of the transferor, the transferee shall be engaged in the municipal new energy, new materials and energy-saving and environmental protection technology and industrial development and investment in more high-tech enterprises, through the ISO9001-2000 quality management system certification, registered legally in China surviving more than 4 years, and for the state-owned or state-controlled enterprises, registered capital of not less than 50 million yuan (subject to business license). Furthermore, the intention of the transferee need to have a good financial position, the audited total assets as of December 31, 2008 of not less than 50 million yuan and net assets of not less than 45 million yuan, to achieve profitability in 2008, and has a good business reputation and ability to pay, the bank balance of not less than 3.8 million yuan.
For technical strength transferee, listing announcement requirements shall have the intention of leading the technical team, the team has more than the proportion of senior technical titles of the technical staff of not less than 25%, the proportion of intermediate technical titles over the technical staff of not less than 50%, and have relevant experience in new energy, new materials development. In order to maintain the company’s continued stable operation, the intention of the transferor to the transferee shall undertake required within five years after the transferee without the transfer of foreign equity stake. |
