Societe Generale 850 million holding joint China Trust

Xingye Bank (601166. SH) today announced that the bank intends to purchase a total of 852 million yuan of the Joint China International Trust Limited (hereinafter referred to as "The Joint China Trust") 51.18% equity, all paid in cash.　　The bank said that this is to further promote the group and integrated management of the development strategy. This part of the equity was originally from the New Hope Group Co., Ltd., Southern Sichuan Hope Industrial Co., Ltd., Fujian China Investment Co., Ltd. held 15.69%, 25.49% and 31.96% respectively, Societe Generale to 686 million yuan to buy 41.18% of the equity, to the latter 167 million yuan to buy 10%　　, Societe Generale said the purchase price was signed in 2009, 2.55 times times the 2008 net assets per share.　　After the completion of the acquisition, in addition to Societe Generale Bank shareholding of 51.18%, the Joint China Trust by Fujian Investment Co., Ltd. held a 21.96% stake, and the Australian National Bank and the previous acquisition of the same holding 20% per cent.　　As of December 31, 2009, the total amount of the joint-China Trust assets of 776 million yuan, the total liabilities of 39 million yuan, net assets of 736 million yuan, 2009 to achieve net profit of 38.2 million yuan.　　Upon completion of this transaction, the Joint China Trust will become a holding subsidiary of Societe Generale and incorporated into the bank's parent company's financial statement, which has been approved by the Board of directors and the CBRC. Societe Generale January 18 issued a performance announcement that 2010 attributable to the listed shareholders net profit reached 18.528 billion yuan, an increase of 39.5% per share earnings 3.28 yuan, 31.2% year-on-year, weighted average return on net assets up to 24.66%　　The bank's operating income amounted to 43.48 billion yuan, an increase of 37.25% per cent, operating profit of 23.939 billion yuan, an increase of 39.04% per cent, the upcoming 2010 annual results will be announced on April 15.　　In the first half of 2010, Societe Generale implemented a rights issue plan, according to the proportion of 2 shares per 10 shares to all the shareholders placing, each share price of 18 yuan, a share allotment of the increase of 992 million shares, a total of 17.864 billion yuan, equity rights after the completion of the total stock of 5.992 billion shares. Societe Generale fell 2.97% yesterday and received 25.5 yuan.