Yanghe shares plan to buy double ditch 26.9% equity

Yanghe shares (002304.　　SZ) announced today that the company intends to acquire 26.9% of the two-ditch wine industry, the company's shares since January 5, 2011 opened a duplicate. Recently, Jiangsu Suqian State-owned Assets Investment Management Co., Ltd. in Jiangsu Equity Exchange issued a notice, the proposed transfer of the holding of Jiangsu Double Ditch Liquor Co., Ltd. (hereinafter referred to as "double Ditch liquor") 29.61 million shares, accounting for the company's registered capital of about 26.9%.　　The announcement requires that the main business of the assignee is the liquor production and operation, has the qualification, experience and ability to engage in the production and operation of the liquor industry, and the intention of the assignee in the last 3 years audited net assets, net profits, liquor operating income are significantly better than the target company 2009 annual performance. According to the shares of Yanghe announcement, October 31, 2010 as the base day, audited, double ditch liquor industry total assets of 720.5418 million yuan, net assets of 412.2672 million yuan.　　The valuation value of the company's net assets of 1,428,150,000 yuan, the corresponding evaluation value of 384.46 million yuan, transfer reference price of 532.98 million yuan. Yanghe shares said that the company's board of Directors intends to participate in the acquisition of these shares, if the success of the above equity, will help the company to promote the integration process with the double ditch wine industry, promote the two companies to further integration.　　According to the relevant bulletin of Jiangsu Provincial Property Exchange, the double ditch liquor industry accounted for 36.6% of the operating income of Yanghe's shares in 2009 years, and total profit accounted for 13.99% of the total profit of Yanghe. "We have the confidence to take this part of the stake.　　Yesterday evening, Yang Yanghe shares dong Cong Conen accepted "The first financial daily" interview, said that at present, the integration between Yanghe and double ditch is much smoother than expected progress, marketing also changed from the Soviet liquor industrial aspects of the unified operation. Last April, Yanghe was to be listed through the Exchange to buy another Soho liquor giant double Ditch wine industry 40.6% Equity, become the liquor industry, one of the largest takeover case.　　Industry insiders believe that the further acquisition of the two-ditch shares is not surprising, the end of May last year, Yanghe management has said that Yanghe to the two-ditch equity investment from their own needs to see will not be satisfied with 40.6%. In addition, Yanghe also announced that the Yanghe shares plan in Yanghe wine Industry Park Investment of about 1.7 billion yuan, for the famous Wine Brewing technical Transformation Phase II project and 100,000 tons of famous wine aging old ripe technical renovation project. The company also plans in the next 2 years, continue to invest 1.2 billion yuan in Yanghe Industrial Park, to expand the main business of liquor.