1.6 billion RMB convertible bond issue approved

Song Wah cable (600037), November 11, the company received the China Securities Regulatory Commission "on the approval of the Beijing song Hua Cable Network Co., Ltd. Public issued convertible bonds," approved the company to the public issue of the total value of 1.6 billion yuan convertible bonds, the period of 6 years.　　The official reply shall be valid for 6 months from the date of approval of the issue. Analysts said that the song China cable issued by the issuance of convertible bonds means the company has received new financing means, although the company received government subsidies, but the company's performance growth is still facing greater pressure, the smooth issuance of convertible bonds, will be expected to significantly improve the company's financial situation.　　The company said that the board would deal with the issue of convertible bonds as soon as possible in accordance with the requirements of the approved documents and the authorization of the company's general meeting. Song Hua cable three quarter of this year to achieve net profit of 170 million yuan, an increase of 70%, the first three quarters to achieve net profit of 310 million yuan, to achieve operating income of 1.316 billion yuan.