China grain real estate to reduce investment securities profit 223 million yuan

Cofco Real Estate (000031. SZ) today announced that to replenish liquidity, as at December 31, 2010 The company has sold the holdings of China Merchants Securities (600999. SH) 16.5142 million shares.　　After the initial calculation, the company's disposal generated after-tax profit of about 223 million yuan. Last September just reduced the 9.04 million shares of China Merchants Bank (600036. SH) 's Cofco Property Bulletin said the board authorized the general manager to dispose of the 112 million shares of China Merchants Securities Holdings.　　The announcement means the plan has been implemented. Previously, in order to replenish liquidity, Cofco property has repeatedly reduced the financial assets. Including the withdrawal of Jinrui Futures Brokerage Co., Ltd., the sale of pharmaceutical, Jiangxi Copper, China Baoan Equity, as well as merchants bank 9.04 million shares, resulting in a profit of about 80 million yuan. In addition to the above has sold financial assets, the current Cofco real estate also holds about 95.248 million shares of investment securities, 4.8354 million shares Everbright bank.　　At yesterday's closing price, the remaining financial assets were worth about 1.854 billion yuan. In addition to selling financial assets, Cofco property is actively leveraging other means to finance the consolidation of its real estate business. At the end of last year, the company announced that the plan to the company's 50 million shares of investment securities beneficiary rights and derivative rights as collateral, commissioned Kunlun Trust for the company's financing does not exceed 600 million yuan.