China railway 373 million buys loss of major shareholder

NetEase Finance December 28 News China Iron Evening announcement, the company intends to be subject to the holding shareholder of China Railway Engineering Corporation held by the Chinese port Construction company 100% of the equity, the transfer price of 373 million yuan.　　The announcement indicated that as of November 30, 2010, the net assets of China Aviation Port were 291 million yuan and the loss was 73.8 million yuan. The announcement said that China's aviation port has the general contractor of housing construction and the airport Road, Highway Subgrade and road, decoration, steel structure and other engineering professional contract qualification and import and export trade and labor output rights, to carry out this transaction, is conducive to upgrading the company's housing construction, airport road and other aspects of the construction capacity,　　The company has a positive impact on the company's main business, and can effectively reduce the holding shareholder of China Railway Engineering Corporation's competition and related transactions.　　China Railway also announced that the company recently won the bid for more than 10 project contracts, the total price is 20.53 billion yuan, accounting for the company's 2009-year operating income of 5.93%. China Railway today closed at 4.26 yuan, down 0.7%.