Hing Yung Investment in the development of additional funds to raise 1.9 billion acquisition of water companies

NetEase Financial October 12 Hing Rong Investment announcement today, the company intends to 10 specific investors targeted additional fund-raising 1.9 billion yuan, the acquisition of Xing Rong Group owned Chengdu City Water company 100% stake, the acquisition constitutes a related transaction.　　The water company 2009 the net profit which belongs to the parent company shareholder is 132 million yuan, the outside business income is 162 million yuan, the non-operating income mainly receives the income related government subsidy, specifically for the Chengdu government to the water supply Company's bot water price subsidy. In the future, because of the change of the actual subject of bot, the water company and Chengdu Municipal People's government have clearly defined the rights and obligations of both sides, and the water cost will be greatly reduced, but the related bot water price subsidy will not continue to enjoy the future.　　So 2010 1-September, the operating income of the water company fell sharply and the operating profit was significantly improved, which had positive and positive effect on the production and operation of the water company.　　After the completion of the acquisition, the company's business will expand to the field of water supply, so that the company formed a collection of raw water, water production, transmission and distribution, water, sewage treatment and other business as a whole, water supply and drainage integration of the complete structure of the waterworks is the company to achieve its own development strategy Hing Yung Investment today closed to 20.75 yuan, down 0.24%.