Horizon shares in an opportunistic reduction of 20 million shares of Yangtze River Securities

Horizon shares (600851) notice, according to the company's capital requirements, the Board agreed to authorize the operating team at no less than 12 yuan/share price, sell 20 million shares of the Yangtze River Securities, and the management team to strictly control the use of funds, the establishment of relevant operating system.　　According to the information, the shares of the company hold about 174 million shares of the Yangtze River Securities, accounting for 8% of the total equity.　　The Yangtze River Securities stock January 26 close to 10.91 yuan/share, nearly one months have been hovering under 12 yuan. In addition, the shares also announced that the company held 43% of the Shanghai Haili Toys Co., Ltd. closed shutdown.　　After the liquidation of the Enterprise, the company undertook losses of about 22.77 million yuan in 2010.　　Hayley Toys was founded in May 1989, the current registered capital of 1.8 million U.S. dollars, of which the company shares 43% of the other five shareholders in 57%. 2010 The enterprise operating loss of 7.9 million yuan, to the end of 2010 book net assets-32.558 million yuan (unaudited), serious insolvency.　　In order to speed up industrial adjustment and clean up the loss of enterprises, after research, the board agreed to the Hayley toy shutdown. And the company shares 51% of Shanghai Haixin Tianma Toys Co., Ltd. terminated the production and operation of liquidation.　　After the liquidation of the Enterprise, the 2010-year total loss of about 3.41 million yuan. Tianma Toys was founded in October 2000, the current registered capital of 400,000 U.S. dollars. Affected by external environment and cost factors, Tianma toy production gross profit margin continued to decline in recent years in the state of loss or profit.