Sea Rainbow Holdings withdrew from the joint public computer

Hai Hong Holdings (000503) bulletin, the company in August 3 with Beijing Wei Devofu Investment Consulting Co., Ltd. signed a letter of intent on equity purchase. According to the letter of intent, the company to Wei Devofu or its designated third party to sell the company held by Beijing Lianzhong Computer Technology Limited liability company 50% Equity and the company's subsidiaries hold Ourgame Assets Limited (OAL) 35.3% stake.　　By mutual consultation, the total price of the shares sold under this letter of intent equals USD 27.7 million. The announcement showed that the transaction was completed two times, when the first transaction, the company sold a 36.7% of the shares of the United States and the company's subsidiaries held by the oal22%, the price of a total of 17 million U.S. dollars, is expected to be completed within three months; subsequent transactions, the company sold held by the associated computer 13.3% Equity and the company's subsidiaries hold a oal13.3% stake of $10.7 million, which will be completed within 36 months of the initial acquisition.　　After the end of all transactions, the company no longer directly or indirectly held the shares of the computer and OAL. For the purpose and impact of the transfer of shares, the company and its affiliated companies to sell the computer and OAL shares, is to meet the company's development planning and business integration. After the transaction is over, the company will no longer directly or indirectly hold the shares of the PC and OAL. If the first transaction can be completed within the current year, it is expected that the company will receive investment income of about 20 million yuan this year through the transaction. The sale of assets will not adversely affect the company's financial position and operating results.