Sichuan Hu Shan abandoned stereo to do digital TV equipment

Reorganization program involves asset replacement and directional additional issues Sichuan Lake Hu today released a major asset restructuring program, through the asset replacement and directional additional, the large shareholder of the Jiuzhou group of digital television equipment manufacturing assets will be fully owned by the listed companies, targeted additional purchases of assets traded near 500 million yuan. The reorganization includes asset replacement and targeted additional purchases of assets. Listed companies will be held in Sichuan Lake Shan Electrical Appliance Co., Ltd. 49% of the stake and the Jiuzhou group held by the Shenzhen Jiuzhou Electric Co., Ltd's 12.5% shareholding, and the proposed 8.59 yuan/share price,　　To the Jiuzhou group issued 57,958,183 shares, to buy the remaining 81.35% of its shares in Shenzhen, Jiuzhou Electronic Technology Co., Ltd. Sichuan Kyushu 69.66% Equity. The proposed set of the Hu Shan electrical appliances mainly engaged in electronic audio equipment, machine decorative parts of the production and sales, asset quality is not high, profitability is poor, as at the end of 2008 net assets of 88.32 million yuan, attributable to the parent company net profit of 298,000 yuan. The main business of the nine continents in Shenzhen is the production and sale of digital TV set-top boxes, and the Jiuzhou group holds 93.85% per cent of its shares.　　By the end of 2008, the company's operating income of more than 1.4 billion yuan, the owner's equity of 448.13 million yuan, attributable to the parent company net profit of 11.92 million yuan. Kyushu shares mainly engaged in digital television front-end equipment, cable TV broadband network equipment, such as business, the company 69.66% of the equity transaction price of 174.78 million yuan.　　This part of the asset and the nine continents holdings of the remaining Shenzhen Jiuzhou 81.35% of the equity consolidation, the issue of the shares purchased assets trading price of 497.8608 million yuan.　　After the completion of the transaction, the Jiuzhou group of digital television industry will be all concentrated in the Sichuan Lake, the listed company's main business will be in EMS, satellite high-frequency head, to increase the annual output of 11 million DVB and 160,000 HFC equipment manufacturing capacity, the main business to digital television equipment development, production and sales of the overall transformation According to earnings forecasts, the net profit of Lake Hu's ownership of the parent company is 47.44 million yuan, assuming the completion of this major asset reorganization in 2009. The Jiuzhou group pledged that if the net profit of the listed companies in 2009 were not up to the forecast, the Jiuzhou group would compensate the difference between the actual net profits and the earnings forecast by cash.　　Wu Shan in Sichuan Province achieved a net profit of 11.12 million yuan in 2008, down 59.7% from a year earlier. At the same time, the company today announced the end of last July issued a private release plan. According to the plan of the time, the company intends to issue no more than 70 million shares to raise funds for the acquisition of 93.85% stake in Jiuzhou Electric appliance owned by major shareholders and 69.66% per cent of Jiuzhou shares, as well as all the assets and operations of the Jiuzhou Group Air traffic Control equipment division.