Sino-FU Industrial: to acquire the largest timber trading platform in east China

Events: The company plans to acquire two parts of the stock of the Divine Light Analysis: 1, the company plans to acquire Shanghai Fu Man Warehousing Co., Ltd. 55% and Shanghai Gospel Logistics Co., Ltd. 55% Equity, the two-part equity valuation of a total of 147 million yuan. Shanghai Fu Man Warehousing Co., Ltd. 's net assets evaluation value of 157 million yuan; Shanghai Gospel Logistics Co., Ltd., the value of net assets is 111 million yuan.　　Shanghai Fu Man Warehousing Co., Ltd. and Shanghai Gospel Logistics Co., Ltd. is mainly engaged in timber warehousing leasing, logistics services, jointly operating the construction is located in Baoshan District, Shanghai 蘊 Sichuan Road 1800th (near the subway line Friendship West Road station) of the International Timber Trading Center. 2, Shanghai Fu Man Warehousing Co., Ltd. 2009 and 2010 annual operating income of 16.6091 million yuan and 20.234 million yuan, operating profit of 7.1471 million yuan and 7.412 million yuan respectively, Net profit of 7.0066 million yuan and 6.9018 million yuan respectively; Shanghai Gospel Logistics Co., Ltd. operating income in 2009 and 2010 years were 14.1251 million yuan and 15.6774 million yuan respectively, operating profit of 8.2895 million yuan and 9.8311 million yuan respectively,　　The net profit was $8.0346 million and $9.485 million respectively. 3, the acquisition of the company's future development is of great significance, first, to obtain the largest timber trading platform in east China, to improve the existing industrial chain, so that the company developed into a national forestry listed companies; second, to obtain the information platform of timber trading to create conditions for the company to expand forestry resources abroad; Third, enhance the profitability of the company in a short period of time. The company expects the next three years after the acquisition, the total of two companies will be at least annually for listed companies to bring more than 30 million yuan of net profit, and can present a sustained and stable development momentum. Considering the uncertainty of related events, the performance is not forecasted.