SST Set Qi 55.68 million yuan to sell the real estate company Equity

SST Set Qi (000750.SZ) announced today, the company will participate in the Guilin run-QI Real Estate Development Co., Ltd. (hereinafter referred to as "Guilin run-qi") 32.43% Equity transfer to Beijing run Fenghongye Real Estate Development Limited Liability company (hereinafter called "Beijing Run Abundant"), the transfer price of 55.68 million yuan. According to the company announcement, Guilin run-Qi was founded in August 6, 2008, is now registered capital of 171.69 million yuan, business scope for real estate development, commercial housing sales, real estate information Consulting.　　Among them, the SST set QI owns 32.43% stake in Guilin Run Qi, Beijing run Fung shareholding 67.57%. As of June 30, 2010, Guilin run-qi net assets of 169.456 million yuan, net profit of 1.5531 million yuan.　　In terms of net assets, the value of its 32.43% equity is 54.9546 million yuan. SST set in the announcement that the purpose of the sale of this asset is because the company is increasing the investment in the main business, including the company and its subsidiaries related to the production equipment for technical transformation and upgrading and increase the company's product development and marketing efforts, which require a large amount of liquidity.　　At the same time, Guilin run-Qi to the above land development, as the Guilin run-Qi shareholders, the company should be responsible for a part of the development of funds, and because the real estate project development cycle is longer, the company will face greater capital pressure. SST Ji also said that the sale of assets of 55.68 million yuan will be used to supplement the company's liquidity.　　According to SST Ji Qi announcement, the first half of the company to achieve net profit-13.2989 million yuan. From January 23, 2009 onwards, SST set Qi began to suspend, and continued to date. February 5, 2009, the company announced that the general meeting of shareholders agreed to 3.72 Yuan/share additional 501 million shares to absorb the merger of the National Sea Securities. The company and Saco Company to hold 9.79% of the shareholding of national Maritime Securities and 128 million yuan of cash and SST set all the assets and debt replacement. All shareholders and Rong Investments except Saco companies agree to pay 2 shares per 10 shares to the company's circulating shareholders at the same time as the transaction is implemented.