TCL group 297 million sale of land and plant

Securities Times Network (www.stcn.com) September 23 September 23 Evening, TCL Group (000100) bulletin, recently, the company received a holding subsidiary TCL Multimedia Technology Holdings Limited (01070.HK) notice, TCL Multimedia wholly-owned subsidiary of Inner Mongolia TCL Ace Electric Appliance Co., Ltd., and Hohhot The city land purchase and reserve Auction Center and the Hohhot Ruyi District Management Committee have concluded a tripartite agreement. According to the tripartite Agreement, TCL Ace of Inner Mongolia sells land use right and building on the ground to the Hohhot Land Purchase Reserve Auction Center, the total amount is 297 million yuan. Financial profit PO, current savings rate increase 1000% the subject is located in Hohhot City Ruyi Development Zone, Xinhua Street, South Second Ring road, Inner Mongolia TCL trump card use of state-owned land, the total area of 102075.791 square meters, the ground building area of 88940.44 square meters. The land is being used for industrial purposes and is the location of the Trump factory in Inner Mongolia. TCL Multimedia has begun a new plant construction project in Hohhot, the existing plant in the land will be relocated to the new plant, the sale will not affect the normal operation of TCL Ace in Inner Mongolia. Tcl said the sale is due to government urban planning changes, infrastructure construction and other policy reasons, enterprises need to move the whole and disposal of related assets. In accordance with the August 31, 2013 of the land use rights and the floor of the audit of the value of the account, it is expected that the Inner Mongolia TCL Trump in the sale of the items will be a gain of about 165.15 million yuan, the company holds TCL Multimedia 61.19% Equity, The sale will have a positive impact on the company's consolidated statement net profit.