The real holding of the parent company in the year to implement capital injection is not intended to sell SMIC

Teng Yirong said after the shareholder meeting 1st, the first priority is to expand the core business, especially the strong real estate, infrastructure business, on the one hand to identify the quality of assets held by the parent company, but also hope that in the restructuring of the state-owned enterprises in Shanghai, can provide mergers and acquisitions opportunities. He added that the existing property-related assets owned by the parent company, including the land to be developed, hotels, commercial buildings, and housing, were successfully invested in the Shanghai City Group last year. Study on the acquisition of Four Seasons Hotels in Shanghai earlier reported that the fastest in the year to purchase the parent company in Shanghai, including Four Seasons Hotel, Shanghai-Hangzhou Expressway, Teng Yirong responded that the project is still under study, but in the restructuring of the state-owned enterprises in Shanghai, some of the assets compared to the parent company's assets more high-quality, it is not only to identify the parent company assets, can also be mergers and acquisitions. Teng Yirong Bluntly, this year will be able to implement the new acquisition plan, but temporarily unable to disclose the acquisition of asset classes, or involved in the size of the acquisition. However, he added, the parent company must take care of its own development to help grow. Teng Yirong said that the real parent company's a-share company "on the real development" also has the operation of real estate business, but with the actual state of the difference between the two companies division of labor, Synergy. In the pharmaceutical business, Teng Yirong said that the pharmaceutical business could provide a stable cash flow for the real, so there was no sale plan. Last year, a number of pharmaceutical assets were injected into the "real medicine", so that "on the real medicine" to become the real development of medicine business platform. Asked about the consumer goods business, Teng Yirong said that the business also has stable cash flow, but it is neither a core business nor a non-core business and should be regarded as a contribution to the business and will continue to hold business. Temporarily does not consider the sale of core equity as for Non-core business, Teng Yirong said that such business in the past two years, the poor profit, to the real capital flow contribution is small, so will continue to peel, but the exit should remain stable. Asked if the sale of SMIC, Teng Yirong Frankly, SMIC's share price is low, if the sale of the interest in this period of time, to the real, investors, the shareholders have caused damage, so before making any decision, we must balance the interests of all parties. Check the annual report, is currently holding SMIC 9.78% equity; SMIC lost $119 million in the first quarter of this year, and yesterday's share price fell 11% to 0.48 yuan.