Winning shares to sell land 313 million profit

Victory shares announced today, the company's participation in Qingdao Sheng-Tong Coastal Property Development Co., Ltd. (hereinafter known as Sheng-Tong coast) and Qingdao City Construction Investment (group) Limited Liability company (hereinafter referred to as the Qingdao city) signed the "Land resumption compensation agreement" yesterday, some land use rights under the name of Sheng Tong Coast are to be recovered by the Qingdao Land Reserve Centre.　　This will increase the net profit of the 2010 consolidated statement of the winning shares by about 313 million yuan. The transfer of land was awarded 1.723 billion Yuan Sheng-Tong coast is mainly engaged in Qingdao Sifang District West Coast land reclamation. According to the announcement, the listed company's winning shares directly hold a 17% stake in the victory over the coast, in addition, 62.5% of the company's holding subsidiary, Qingdao Sheng Xin Investment Co., Ltd. holds the 20% stake in the coast.　　2009, the victory of the coast to achieve a total operating income of 746 million yuan, operating profit of nearly 600 million yuan, the impact of the victory of the net profit of 130 million yuan. The victory through the coast of the total delivery of three pieces of land part of the area, a total of 441,800 square meters. Qingdao City investment will be in accordance with 2.6 million yuan/mu (3900 yuan/square meters) on behalf of the government finance to win through the coast compensation, the total of 1.723 billion yuan.　　The net profit of the combined report of Shengli shares will increase by about 313 million yuan.　　In addition to this transfer of land, Sheng-Tong coast still has around 1.2213 million square meters of land, the nature of the land is still the use of state-owned construction, by the Qingdao Land Management department or its commissioned units in accordance with the subsequent different points of land compensation standards are gradually recovered. Real estate into the company's important growth power win the original main business of energy wholesale, pesticides, bio-pharmaceutical, etc., the development of a more stable. At the 2008 annual shareholder meeting held on May 10 last year, a new board of directors was set up to consider and adopt the company's 2009-2012 Strategic development Plan, proposing a new development pattern of "biology and agriculture into one, real estate and investment as the wings", and planned to fully integrate the resources advantage for real estate and investment projects,　　Steady operation. Over the past two years, the victory over the coast through the sale of land to obtain a substantial income, but also to the success of the shares dress up the performance. July 30, 2009, Sheng-Tong Coast and Qingdao city voted to sign the Land resumption compensation agreement, the total delivery is located in Qingdao Sifang District North Road, No. 177th, part of the three land areas.　　The land was assessed at a premium of $818077368 per square metre of $2841.5. According to the "Qingdao Old Town enterprise relocation reform funds platform management measures", Qingdao City investment should be to win the coast of the compensation fee for the assessment of the record land price of 90%, the total amount of about 736 million yuan. Thus, the total profit of the winning shares increased by about 180 million yuan in 2009. According to the company's 2009 Annual report, the company achieved net profit of 206 million yuan.　　The contribution of Sheng-Tong coast is quite proportional.As a result, many brokerages predict "land sales" will become the company's main source of profits in the future.