Little Swan Washing Machine planned reorganization will become the platform for
Small Swan as the core, Little Swan, Midea Group, Rongshida, the three major U.S. brands
Washing machine
Troops in the capital level business integration.
Little Swan, Midea both suspension
Wuxi Little Swan Company Limited (the "Little Swan"), announced on the day before yesterday evening, the company will hold a Board of Directors considered the assets restructuring plan, the company shares will be disclosed after a major asset restructuring plan to resume trading. Affected by this, Little Swan, and controlling shareholder of both the United States electrical Zuoqi suspension, suspension of not more than 15.
Little Swan announced that the company will be in the period in accordance with the "significant asset restructuring of listed companies management approach" and other relevant provisions of the reorganization of assets held in the Board considered the plan, shares will be disclosed after a major asset restructuring plan to resume trading.
Fails to convene a board of directors considered the period of significant asset restructuring plan, Little Swan shares no later than 21 October to resume trading, and trading in the stock recovery plan within three months after a major reorganization of assets no longer matters.
Suspended recently in the market, said news that U.S. industrial washing machine that will speed up its integration plan, the core program is a small swan in cash, and gradually acquired the assets Rongshida washing machines and operations, and established the integration is completed the first year, Little Swan and Rongshida washing machine business, to achieve more than 350 million yuan net profit target.
Merchants Securities
Home Appliances
Industry analysts refer to completion of rock, Little Swan is the key asset restructuring plan assets valued Rongshida washing machines, and Little Swan, Midea in an increase in the proportion of the number of shares. U.S. group to respond to the above comments are not the U.S. Secretary of Li Feide electrical board, said restructuring plan being developed, the results when the subject of a listed company announcements.
Washing machine washed million units next year, overall sales
2008 4 months, Little Swan, Midea acquired 24.01% stake, making it the largest shareholder. Midea Little Swan was elected president and then chairman of Hong-Bo Fang.
White Little Swan, the U.S. electrical appliances will be re Little Swan brand positioning as the high-line, fully automatic washing machine sustained development, vigorously develop
Washing Machine
Business.
Addition, Midea also adopted a wholly owned subsidiary Titoni Investm ents D evelopm entLtd. Possession of small swans B shares, representing Little Swan 5.63% of total share capital, that the United States electrical direct and indirect holding Little Swan 29.64 % of the shares.
Addition to Little Swan, Midea's businesses include washing machines, Hefei Rongshida laundry equipment company. In August 2009 to complete the public issuance of, the United States to raise 2.978 billion yuan of electrical use is one of Hefei Rongshida laundry equipment company acquired the remaining 25% stake.
Little Swan has repeatedly stressed that the washing machine business, Chairman Fang Hongbo "Little Swan mainly beauty supplement" ideas. Currently, the U.S. group's beautiful, and Little Swan Rongshida three brands of washing machines
Sell
Sector, supply chain, manufacturing and R & D department has completed the integration, "the implementation of a team, unified management."
And the beauty of both suspension and Little Swan, which means the capital level of integration start??? America's electrical business is likely to be full integration of its washing machines to Little Swan.
Fang Hongbo said the United States this year, the group sold the washing machine up to 7.5 million units, the impact of 10 million units next year. In 2008, this number 400 million.
The last trading day before the suspension, to close at 8.93 yuan Little Swan, up 3.96%, the United States to close at 17.3 yuan appliances, up 3.84%.
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