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Huamao Shares (000850): It Intends To Dispose Of 30% Stake In Lihua Cotton Industry And Zhongtai Haihua By Means Of Directional Capital Reduction And Equity Transfer.

2020/4/22 12:03:00 2

Huamao SharesTextile StocksThe Latest Announcement

000850.SZ April 21st announced that the sixteenth session of the seventh board of directors of the company was deliberated and approved. In view of the needs of the company's overall business integration and risk control considerations, it intends to dispose of the 30% equity interests of Xinjiang Lihua (Group) Limited by Share Ltd and Xinjiang Zhongtai Haihua agricultural investment limited by directional capital reduction and equity transfer.

The Lihua cotton industry was established in August 2004. It is currently a state-level agricultural industrialization key leading enterprise mainly based on agricultural cultivation, agricultural products (000061, stock bar) processing and sales, and the share reform system was completed in August 2011. China and Thailand Haihua, founded in November 2017, was established by the original shareholders of Lihua cotton industry in accordance with their respective shareholding ratios. The registered capital is 100 million yuan. Up to now, the shareholders have not fulfilled the actual investment from China and Thailand, and the company has not included the investment in China and Thailand into the long-term equity investment subjects.

The disposal of shareholding shares will increase the company's operating profit in the first half of 2020 by 33 million 719 thousand and 800 yuan.

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