Company: do not peel Pune assets
"Daily Economic News" reporter access to information found, the equity transfer Fourth Harbin High-Tech to sell stake in Pune Solar, in December 2010, Harbin High-Tech $ 1.3 million stake sale to Huzhou City Donghu Industrial Company, the sale price equivalent to 45.474 million yuan; Harbin High-Tech announced in April 2011, the company at $ 5.3 / share price, respectively, to the Blue Mountain Investment Co., Ltd., two companies total $ 1.7 million equity transferred, the transfer of a total of $ 9,010,000; October 2011 Harbin High-Tech again to 31.5 million yuan for sale $ 900,000 equity in Pune Solar.
Which Pune solar cell stake sale is completed in April, Harbin High-Tech again invested $ 6,000,000 in accordance with the price of $ 1.6 / share capital increase to Pune Solar, the same high selling equity, low access equity.
As Ha tech soybean processing business in recent years, business has been bad, Harbin High-Tech annual report shows that 2010, 2011 net profit of 13.7 million yuan and 21.5 million yuan, equity proceeds obtained above transfer Pune Solar Company to maintain the profitability of the main factors. According to the company announcement the the transfer of ownership is expected to be completed in the year 2012, and will allow the company 2012 annual profit is expected to increase to about 64.5 million yuan, 32,999,800 yuan as of Harbin High-Tech net loss in the third quarter of this year.
Harbin High-Tech Office of the Board of Directors of the sources told the "Daily Economic News" reporter, also taking into account the 2012 losses for this purpose, the transaction is expected sale of shares to the completion of the 2012 years, but the transfer of shareholding in Pune Solar equity capital increase transaction may be completed in the first half of 2013.
"According to the agreement of the original convention, Harbin High-Tech total twice to enjoy the right of capital puni solar panel Therefore, the capital Harbin High-Tech Pune solar right of capital has been used up," the Office of the Board sources said.
For sell equity why the two can be high and low to buy equity, explained that the directors do people, This is like venture capital, Pune Solar was first established, the company faced a higher risk of Harbin High-Tech took the risk in the early in the original agreement have agreed on the cheap right of capital, with the Pune Solar development become clear later investors certainly will not enjoy the early low equity.
The Office of the Board of Directors who last told reporters, Harbin High-Tech firmly optimistic about the prospects of Pune Solar impossible to asset stripping, soybean processing business of the company itself after the early rectification, the rectification effect also gradually emerging