LIANHUA SUPERMARKET INCREASES HOLDING IN 2 SUBSIDIARIES
AsiaInfo Services, August, 2006
AsiaInfo Services 08-24-2006 Lianhua Supermarket Increases Holding in 2 Subsidiaries SHANGHAI, Aug 24, 2006 (SinoCast via COMTEX) -- Shanghai Industrial Holdings Limited (SIHL) on August 22 announced that it will sell 22.21% of its shares in Shanghai-based Century Lianhua Supermarket Development Co Ltd, as well as 18.18% of shares in Lianhua E-commerce Co to Lianhua Supermarket Holdings Co Ltd, for respectively CNY 26.9 million and CNY 17.9 million. After the deal, Lianhua will see its holding in Century Lianhua increase to 77.91%, while in Lianhua E-commerce to 57.27%. Century Lianhua operates 32 large-sized supermarkets in the mainland.
As of the end of this June, it registered audited net assets of CNY 121 million. Last year, it posted post-tax net profit...
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