DECEMBER 26 -- BOE Technology Group (000725) said it had obtained two billion yuan from Beijing Industrial Development Investment Management and Beijing Haohua Energy Resource (601101) for the transfer of an equity stake, reports 163.com, citing a company filing.

The company had announced in October that it will sell its entire 80 percent stake in Erodes BOE Energy Investment for a total of 3.6 billion yuan, with payment to be received by the end of September 2012.

BOE Technology Group will soon be given a delisting warning by the Shenzhen Stock Exchange as it had recorded losses for two consecutive years.

The company, which had recorded rapid growth for three years after its listing in 2001, began to post poor operating performances since 2004. It incurred losses of 757 million yuan in 2009, and 2.08 billion yuan in 2010.

BOE Technology Group anticipates a loss of 3-3.2 billion yuan for full year 2011, according to its third-quarter report.

The company filed on December 22 that a total of 2.99 billion restricted shares from a private placement will be unlocked today.
 

Source:www.capitalvue.com