Xinhua Winshare (HKG:0811) to Sell Stocks in Chengdu Xin Hui


Xinhua Winshare Publishing and Media (HKG:0811) proposes to dispose of its 28.5% equity interest in Chengdu Xin Hui Industrial Co., Ltd., which has been approved by the Sichuan SASAC and other competent authorities.

The disposal will be made by way of public tender auction listing procedures conducted in strict compliance with relevant PRC laws and regulations in relation to transfer of state-owned assets. The reserve price for the selling interest will be determined with reference to the appraised net assets value of Chengdu Xin Hui.

Chengdu Xin Hui, currently owned as to 62.5% by Xinhua Winshare Publishing and Media and 37.5% by Chengdu Hua Sheng (Group) Industry Co., Ltd., is mainly engaged in real estate development and operation as well as property management. Chengdu Hua Sheng Group is entitled to the pre-emptive rights to purchase the selling interest on same terms and conditions pursuant to the PRC laws and regulations.

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