FSL enjoy the national hi tech backdoor revenue earn hundreds of millions of dollars

Released with China Xuan tech backdoor Dongyuan electric project, FSL finally going out". 2010 7 shares of the country Xuan hi tech (when the country Xuan Limited), the cost of holding a stake of $160 million, after the completion of the reorganization of the Dongyuan electric appliance will become the third largest shareholder of the shares of the 72 million 685 thousand and 900. If the latest closing price estimates, FSL's stock market capitalization has reached 531 million yuan.

In Dongyuan, the resumption of electrical expectations, FSL shares rose 5.08% yesterday, to close at $13.24 / share. Today, FSL announced that the company received 9 shares of the company in Hefei, China Xuan tech power energy Ag (hereinafter referred to as "China Xuan tech") written notice, China Xuan tech proposed backdoor draft Dongyuan listed Dongyuan electric appliance has been considered by the board of directors. FSL currently holds 14.84% stake in the national hi tech.

According to the Dongyuan electric appliance restructuring plan disclosure, FSL currently holds the national hi tech 30 million shares, representing the total share capital of the latter of the country, the country's largest shareholder of the hi tech, the second. In the Dongyuan electric to issue shares to buy assets of the transaction, the transaction price of FSL's stake to 497 million yuan; after the completion of the restructuring, FSL will acquire Dongyuan electric 72 million 685 thousand and 900 shares, the shareholding ratio of 8.42%, becoming the third largest shareholder of listed companies after Dongyuan Electric's new controlling shareholder of Zhuhai GuoXuan and new actual control Li Zhen.

FSL in July 2010 to 160 million yuan acquisition of China Xuan tech marketing planning Co., Ltd. holds the country Xuan Tech (for "GuoXuan Co.") 20% stake, after the country after several replenishment Xuan tech dilution and equity transfer, the shareholding ratio of FSL dropped to the current 14.84%, holding cost of 160 million yuan has been maintained. If the cost is calculated by the method, compared to the FSL trading on the price of 497 million yuan and the holding cost, net profit of 337 million yuan; if the market value estimated from Dongyuan before the suspension of the latest to close at 7.3 yuan / share, FSL received 72 million 685 thousand and 900 shares corresponding to the market value of about 531 million yuan, net profit of about 371 million yuan.

In fact, FSL almost miss the national hi tech listed feast. After being acquired by FSL, China Xuan Tech in 2010 and 2011 performance is "awesome", gains of 28 million 380 thousand and 48 million 500 thousand yuan, an increase of up to 525% and 70.9%, but in 2012, 5 months before China Xuan tech performance first loss. In August, FSL was planning to hold China Xuan Tech (for "GuoXuan Co.") 17.21% equity (capital diluted) transferred to Xiamen Beijing Road force Tianneng equity investment partnership enterprise and the European engine Anhui hi tech Thai investment partnership, at a price of 256 million yuan. At the time of the assessment in December 31, 2011 as the base date, the evaluation results using the market method, the evaluation results GuoXuan Co. all equity in December 31, 2011 and under the premise of the market was 1 billion 238 million yuan, the book value of 286 million yuan, value-added rate of 333.17%; the corresponding evaluation GuoXuan limited 17.21% equity value of 213 million yuan.

Because FSL owns Foshan Li and other New Energy Company, there are other issues with the competition with China Xuan tech, the equity transfer caused by the Shenzhen Stock Exchange [micro-blog], requiring the same competition, the performance of six major problems of gambling etc.. In addition, the company's board of directors and the national hi tech employment performance commitments did not complete the compensation arrangements have differences, the company's board rejected the transfer of shares. Amazingly, China Xuan Tech in the second half of 2012 performance by leaps and bounds, won consecutive Ankai 200 pure electric bus battery orders, JAC 4000 pure electric car battery orders, a number of large orders, three years total profit 319 million yuan, profit commitment.

Now it seems that 2012 transfer failure for FSL, really is Misfortune may be an actual blessing".

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