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SYP signed an asset management contract with E Fund

Post Time:Apr 24,2008Classify:Company NewsView:297

On the evening of April 23, SYP announced that the company recently had signed the contract of asset management with E Fund Management Co. Ltd. and Bank of China Limited.

The company said, according to the "Finance And Investment Programme" approved in the 13th meeting of the 5th board meeting of Shanghai Yaohua Pilkington Glass Co., Ltd., the company recently had signed the contract of asset management with E Fund Management Co. Ltd. and Bank of China Limited. The company will receive the income by the operation of the commissioned asset investment according to the contract and carry out private financing by paying related costs, with entrusted assets 200 million Yuan. The contract is valid for one year from the establishment of the contract.

The market movement of 2008 is difficult to copy that of 2007, that is to say there are risks of this financing. On the other hand, there are a lot of spare funds not invested so that the company’s market prospect will not greatly change.

Last year, the company's growth of non-operating income was the main factor of performance growth. In 2007, the company gained non-operating income 152051242.31 Yuan, of which 142496773.19 Yuan was mainly gained from the proceeds of assets relocation and liquidation. The increase in non-operating income resulted in a substantial growth of gross profit and net profit of the company.

On the one hand, in 2007, in process of business integration, the company was stable in production and operation. With the completion of SYP Kangqiao Auto Glass expansion project on March 2008, the production capacity of auto glass has increased from the present 800,000 sets to 120 million sets. By then, the competitiveness of the company will be upgraded.

Source: GlassInChinaAuthor: admin

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