Boshen Tools Transfers Two Companies' Equity Return to Main Business

Abstract Today, Boshen Tools (002282) announced that the company will transfer 50% of the equity of Shijiazhuang Tiantong Automobile Manufacturing Co., Ltd. to Hebei Handing Real Estate Development Co., Ltd. at a price of 90 million yuan; at the same time, the company will hold Shijiazhuang Tiantong light car...
Today, Boshen Tools (002282) announced that the company will transfer 50% of the equity of Shijiazhuang Tiantong Automobile Manufacturing Co., Ltd. to Hebei Handing Real Estate Development Co., Ltd. at a price of 90 million yuan; at the same time, the company will hold Shijiazhuang Tian The 100% equity of the same light vehicle company was transferred to Hebei Xinyue Investment Co., Ltd. at a price of 20 million yuan.

For the transfer of the shares of Tiantong and the two companies, Boshen Tools stated that the equity assets are not related to the main business of the company, and the transfer of the assets is beneficial to the company to continue to do the main business and optimize the company's asset structure. According to the company's announcement, the above equity transfer will increase the net profit of Boshen Tools in 2012 by approximately 25.76 million yuan.

Another announcement issued by Boshen Tools on the same day said that on December 10, the US Department of Commerce announced the results of the second annual administrative review preliminary ruling. The company obtained a separate tax rate of 35.09%, which will reduce the company's 2012 net profit by approximately 18 million. yuan.

In this regard, the relevant person in charge of Boshen Tools said that the diamond tool production base invested and built by the company in Thailand has been put into production, which will fundamentally solve the anti-dumping risks faced by the company.

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