Rongshida transfer of entire equity interest of two companies listed price of 3.08 million and 5.1 million

China Rongshida Group in Hefei, the transfer of listed equity trading center in Hefei Rongshida held by New Energy Co., Ltd. and Hefei Rongshida Electric Co., Ltd. 100% state-owned stake in listed prices of 308 million and 5.1 million yuan.
Rongshida new energy company was founded in December 22, 2003, operating range of polymer lithium-ion batteries and related materials, VGP-BPS9 battery , VGP-BPS9/B battery and the supporting equipment research, development, production, sales and import and export. Public information, the company produced polymer lithium-ion battery, its products have thin, light, any shape, safety, environmental protection and other unique advantages, can be widely applied to mobile communications, laptop computers, mobile multimedia players, camcorders, digital cameras, miner’s lamp, electric vehicles, portable satellite positioning systems, power tools, and military fields and other mobile devices. In 2008 successfully developed a polymer lithium-ion battery electric vehicle. Business relative to the current market, the ordinary lead-acid batteries, polymer lithium-ion Sony laptop battery has a long life (which is three times the normal lead-acid batteries), speed fast (faster than lead-acid batteries 15%), driving distance is long (more than lead-acid batteries is far 10 km or so), charging time is short (only 6-8 hours) and so on.

Financial data shows that the situation is not optimistic about the company. As of May 31, 2009, its total assets of 9.8754 million yuan, the owner of rights and interests of 5.2832 million yuan, the main business income was only 2.3764 million yuan, net profit, compared with -610.964 million.

The project intention of the transferee should have the basic conditions are not special provisions only require the registered capital of no less than one million yuan, with a good business credit, financial condition, bank credit and cash payment capabilities. However, the requirement of intent transferee commitment: not to change the registration of the transfer of the target company and the corporate entity status; the transferee a new body after three years, pay taxes in the Hefei average of not less than the target enterprise’s 2008 annual payment of the amount of 400,000 yuan; transferee after the new body to continue to engage in research and development of new energy materials, production and sales. In addition, since the effective date of the contract of assignment of property rights, the three years in the Hefei new capital investments of not less than three million yuan.

Hefei Rongshida Electric was established in April 2, 1998, business scope, including power cords, harnesses, patch cable, plastic cable, enameled wire, and other high-tech products, production and sales.