Zhejiang Guangsha investment income received 270 000 000

 Zhejiang Guangsha today disclosed the transfer of home equity, and to publish results for the year 2010, pre-cut announcement.

announcement said the company on January 26, 2011 meeting of the Board of Directors reviewed and approved the company held the blue and white Dongyang City Properties Limited 100% of the equity transferred to Zhejiang Teng Properties Limited . Assessment of the underlying value of the transaction, based upon mutual consultation, home of 39.4865 million yuan in the clouds Teng home buyers repay the debt after the Chinese and the company to the price of not less than 370 million yuan will be transferred to the subject of the transaction set in the Tang industry. The company received the money 50%, with the completion of transfer formalities, will still do the appropriate security options, all payments received after the lifting of hypothecation. The share transfer book deal is expected to bring investment income for the company about 270 million yuan.

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Zhejiang Guangsha today also released the 2010 Pre-cut announcement of annual results, the company's financial department to preliminary estimation, the year 2010 is expected to net profit attributable to shareholders compared with the previous year by 50% or more. Company said results of pre-reduction can be carried forward due to lower real estate income, equity investment income less transfer.