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Dongfeng Motor transfer equity 16.55% of Xiangfan Fengshen Motor

Jorvan From Gasgoo.com| March 20 , 2007 15:03 BJT

Dongfeng Automobile Company will transfer 16.55% shares of Xiangfan Fengshen Motor Company; the transfer price will be no less than 166 million Yuan.

Xiangfan Fengshen Motor Company, founded in 2002, is located in Xiangfan High-tech Development Zone, with a registered capital of 826 million Yuan.

The company business covers main auto parts product development, manufacturing and production of parts and components for Dongfeng Motor. There are three shareholders; Dongfeng Motor Co. Ltd. funded 750 million Yuan, accounting for 90.08% of registered capital.

The asset appraisal report of China Zhong He Appraisal Company: Xiangfan Fengshen Motor Company total assets were 1, 7498606 billion; net assets were 839.947 million Yuan.

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