15FAW Xiali FAW TOYOTA intends to sell 15% stake in cash 2 billion 500 million Sohu securities|FAW Xiali FAW TOYOTA intends to sell 15% stake in cash 2 billion 500 million Sohu securities9

FAW Xiali FAW TOYOTA intends to sell 15% stake in cash 2 billion 500 million Sohu securities extension motion was not resolved with the competition, FAW Xiali today released a major asset sale plan, the company intends to shareholders Chinese first auto Limited by Share Ltd (hereinafter referred to as "FAW shares") to transfer its holdings of Tianjin Faw Toyota Motor Co (hereinafter referred to as "FAW TOYOTA") 15% stake in the equity the price of 2 billion 561 million yuan, the FAW shares will pay for the price in cash. Before the transaction, FAW Xiali FAW and FAW TOYOTA shares were holding 30% and 20% of the shares, after the completion of the transaction, the two held by the FAW TOYOTA’s shares were changed to 15% and 35%. According to the disclosure, the FAW TOYOTA as of December 31, 2015 the total assets of 12 billion 416 million yuan, calculated according to the transaction intends to transfer the equity ratio of the assets to be sold the corresponding amount of assets of 1 billion 862 million yuan, the same period for FAW Xiali 5 billion 904 million yuan of total assets 31.54%. Contribution from the performance point of view, FAW TOYOTA has been an important source of income for listed companies. Data display, FAW TOYOTA 2015 operating income was 45 billion 32 million yuan, calculated according to the transaction intends to transfer the equity ratio of the assets to be sold the corresponding business income is 6 billion 755 million yuan, the same period is 198.42% of listed companies operating revenues. FAW Xiali during the first half of this year’s report shows that the first half of the investment income of about 244 million yuan, mainly from the FAW TOYOTA "contribution". Therefore, before the transaction, FAW Xiali during the first half of 2016 net loss of 519 million yuan, after the transaction, pro forma net loss over the same period will be expanded to 638 million yuan (not considering equity transfer caused by the huge one-time investment income, the same below); moreover, if the transfer of part of the shares of the company last year, the the 2015 pro forma net profit from profit into a loss of 223 million yuan. For why should we sell these assets, FAW Xiali said: after the completion of the equity transfer, the company asset size increased, increase income; at the same time, the transaction is a cash payment, the company obtained a certain scale of cash, improve cash flow, help the company into the new product development of the follow-up. FAW Xiali the changes in equity, the earliest can be traced back to June 2011. At that time, FAW Group restructuring of FAW shares. In order to solve the competition, FAW shares to the FAW Xiali commitment, in the five years after the establishment of the asset reorganization and integration or otherwise belongs to the car manufacturing business, and to solve the FAW Xiali competition problem. Five years later, in June 28, 2016, FAW has asked the east to give the additional time of the year to solve the problem of competition with the industry, which means that the overall listing of the FAW Group will be delayed for three years by the year of. This caused a great disturbance in the capital market, and rejected by the general meeting of shareholders. Up to now, how to solve the competition with the industry, the company has not given a clear plan. When answering questions from investors, executives said: FAW shares have been closely tracking the general meeting of shareholders and the views of shareholders;