ETI Adjusts The Share Transfer Price Of Its Subsidiary, Focus Lightings Receives Dividends

- Jun 25, 2018 -

The transfer price of the equity of the wholly owned subsidiary of ETI was adjusted to 2.36 billion yuan


Recently, ETI(hereinafter referred to as "the company") issued an announcement that the company plans to adjust the transfer price of 100% equity of wholly-owned subsidiary ETI International (Hong Kong) Co., Ltd. (hereinafter referred to as "Hong Kong ETI"). It was RMB 236,488.65 million.


According to the company's December 2017 announcement, the company plans to transfer 100% equity of Hong Kong ETI to another wholly-owned subsidiary of the company Zhuhai ETI. (hereinafter referred to as “Zhuhai ETI”). Equity transfer was carried out by means of a fair value transfer method. Based on the net assets per share as of September 30, 2017, the transfer price was RMB 200,079.44 million. After the completion of the transfer, the subsidiary company of DHL, which is 100% owned directly by the company, becomes a 100% subsidiary of the company.


ETI stated that at the individual reporting level, the book value of the company's individual report on Hong Kong's ETI has so far reached a value of 2,776,541,400 HKD, which was equivalent to approximately RMB 236,488.65 million after conversion at the time of each investment. . ETI transferred the 100% equity of Hong Kong ETI to Zhuhai ETI at the original price of RMB 200,7,749,400. The profit and loss of disposal of this equity investment reflected in the single report of ETI will be -36,413.71.


After communicating with the tax authorities, in order to avoid significant losses in the ETI single report, the company intends to adjust the transfer price of 100% equity of Hong Kong ETI to RMB 236,488.65 million after careful consideration and comprehensive consideration by the company. The book value of ETI Investment in ETI monomer report. After adjusting the transfer price of 100% equity of Hong Kong ETI. to RMB 236,488.65 million, the profit and loss of this equity investment disposal reflected in the single report of ETI will be 0 yuan.


It is reported that Zhuhai ETI is mainly engaged in the production and operation of the company's small household electrical appliances. Hong Kong ETI is the main body of the company's small home appliances export business. This equity transfer is to rationalize the structure of the export of small household appliances, is the company's internal The need for resource integration and optimized governance structures.


The company stated that after the adjustment of the equity transfer price, it will not adversely affect the company's financial status and operating results, nor will it harm the interests of the company and its shareholders.


Focus lightings received a total of 11 million dividends from its wholly-owned subsidiary


Recently, focus lightings (hereinafter referred to as "the company") issued an announcement that the company recently received a total of 11 million yuan in 2017 from the wholly-owned subsidiary Suzhou focus lightings Energy Management Co., Ltd. (hereinafter referred to as "focus lightings Energy").


According to the announcement, focus lightings Energy is a wholly-owned subsidiary of the company within the consolidated financial statements. The company holds 100% of its shares and distributes it to the company based on the undistributed profits as of December 31, 2017 of 11.5192 million yuan. Cash dividend of 11 million yuan.


The company stated that the aforesaid profit distribution will increase the net profit of the company's parent company in 2018, but it will not increase the net profit of the company's consolidated statement in 2018. Therefore, it will not affect the overall operating performance of the company in 2018.


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