Wednesday, May 4, 2011

near the TCL Group, the sources said

Lang Lang
Guangzhou reported
TCL venture County in Xinjiang worship rumors of rare earth project was still . TCL Group (000100.SZ) 5  3 again on that day emergency suspension.
TCL Group, the persons concerned on May 4, said, TCL venture capital has always been very interested in the project on resources, there are currently in operation in Myanmar mineral resources development projects; in Shanxi, TCL joint venture has just invested Magnesium Co., Ltd in Shanxi magnesium alloy development.
Magnesium for joint projects in Shandong, near the TCL Group, the sources said, show that in August 2005 established the United Magnesium Co., Ltd. Shanxi Merrill Lynch has introduced, TCL Group, the day large investment, new sink (Hong Kong) International and other capital, and the TCL Group in 2010 reached 490 million yuan investment in the construction magnesium die casting production line cooperation. The project is an investment of 150 million yuan to build magnesium alloy extrusions, die casting and other production lines, at present, some of the projects into trial production stage has been completed by the end of September last year, its annual output value will reach 500 million yuan.
and mining projects in Burma, TCL Group official said, TCL has set up investment company four funds, the total size of funds under management have more than 6 billion yuan, 9 projects have been cast.
TCL involved in the field of venture capital, including new energy and clean technology,MBT Salama consumer electronics, new materials, the current investment projects through the source of oil, Hairun film and television, YeePay, BesTV, the United Magnesium and a LED packaging company.
TCL Group's 2010 annual report, TCL's venture capital business, begin to exert, holding 51% of its investment through the source of oil on the market and the withdrawal of shares is expected to benefit 70 million TCL, the venture capital business Group is expected to become an important business segment.
venture with Changhong, Haier Group's venture capital more involved in investmentmbt shoes uk projects within the different hatching, TCL sights on venture capital business will be more outside the system project.
TCL Group, declared open to the public when the venture capital industry has been its investment in a limited way, such as: venture capital funds is limited to the free capital of the Company and its subsidiaries, the investment will total no more than 500 million RMB to set up subsidiary companies and a way to raise funds outside its own funds do not take this non-credit, in the amount within the subsidiary companies and venture capital funds can be used for recycling.
TCL Group also claims that venture capital, mainly through cooperation with local governments to guide the Fund and the introduction of a common form of social capital venture fund, the company's main business will not impact on the development will not affect, influence proceeds to the Company.
However, in a series of outside venture capital investment in TCL seems to have some deviation from the main or even worthless, TCL2009 on investment in oil projects in Argentina have been subjected to the independent directors of the opposition,MBT Salama but insisted the venture TCL down, but the TCL Group, the decline in profitability of the main industry is still cause for concern.
TCL chairman Li Dongsheng said that income of less than 1 %。

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