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XINHUA WINSHARE (00811.HK) Transfers 85% Stake in Subsidiary to Controlling Shareholder at RMB116M
XINHUA WINSHARE (00811.HK)  0.000 (0.000%)    Short selling $25.56K; Ratio 1.329%   announced that on 13 September 2017 (after trading hours), the company entered into the equity transfer agreement with Sichuan Xinhua Publishing Group (controlling shareholder of the company), pursuant to which the company shall transfer 85% stake in Beijing Huaying Winshare Movie & TV Culture to Sichuan Xinhua Publishing Group at a transfer consideration of about RMB116 million. 
Upon completion, Beijing Huaying Winshare Movie & TV Culture shall cease to be a subsidiary of the company. Therefore, the financial results of the target company will no longer be consolidated in the financial statements of the company after the completion date.

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