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Phoenix Publishing & Media to Acquire 51% Equity in OneSoftJIANGSU, Mar 15, 2012 (SinoCast Daily Business Beat via COMTEX) -- Jiangsu Phoenix Publishing and Media Corporation Limited (SHSE: 601928) has planned to allocate CNY 77.265 million and acquire 51% equity in Xiamen OneSoft Co., Ltd. through its subsidiary Jiangsu Phoenix Vocational Education Books Co., Ltd. (transliterated). In detail, Jiangsu Phoenix Publishing and Media will invest CNY 80 million in Jiangsu Phoenix Vocational Education Books. CNY 77.265 million of the total investment will be used for the acquisition mentioned before, and the rest investment for the replenishment of circulating fund in Jiangsu Phoenix Vocational Education Books. The action will help accelerate digitalization restructuring and promote the digitalization of vocational teaching materials, according to the parent company. After the acquisition, Xiamen OneSoft, based on its technological advantages coming from previous shareholders and dominant positions in Jiangsu market, will be expected to achieve good performances in sales and profitability. That is to say, the company is expected to see CNY 510.6321 million total sales value, CNY 144.7397 million net profit from 2012 to 2016. Meanwhile, the sales net profit margin is reckoned to be 28.35%, and the annual average rate of return on investment is guessed to reach 19.11% in the coming 5 years. Xiamen OneSoft is a high-tech software company developing 3D interactive visual real teaching and practical training technologies. It is the only company cooperating with the Central Institute for Vocational & Technical Education (CIVTE) of the Ministration of Education. The company has independent intellectual property right in online virtual real system engine. Source: www.cnstock.com (March 15, 2012) |