Sold 250 million shares of Stone would definitely quit Sina Sina

Stone finally to "opt out" Sina has taken a key step - Stone Group Holdings recently held its Extraordinary General Assembly, through the authorized management to sell in the market of 250 million shares of Sina shares held, representing the entire issued share capital of about 4.96%.

However, the official said, there is no plan to sell at any time or any shares in the group did not receive a grand or any person the shares to their contact.

鈼?total of nearly 200 million U.S. dollars cash

In fact, this year in February, the wind in the most compact Sina shares big time, Stone Group Holdings had issued a notice said it will sell all of Sina shares held by hand, even a rumor that the grand secret has four-way contact. Although the four-way head of the section of Wing Kei since repeatedly denied the "intent to sell," but the industry generally believe that this is just a smoke bomb.

According to industry calculations, according to Sina on February 28 ended within six months of the average closing prices, the four-way sale of these shares will receive 72.99 million U.S. dollars in revenue. Before that of February 2003 to February 2004, Stone had 15 shots and has cash Sina shares, total access to more than 100 million U.S. dollars in revenue. This means that nearly a year ago, Stone shares from Sina's cash amount to nearly 200 million U.S. dollars!

However, the four-way board of directors is expected to present to sell the remaining shares of Sina, may have a negative impact on the Group, but the next sale will not result in financial impact on the Group.

鈼?Sina was a four-way "cash cow"

The Stone and the section of Wing Kei, the Sina may be a most rewarding investment.

This Just look at Stone Group Holdings Interim Report 2004 know: the first half of 2004, Stone Group Holdings's operating profit was only more than 2900 million, and obtained through the sale of SINA shares of non-operating income reached 101 million Hong Kong dollar. This shows that Sina as if Stone's "cash cow."

Concerned that if the attention of Stone Group Holdings's financial statements and earnings will find that Stone's income statement within operating income is the loss of basic, mainly by operating income to cover, but the source of operating revenue is the sale Sina Equity investment income received. Obviously, Duan Yongji been using investment income to subsidize the Stone Sina, even in supporting Stone quite to this day.

鈼?relatively calm response to the relevant market

Perhaps the market had anticipated a four-way sale of SINA shares, the reporter found yesterday, the Nasdaq stock market, Sina, and no significant change: the U.S. local time on April 12 closing price of 29.43 U.S. dollars, more than 5 days fell about 6% before the decline, the performance was still fairly steady. The Stone Group Holdings in Hong Kong-listed shares, almost unchanged.






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