Xibei Bearing Stock Release Another Share Transfering

Resource from: cbcc-yinx Likes:2951

Jan 29,2007

Xibei Bearing Stock Release Another Share Transfering Xibei Bearing Stock Co.,Ltd (stock code:000595) released an official statement on Jan. 27, saying that according to the verdict by the People's Court in Ningxia Huis Autonomous Region, their second largest shareholder, Xibei Bearing Group, repay the loan of RMB49.5339 million by transfering 28.6323 million holding shares to China Great Wall Asset Management Corporation(hereinafter refered to as Great Wall Asset). After this transfer, Great Wall Asset has held 81.9174 million shares of Xibei Bearing Stock, accounting for 37.78 percent of its total shares. While, shares contoled by Xibei Bearing Group are no more than 1 percent of the total.

(cbcc-yinx)

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