1.Name and nature of the subject matter
(e.g.land located at
Sublot XX, Lot XX, North District, Taichung
City):1-2 Floor , Building 1 ,
Xintuo Garden, Binhe avenue Futian District
,Shenzhen City , China .
2.Date of the occurrence of the
event:2017/10/24
3.Transaction volume (e.g.XX square meters,
equivalent to XX p'ing),
unit price, total transaction
price:Building: 2,861.09 square meters.
unit price: RMB $33.553.6, Total
transaction price: RMB $ 96 million
4.Counterparty to the trade and its
relationship with the company (if
the trading counterpart is a natural person
and is not an actual
related
party of the Company, the name of the
trading counterpart is not
required to be disclosed):Government
Property Management Center of Futian
District in Shenzhen.
5.Where the counterpart to the trade is an
actual related party, a
public announcement shall also include the
reason for choosing the
related party as trading counterpart and
the identity of the
previous owner (including its relationship
with the company and
the trading counterpart), price of transfer
and the date of
acquisition:NA.
6.Where a person who owned the property
within the past five years has
been an actual related person of the
company, a public announcement
shall also include the dates and prices of
acquisition and disposal
by the related person and the person’s
relationship to the company
at those times:NA.
7.Anticipated loss or profit from the
disposal (not applicable in cases
of acquisition of assets) (where originally
deferred, the status or
recognition shall be stated and
explained):The profit from the disposal is
around RMB $ 60 million before tax.
8.Terms of delivery or payment (including
payment period and monetary
amount), restrictive covenants in the
contract,
and other important stipulations:Payment
which applied according to the
contract signed.
9.The manner of deciding on this
transaction (such as tender invitation
, price comparison, or price negotiation),
the reference basis for the
decision on price and the decision-making
department:
The manner of deciding on this transaction:
price negotiation
The reference basis for the decision on
price: Appraisal report provided by
the asset evaluation company.
The decision-making department: Board
meeting
10.Name of the professional appraisal institution
and its appraisal
amount:The professional appraisal
institution : Shenzhen Enterprise
Appraisals LTD ,The appraisal amount: RMB $
85 million ~ RMB $ 91.4817
million.
11.Reason for any significant discrepancy
with the transaction amount,
and opinion of the certifying CPA:NA.
12.Is the appraisal report price a limited
price or specific price?:NA.
13.Has an appraisal report not yet been
obtained?:NA.
14.Reason for an appraisal report not been
obtained:NA.
15.Broker and broker's fee:Payment which
applied depending on the commission
contract signed.
16.Concrete purpose or use of the
acquisition or disposal:To adjust Test-Rite
group’s Asset allocation.
17.Do the directors have any objection to
the present transaction?:NA.
18.Any other matters that need to be
specified:NA.