Suspend the listing of four years of * ST direction on June 25 disclosure of the "restructuring plan." According to the plan shows that the investor's shares will be adjusted and re-implementation of the plan administrator transfer by re-side potential, the potential re-side the main business for the automotive parts manufacturing priority. The re-implementation of the plan period of six months, from June 24, 2011 the court ruled that the date of receipt is counted.

    To this end, * ST wants to adjust the direction of 456 million shares of liquidity debt, and * ST direction to ensure the completion of the ongoing restructuring of viability, after re-direction optical Hongxiang company holds 65% equity or 100% of the equity. Hongxiang not to dispose of the assets of the company, employees remain unchanged.

    For cash 456 million debt

    May 23, 2007, due to a loss before three years of continuous, * ST direction be suspended from listing. Trapped seriously insolvent, the creditors application Neijiang in hospital after examination on December 7, 2010 ruled that the case of accepting corporate restructuring and liquidation group designated as a manager.

    From the declaration of results, received a total of 36 creditors to file claims manager, to file claims total approximately 21.5 million and $ 18.51 million. Audited, a total of 35 confirmed the declaration of creditors, confirmed total about 20.5 billion and $ 18,510,000. Among them, the priority claims of approximately $ 350 million tax debt about 913 million general claims about 17 million and $ 18.51 million. In addition, the company claims is about 21.12 million yuan of workers.

    The asset valuation point of view, * ST direction of the current book value of all assets of about $ 320 million liquidation value assessment is about 3.3 million.

    From the evaluation results, to restructure the base date of case acceptance date, * ST direction if the bankruptcy liquidation, according to the "Bankruptcy Law" provisions of the liquidation order, the general claims settlement rate of about 2.12%.

    To balance the interests of all parties, * ST direction of the proposed equity adjustment programs, the disclosure of this proposal, will be the total share capital base, capital fund with the first 10 shares by way of 2 shares of total conversed about 6106 million, conversed and transfer of shares held by the Manager; addition to trade unions, other shareholders are free of charge transferring its shareholding to 10%, or 2898 million; In addition, the largest shareholder Norstar Group, transferring ownership free of charge 2 / 3 a total of 3,000 shares.

    Shares after the adjustment, will be used for paying off cash restructuring costs and debt. Based on the assessment, the assessed value of the shares of 3.8 yuan per share, as well as reference * ST direction before the suspension of the price per share 3.82 yuan, the transfer price of not less than 3.82 yuan per share.

    Prices in accordance with this assessment, the parties to sell shares worth about 456 million yuan.

    Return to the auto parts industry

    Sichuan Emei Diesel Engine Co., formerly of * ST direction of the market in 1997, that time, diesel and Weichai Neijiang Mindanao, the wood, Yuchai diesel engine with at the first camp. Ten years later, Weifang, the wood and Yuchai is still sought after in the industry Swordsman lead investor, and Bauer has shown a twilight wood trend.

    All of a sudden edge since 2001, the share transfer.

    January 7, 2001, when he listed the company's largest shareholder-owned Assets Administration and Neijiang Norstar Group of Shenyang, Shenzhen Hui Silver Peak investment company, Chen Austrian Industrial Co., Ltd. Shenzhen State-owned shares and other equity transfer agreement signed Book (draft), it holds about 76.72 million shares fully transferred to the state three companies, which, Shenyang Norstar Group transferee 45 million of the total share capital of 29.52%, a listed company's actual controller. Therefore, the direction of a listed company renamed the optical.