Zhuhai Huafa Purchases Injection-Molding Assets   

Zhuhai Huafa Industrial Co., Ltd. (Zhuhai Huafa, SZ: 000020) announced on June 10th that it had already signed a contract with its controlling shareholder Wuhan Zhongheng New Technology Industry Group Co., Ltd. (Wuhan Zhongheng) on purchasing assets related to the production of injection-molded products from Wuhan Zhongheng with RMB27 million in cash.
   The Injection Molding Plant subordinate to Wuhan Zhongheng is mainly engaged in the press shaping of injection-molded parts. The capacity is 400 000 sets/m injection molding and 450 000 sets/m paint spraying. Leading products include cases of CRT displays and TFT-LCD displays and cases of air conditioners. It is the biggest injection molding plant in central China. According to Zhuhai Huafa the purchase made this time can combine the injection molding business of its controlling shareholder with its own injection molding business, facilitate the expansion of the injection molding scale, increase the product variety, strengthen the ability of withstanding market risks and upgrade the profit-earning capability of the injection molding business.
   Zhuhai Huafa completed the major equity reformation in 2007. Wuhan Zhongheng announced in 2007 that it planned to put assets related to the injection molding business and 70% equity it held in Wuhan Hengsheng Photoelectric Co., Ltd. into Zhuhai Huafa.
   Zhuhai Huafa is a housebuilding company located in Zhuhai, Guangdong province.