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CEC Completes Nanjing Panda Restructuring
May 17, 2007 |
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| Category: Gadgets & Electronics
China Electronics Corporation, China's State-owned Assets Supervision and Administration Commission, and Jiangsu Guoxin Investment Group have jointly announced the licensing of Nanjing CEC Panda Information Industry Company, which means a completion of CEC's regrouping of Nanjing Panda.
Nanjing CEC Panda Information Industry Company, which has been jointly invested in by CEC, Jiangsu Guoxin Investment Group and Nanjing Municipal State-owned Assets Supervision Administration, has a registered capital of CNY1 billion, with CEC holding a 70% stake and SASAC and Jiangsu Guoxin each holding 15%. It will be a flagship firm for CEC's future development in the Nanjing area.
CEC currently includes 11 listed companies as part of its group. With the addition of Nanjing Panda Electronics and Nanjing Huadong Electronics, this figure is expected to rise to 15.
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