SVA announced that it will sell off a 45%
interest in Novel Color Picture Tube and the entirety of SVA's assets in its
electronics and tube branches, reports the Beijing
Times. SVA will thus leave traditional TV manufacture and throw its assets
into the LCD marketplace. Novel's revenue from CRT sales makes up roughly 80%
of SVA's total operating revenue. In the first half of 2005, SVA lost 130
million yuan (US$16.0 million), a performance drop of 259%, mostly because of a
contracting CRT sector. The base price for the sale is set at 1.77 billion yuan
(US$219 million) for 45% of Novel and 90.3 million (US$11.1 million) for the
electronics assets. Currently SVA and BOE Technology are the only two domestic
companies with LCD panel production lines.
Link:
http://www.bjt.net.cn/news.asp?newsid=128450