Xinhua Holdings Ltd to Sell Business of Subsidiary and Expects Extraordinary Profit for Q4 of FY 2012

Monday, 17 Dec 2012 04:40am EST 

Xinhua Holdings Ltd announced that it has decided to sell America business of a subsidiary Stone & McCarthy Research Associates, Inc., at the price of USD 670,000 to Stone & Kanto, LLC, which is engaged in the provision of economic research services in the United States, on December 20, 2012. As a result, the Company expects the extraordinary profit of USD 548,000 caused by sale of business of subsidiary, for the fourth quarter of the fiscal year ending December 2012. 

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