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OCT responded to rumors that it would not transfer Konka's equity after the overall listing

http://www.sina.com.cn 03:08, November 2, 2007 China Business Daily

Liang Zhenpeng

Yesterday, Liu Pingchun, the vice president of OCT Group, made an official response for the first time to the recent rumors that "OCT Group intends to transfer Konka's equity".

Yesterday, at the "Overseas Chinese Town Group Tourism Promotion Conference" held in Beijing, Liu Pingchun told the First Business Daily that as the largest shareholder of Konka Group Co., Ltd. (hereinafter referred to as "Konka", 000016. SZ), the Overseas Chinese Town Group is very optimistic about the development prospects of the consumer electronics industry while vigorously developing tourism and real estate industry, We are very confident about the growth prospects of Konka's business. Therefore, OCT Group has no plan to transfer its equity in Konka.

  

OCT The Group has three listed companies at home and abroad, OCT Holdings (000069. SZ), OCT Asia Holdings (3366. HK) and Konka, as well as a series of well-known domestic enterprises and product brands. Recently, OCT Group is preparing for the overall listing.

Liu Pingchun said that OCT Group has decided to integrate the main business assets related to tourism and real estate into the capital platform of OCT Holdings to achieve the overall listing of the group's main business. However, the specific business scope and asset projects that can be incorporated into OCT Holdings are still under discussion and have not been finalized.

Liu Pingchun claimed that even after the overall listing of OCT Group, he would not believe that its tourism, real estate and consumer electronics businesses would conflict with each other, and would not transfer its shares in Konka at that time.

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