The board had evaluated various alternatives and had concluded that the Share Acquisition was the most efficient method that was also acceptable to the shareholders of Dongguan Fuan, to enable the Group to access the cash generated from the transaction under the Property Agreement as soon as it becomes available.
For the period under review, due to a weaker economy as well as the reduction in capacity due to the reduction of capacity in Dongguan, revenue from the production and sales of dyed fabrics, sewing threads and yarns was approximately HK$2,086,687,000, a decrease of 24.0% as compared with the same period last year, and accounted for 83.9% of the Group's total revenue. For the first half of financial year 2009, revenue from the production and sales of garments reached approximately HK$401,632,000, an increase of 22.8% as compared with the same period last year, and accounted for 16.1% of the Group's total revenue.
Looking forward to the second half of the Group's financial year of 2009, Click here for more detilas.
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