IDG inje Submersible pump cts RMB 44.12 mln into China CYTS Tours unit
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IDG injects RMB 44.12 mln into China CYTS Tours unitPublished: 01 Jul 2009 19:36:56 PST

Top 5 News From ChinaKnowledge.comMainland investors now allowed to invest in 100 sectors in TaiwanFranshion Property acquires land at record price in BeijingStandard Chartered in talks to buy RBS's China, India assetsCNPC buys 82.18% stake in Golden Harbor TrustIntel expects IT industry recovery in China in H2 Jul. 2, 2009 (China Knowledge) - International Data Group (IDG), a global technology media, research, event management, and venture capital organization, will inject RMB 44.12 million into a subsidiary of China CYTS Tours Holding Co Ltd<600138>, a leading tourism firm in China, sources reported.

After the capital injection, the subsidiary, which is headquartered in Wuzhen Town, Tongxiang City, Zhejiang Province, will have a registered capital of RMB 294.12 million compared with the previous RMB 250 million, and will be a Sino-foreign joint venture.

China CYTS Tours will hold a 51% stake in the subsidiary. A Wuzhen Town-based firm will hold a 34% stake and IDG's two subsidiaries, Hao Tian Capital I Ltd and Hao Tian Capital II Ltd, will hold a 5% stake and a 10% stake, respectively.

Reportedly, China CYTS Tours recorded net profit of RMB 33.29 million in the first quarter of this year, a year-on-year increase of 2.5%. Earnings per share were RMB 0.08. In the first three months, the firm's total operating revenue hit RMB 853.77 million, whereas it reaped RMB 927.74 million in the same period of last year.



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