Beijing Red Lion Buys Back Equity

摘要

The Board of Directors of Shanghai Fenghua (Group) Co.,Ltd.(600615) announced on January 16th,2006 that it has permitted Beijing Red Lion Coatings Co.,Ltd.to complete the relocation plan within an investment of RMB96.76 million and also agreed on principle to the proposal submitted by Beijing Red Lion Coatings Co.,Ltd.to buy back the 25% equity held by Akzo-Nobel International Coatings Co.,Ltd.of Holland in Red Lion Coatings International Co.,Ltd.