Feilo Acoustics Sells DTV Stake
Shanghai-based Feilo Acoustics (600651.SH) has agreed to sell its 30 percent stake in Shenzhen Leaguer Digital TV to Leaguer Venture Capital Co., Ltd for RMB93.168 million, according to Feilo's January 30 filing with the Shanghai Stock Exchange. Feilo Acoustics expects its 2007 net profit to increase more than 50 percent year-on-year including capital gained from the share sale. The company recorded annual net profit of RMB33.041 million in 2006. Feilo Acoustics will no longer hold stake in Shenzhen Leaguer Digital TV after the deal.
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