Yizheng Chemical Fiber (600871) announced that on March 24, the company and its wholly-owned subsidiary, Fullerle International Trading (Hong Kong) Co., signed a contract with Shenzhen Bangduo Industrial Co., Ltd. and Yihua (Hong Kong) Co., Ltd. 100% equity of Foshan Tianma Chemical Fiber Co., Ltd. and Yizheng Chemical Fiber's creditor's rights to Tianma Chemical Fiber were transferred to Shenzhen Bangduo and Yihua Company for a total price of RMB 230 million, and deducted from July 31, 2005 to March 31, 2006. During the period, Tianma Chemical Fiber's operating loss.
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