Sino Grandness

Sino Grandness: In a business update, Sino Grandness highlighted that its proposal to spin off its juice business, Garden Fresh, is still progressing, and the group will keep shareholders updated on any material developments.

In the meantime, the group has commissioned research company Euromonitor Int'l to conduct independent assessment of the fresh juice and loquat juice market in China. The Industry report will include industry trends and competitive landscape with market shares and ranking.

While continuing to move ahead with its plan with the Proposed Spin-Off, the group’s management will actively monitor and manage its cash flow positions, banking facilities, trade receivables and capital investment plans. If required, management will revise its capital investment plans in the new plant in Anhui Province in order to strengthen its cash flow position further.

Management will also actively monitor and manage its sales growth momentum and trade receivables amount which is more than the CBs redemption sum as at 31 Dec ’14, assuming the outstanding trade receivables of Rmb1.1b as at 31 Dec ‘14 are fully collected.