Navigation Links
CTDC Announces the Disposal of Non-core Business
Date:12/20/2007

HONG KONG, Dec. 20 /Xinhua-PRNewswire-FirstCall/ -- China Technology Development Group Corporation (Nasdaq: CTDC, "the Company" or "CTDC"), a provider of clean and renewable energy products and solutions focusing on solar energy business in China, today announced that it has completed another step in its strategic plan to focus the Company's management and operating resources on the principal business of solar energy.

On December 18, 2007, the Company disposed its subsidiary China Natures Technology Inc. ("China Natures") to an independent party for a total cash consideration of HK$10,000,000, pursuant to the sale and purchase agreement dated December 18, 2007 ("SPA"). The disposal of China Natures and the major terms of the SPA have been approved by the shareholders on the annual general meeting held on October 19, 2007. The net proceeds of the disposal will be used to further develop its core businesses.

Alan Li, Chairman and CEO of CTDC said, "The disposal of non-core business further advances our strategy of reshaping the Company around clean renewable energy sector which presents an exciting growth opportunity for the Company and our shareholders. This transaction will allow increased focus of management and financial resources on our core activities and will put the Company in a stronger position to move forward in the solar energy business."

About CTDC:

CTDC is a provider of clean and renewable energy products and solutions in the solar energy business in China. CTDC's ultimate principal shareholder is China Merchants Group ( http://www.cmhk.com ), one of the biggest state-owned conglomerates in China. For more information, please visit our website at http://www.chinactdc.com .

Forward-Looking Statement Disclosure:

This press release of the Company, which is a foreign private issuer, on Form 6-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Act of 1934. These statements relate to future events or the Company's future financial performance. The Company has attempted to identify forward-looking statements by terminology including "anticipates", "believes", "expects", "can", "continue", "could", "estimates", "expects", "intends", "may", "plans", "potential", "predict", "should", or "will" or the negative of these terms or other comparable terminology. These statements are only predictions, uncertainties and other factors may cause the Company's actual results, level of activity, performance or achievements to be materially different from any future results, level of activity, performance or achievements expressed or implied by these forward-looking statements. The information in this Report on Form 6-K is not intended to project future performance of the Company. Although the Company believes that the expectations reflected in the forward- looking statements are reasonable, the Company does not guarantee future results, level of activity, performance or achievements. The Company's expectations are as of the date this Form 6-K is filed, and the Company does not intend to update any of the forward-looking statements after the date this Report on Form 6-K is filed to conform these statements to actual results, unless required by law.

Enquiries:

Stephan Yao

General Manager, PR/IR Department

Tel: +852-3112-8461

Email: ir@chinactdc.com


'/>"/>
SOURCE China Technology Development Group Corporation
Copyright©2007 PR Newswire.
All rights reserved

Related biology technology :

1. Dendreon Announces Publication of Phase 1 Study Highlighting Immunologic and Clinical Activity of Lapuleucel-T (Neuvenge(R)) in Advanced Breast Cancer Patients
2. YM BIOSCIENCES ANNOUNCES COMPLIANCE WITH AIM RULE 26
3. Emisphere Technologies, Inc. Announces Pricing of Registered Direct Offering
4. BioLife Solutions Announces Exclusive CryoStor(TM) Supply Agreement With the New England Cryogenic Center, Inc.
5. Carrington Announces Nasdaq Communication; Prepares for Shares to Be Quoted on the OTC Bulletin Board and Pink Sheets
6. China Kangtai Cactus Biotech Files 2nd Quarter 2007 10QSB and Announces Unaudited Quarterly Results
7. Cephalon Announces Positive Results from a Pivotal Study of FENTORA in Opioid-tolerant Patients with Non-cancer Breakthrough Pain
8. Advanced Life Sciences Announces Receipt of Nasdaq Staff Letter
9. ADVENTRX Announces Fast Track Designation Granted By the FDA For CoFactor For the Treatment of Metastatic Colorectal Cancer
10. Angiotech announces additional diameters of sutures to further expand its Quill(TM) SRS PDO product line
11. CNS Response Announces Fiscal Third Quarter 2007 Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/23/2017)... ... 22, 2017 , ... A new Technology Hot Topics session ... August will feature high-level speakers on quantum devices, graphene electronic tattoo sensors, augmented ... the largest multidisciplinary optical sciences meeting in North America, will run 6-10 August ...
(Date:5/23/2017)... MA (PRWEB) , ... May 23, 2017 , ... ... sources for advanced technology applications, has announced a facility expansion to accommodate its ... 3,000 square feet of new workspace and renovation of the existing areas. The ...
(Date:5/23/2017)... ... 2017 , ... Bacterial biofilms, surface adherent communities of bacteria that are encased ... food poisoning and catheter infections to gum disease and the rejection of medical implants. ... dollars per year, there is currently a paucity of means for preventing their formation ...
(Date:5/23/2017)... ... May 23, 2017 , ... Customers often prefer ... technology again and again. METTLER TOLEDO has released two new videos that show ... how integration of the ACT350 into Siemens and Allen Bradley PLCs is easy ...
Breaking Biology Technology:
(Date:3/22/2017)... -- Vigilant Solutions , a vehicle location and ... today the appointment of retired FBI special agent ... development. Mr. Sheridan brings more than 21 ... on the aviation transportation sector, to his new role ... served as the Aviation Liaison Agent Coordinator (ALAC) in ...
(Date:3/20/2017)... -- PMD Healthcare announces the release of its new ... (WMS), a remote, real-time lung health monitoring and management ... a Medical Device, Digital Health, and Chronic Care Management ... solutions that empower people to improve their healthcare and ... the first ever personal spirometer, Spiro PD, which was ...
(Date:3/13/2017)... Future of security: Biometric Face Matching software  Continue ... ... to match face pictures against each other or against large databases. The recognition ... ... software for biometric Face Matching on the market. The speed is at 100 ...
Breaking Biology News(10 mins):