Chinyang Holdings Corp. (KOSE:A100250) agreed to sell 4.73% stake in Chinyang Development Co. Ltd. for KRW 2 billion on September 28, 2012. Under the terms of the transaction, Chinyang Holdings will sell 0.41 million shares in Chinyang Development. Pursuant to the transaction, Chinyang Holdings will own 3.45 million shares in Chinyang Development. Chinyang Development Co. reported sales of KRW 12.4 billion, net income of KRW 3.8 billion, total assets of KRW 119.18 billion, total stockholders equity of KRW 56.38 billion, and operation income on a cash basis of KRW 7.01 billion for the period ending December 31, 2011. The transaction has been resolved by the Board of Directors of Chinyang Holdings and is expected to complete on November 2, 2012.

Chinyang Holdings Corp. (KOSE:A100250) cancelled the sale of 4.73% stake in Chinyang Development Co. Ltd. on September 28, 2013.