BRIEF-Chanjet Information Technology Co and Yonyou entered into disposal agreement

Oct 21 (Reuters) - Chanjet Information Technology Co Ltd * Expected that it will continue to record loss for 2016 * Company and yonyou entered into disposal agreement on 21 october 2016 * Company, Yonyou and Chanjet Payment entered into capital increase agreement * Yonyou has conditionally agreed to make capital contribution to chanjet payment unilaterally in amount of RMB100mln * Pursuant to agreement, payment service business shall be excluded from scope of restricted business under non-competition agreement * Yonyou has agreed to acquire, sale interest, at consideration of RMB195.6 million * Group is expected to record an unaudited profit of approximately RMB179.24 million as a result of disposal and capital increase * Net proceeds from disposal and capital increase is expected to be approximately RMB182.37 million Source text for Eikon: Further company coverage: