China Changan Automobile Group completed the reorganization of ST Qingqi during the year

Yesterday, the top executives of the China Changan Automobile Group disclosed in Beijing that if all goes well, the company's restructuring of ST Qingqi will be completed in half a year.

This month, ST Qingqi issued an announcement that China Changan replaced its 100% equity in Hunan Tianyan with all the assets and liabilities of Qingqi. At the same time, China Chang'an purchased 305 million shares of ST Qingqi, the parent company's military equipment group, and became the largest shareholder. As a result, ST Qingqi's reorganization plan has finally settled for several years.

According to the reorganization plan, 100% equity of Hunan Tianyan Machinery Co., Ltd. held by China Changan Automobile Group was sold at a price of 385 million yuan, which replaced all assets and liabilities such as ST Qingqi Motorcycle, and the price was 588 million yuan. Assets were placed and assets were placed. The difference between about two billion yuan is supplemented by cash from China Chang'an. According to the person in charge of China Chang'an, the shareholders' meeting has been issued a notice of the reorganization. After convening a shareholders' meeting, the materials are reported to the Securities and Futures Commission. The review by the China Securities Regulatory Commission usually takes about half a year, and if successful, it can be delivered through the audit.

Previously, China Changan and ST Qingqi were the holding subsidiaries of the Bings Group. After the reorganization plan is implemented, China Chang'an will become the controlling shareholder of ST Qingqi. Prior to this, ST Qingqi had lost money year after year, and the stock price bottomed.