Chaoyang Long March staff confirmed to Tyrepress China that the tyre manufacturer’s chairman had been changed from Li Qingwen to Jin Yongsheng. Jin Yongsheng still serves as general manager of Chaoyang Long March.
On May 16, Risingsun, a Chinese manufacturer of air-free tyres, was listed on the National Equities Exchange and Quotations (NEEQ). The move means the company’s shares can be publicly traded.
Recently, China’s largest tyre manufacturer Hangzhou Zhongce Rubber (ZC Rubber) has taken an important step in the stock market listing process: The China Securities Regulatory Commission (CSRC) received the IPO application of ZC Rubber. Next, CSRC will review the materials submitted by ZC Rubber. If it passes the audit, ZC Rubber will become a listed company.
The complete buy-out of Pirelli led by ChemChina is now fully underway, following the passing of the 11 August deal closing date. While the exact process is labyrinthine in its detail, the concise version of events is that ChemChina is buying out Pirelli with the firm’s shares being held by a number of holding companies which are themselves owned by a number of different companies. In short ChemChina, businesses owned by Marco Tronchetti Provera and the Rosneft-owned Luxembourg-based Long Term Investmentss will be the major shareholders.
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Zhongce Rubber