Shuangqin Group will reorganize its tire business into new subsidiary
On December 24, 2015, Shuangqin Group Co., Ltd. announced that it will restructure its tire business and establish a new tire company.
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It is reported that the group will invest 50 million yuan in cash to establish a wholly-owned subsidiary "Shuangqian Tyre Co., Ltd." (provisional name, the actual name is based on the business license), will be injected into the newly established tire business sector Within the subsidiary.
Shuang Qiang stated that this decision was made after the group implemented a major asset reorganization. The purpose is to further enhance the professional management functions of all business segments so as to increase the market competitiveness in the tire industry.
The announcement stated that the newly-established Shuangqin Tire Co., Ltd. has a registered capital of 50 million yuan; its registered address is No. 2613, Jianchuan Road, Minhang District, Shanghai; the legal representative is Chu Zhengyu; the scope of business is the production and sale of tires, tires, rubber shoes and other products. Rubber products and accessories for the aforementioned products, rubber raw and auxiliary materials, rubber machinery, molds, and tire rubber product wires.
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