· Tianjin FAW continues to suspend trading, China FAW intends to transfer shares held

A few days ago, the car headline APP received an announcement from Tianjin FAW Xiali Automobile Co., Ltd. on the suspension of the suspension of major events. The announcement shows that FAW intends to transfer part of the shares of the company in the form of public collection of the transferee. After the completion of the share transfer, the controlling shareholder of the company will change. According to the relevant regulations on state-owned equity management, matters related to the transfer of shares must be subject to the approval of the relevant state-owned assets supervision and administration institution. The relevant share transfer information shall be determined and disclosed to the public after the State-owned Assets Supervision and Administration Commission of the State Council agrees in principle. The company's stock will continue to be suspended from September 22.

Attached to the announcement screenshot:
Earlier, there were media reports: "Dong Mingzhu and Gree team appeared in Tianjin FAW Xiali, and held a final consultation on the shareholding. At the same time, Tianjin Baili Machinery Equipment Group Co., Ltd., the second largest shareholder of Tianjin FAW Xiali, will withdraw. After Gree's shareholding, FAW Xiali will transform into a new energy vehicle and no longer produce traditional fuel vehicles. In this regard, Gree Electric Appliances announced on the 18th that after verification, the company and the company's senior management team never made a shareholding with Tianjin FAW Xiali After consultations, the company and the company's senior management team and their staff did not go to Tianjin FAW Xiali, and did not reach any agreement with Tianjin FAW Xiali on the shareholding.
As we all know, FAW Group has been seeking a total listing for more than ten years, but for various reasons, it has not been realized. After Xu Liuping transferred the chairman of the FAW Group, he put forward the vision of “the first car” and started from the independent sector. To this end, Xu Liuping talked about the ideas and strategies for accelerating the development of independent brands on many occasions of many internal meetings shortly after arriving at any steam.
According to previous media reports, FAW Group will set up the “Pentium Business Headquarters” and “Emancipation Business Headquarters”. Among them, FAW Xiali, FAW Car and FAW Jilin will be included in the management of “Pentium Business Headquarters”. In the future, FAW's vehicle business will be divided into two major segments: the autonomous passenger car and the self-owned commercial vehicle, and the Pentium business headquarters will be placed in the autonomous passenger car segment.
As far as the contents of the current announcement are concerned, the share transfer will be conducted in a publicly-collected manner, and there will be uncertainty in the transfer. Regarding the final destination of FAW Xiali, we will continue to follow the report.

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