Giti Tire Corp. released on Sep. 9 a clarification announcement concerning media report.
Giti Tire held an online investors exchange on the reform of equity division.
An official with Giti Tire said while answering a question that “because of some historic issues concerning equity structure, the success of the reform of equity division is a crucial premise for the overall listing and asset injection in the future. If the reform succeeds, the company will plan for the possibility of injection of relevant assets”.
After that, a media published a report under the headline of Giti Tire: Planning for Asset Injection When Equity Reform Succeeds.
With regard to the report that “Giti Tire will plan for asset injection after the equity reform”, Giti Tire wrote a letter to its controlling shareholder Giti Tire (China) Investment Co., Ltd. and sought to prove the issue.
Giti Tire (China) Investment replied and clarified that so far, the company and the controlling shareholder have no such plan as overall listing or relevant asset injection after the success of the equity reform.
