Jinan's first listed company ST Qingqi to have assets replaced

On the evening of March 3rd, ST Qingqi (600698) disclosed the Report on Replacement of Major Assets and Related Transaction. China s Chang an will replace its holding of 100% equity in Hunan Tyen Machinery Co., Ltd. with all the assets and liabilities of ST Qingqi, which shows that the former motorcycle empire will be withdrawn from the Shanghai market after ten years on the capital market and will be replaced by Hunan Tyen Machinery Co., Ltd. (referred to as "Hunan Tyen") which is also a subsidiary of China South Industries Group Corporation.

Following tradition, Hunan Tyen will change the original name of the listed company after the back-door listing and then ST Qingqi will end its history. ST Qingqi and its originator former president Zhang Jialing will leave the company after the refulgence leaving a question for people to think about.