Tianshan Textile Restructuring

After four months of suspending stock trade, Xinjiang Tianshan Wool Textile Stock Co., released its Equity Change Report on Dec. 7^th and announced restructure and adjustment of its major business. Xinjiang Kaidi Investment Co., Ltd. invested 318,064,500 yuan to acquired 7650.6 shares from Hong Kong Tianshan Wool Textile Co. Ltd. and Xinjiang Supply and Marketing Cooperative. After the transaction, Kaidi Investment would have 21.05% stock share of Tianshan Textile.

Kaidi Investment said in its report that when holding the original wool textile business, it also planed to adjust the major business in 12 months. This action was supposed to improve the company's profitibility. And the restructuring was under way.