Gasgoo.com (Shanghai April 12) - Haima Auto's parent company Haima Stock announced yesterday that it would be buying out Haima Investment Group's 38 percent share in the automobile manufacturer, the dfdaily.com reported today. The move will give Haima Stock 100 percent control of Haima Auto.
The move comes as construction continues on the Hainan manufacturer's Zhengzhou production site for the third year now. The new factory has put a severe amount of financial strain on the company, which sold a part of its assets to Haima Investment Group two years ago to help ease the burden.
The decision for Haima Stocks to buy those assets has shown that Haima Auto's financial situation is more stable than it was in 2008. Haima Stocks maintain a very tight relationship with Haima Auto, with many of the latter's executives holding prominent positions in the company.
