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On the night of August 21th, FAW Xiali released an Announcement of Suspension of Trading in relation to material asset restructuring by the Board, in which the company plans to sell 15% shares of Tianjin FAW Toyota Motors (TFTM) to its controlling shareholder, FAW Group. It’s expected that a total of RMB 2.5b will be obtained and increase FAW Xiali’s current profit. FAW Xiali still holds 15% shares of TFTM after the asset transfer. The trade is expected to form a material asset restructuring, and the company stock will face a suspension of trading from August 22th.

Photos of Junpai A70, made by Tianjin FAW, one of leading automakers in China, have been reportedly released recently.

Personnel adjustment on top managements in FAW Car and FAW Xiali, two listed subsidiaries of FAW Group, one of leading automakers in China, may serve to accelerate regrouping of businesses.