So far, FAW Xiali officially bid farewell to the vehicle manufacturing business.
FAW Xiali's car manufacturing business officially ended. A few days ago, FAW Xiali issued an announcement that after the company’s application to the Shenzhen Stock Exchange and the approval of the Shenzhen Stock Exchange, the company’s stock abbreviation was changed from “FAW Xiali” to “China Iron and Steel” on January 8 this year. The company’s securities code "000927" remains unchanged.
FAW Xiali stated in the announcement that on December 25 last year, after the approval of the third extraordinary general meeting of China Railway Materials Co., Ltd., the company plans to change its name from "Tianjin FAW Xiali Automobile Co., Ltd." to "China Railway Materials Co., Ltd." Co., Ltd." and the stock abbreviation changed to "China Iron and Steel"
FAW Xiali also stated that after the completion of the company’s major asset sales, the issuance of shares to purchase assets and related transactions, the company’s main business will be changed to material supply chain management, track operation and maintenance technical services and railway construction oriented to the rail transit industry. Engineering material manufacturing and integrated service business, the main business covers all links and material units of rail transit construction, operation and maintenance, focusing on oil products, steel rails, railway mobile equipment materials, engineering construction materials and other fields to provide rail transit industry and related markets Integrated services such as material supply, production coordination, quality supervision, bidding agency, operation and maintenance. On January 5 this year, the company went through the procedures for the industrial and commercial registration change of the name change and obtained the "Business License" renewed by the Tianjin Municipal Market Supervision and Administration Commission.
As a veteran domestic car company, the Xiali model produced by FAW Xiali used to be the best-selling passenger car of its own brand in China. However, the lack of innovation for many years, as well as the market and technology, finally made FAW Xiali gradually go to the end. With the reorganization of assets, the successful takeover of Tiewu shares means that FAW Xiali officially bid farewell to the vehicle manufacturing business and left the market sadly.
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