On January 4, 2016, Fengshen Tire Co., Ltd. issued an announcement. As the major asset restructuring planned by the controlling shareholder Sinochem Rubber involved Fengshen Tire, the company's stock has been suspended from January 5, 2016, and the suspension time has not exceeded 30. day.

Fengshen Tire

According to the announcement, Fengshen Tire's shares were suspended from December 28, 2015 due to verification of related matters. Upon verification, the company’s controlling shareholder, Sinochem Rubber, plans to plan a major asset reorganization involving Aeolus Tyre. In order to avoid abnormal fluctuations in the stock price, the company continued to apply for suspension.

Fengshen Tire stated that the relevant plan for the reorganization is still in the stage of demonstration and there is a great degree of uncertainty, bringing investors attention to investment risks.

According to TireWorld.com, since Pirelli officially became a subsidiary of Sinochem Group, the majority shareholder of Fengshen Tire, Sinochem Rubber Co., Ltd., a subsidiary of the group, has been working on the integration of relevant Chinese and foreign resources, including the integration of Pirelli with Aeolus Tyre and Yellow Sea Rubber. relationship.

Sheet Metal Forming processes are those in which force is applied to a piece of sheet metal to modify its geometry rather than remove any material. The applied force stresses the metal beyond its yield strength, causing the material to plastically deform, but not to fail. By doing so, the sheet can be bent or stretched into a variety of complex shapes. 

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