Guizhou Tyre to get new indirect controlling shareholder

Guizhou Tyre (SZSE:000589) announced a proposed change in its controlling shareholder's equity structure. Guizhou Province Industrial Development Co. will acquire 82.6529% of Guiyang Industrial Investment Co., the direct controlling shareholder of Guizhou Tyre, for a total of RMB 10 bn. This acquisition will be from Guiyang Industrial Development Holding Group Co., Guiyang Foreign Trade Development Group Co., and Guiyang Mineral Energy Investment Group Co.

Following the transaction, Guizhou Province Industrial Development Co. will become the indirect controlling shareholder, with the Guizhou Provincial People's Government State-owned Assets Supervision and Administration Commission becoming the new ultimate controller. The change is pending approval from the State Administration for Market Regulation. Guiyang Industrial Investment Co. currently holds 21.92% of Guizhou Tyre's total share capital.

The equity transfer will not impact Guizhou Tyre's direct shareholding, business operations, financial condition, or the independence of its personnel, assets, and institutions. The transaction is based on an equity valuation of Guiyang Industrial Investment Co. at RMB 12,098,800,308.68 as of September 30, 2025. Guizhou Province Industrial Development Co. has confirmed it will use its own and self-raised funds for the acquisition.