St Scooter asset replacement will become engine parts manufacturers

St Cavalry (600698) announced the reorganization of the draft in late Thursday, China Changan is to be held in Hunan Tian Yan Machinery Co., Ltd. 100% Equity and the company's total assets and liabilities for replacement, asset replacement transactions to evaluate the value as the benchmark, the difference is part of China Changan to cash.　　The announcement shows that the estimated value of the proposed assets is $385 million and the estimated value of the proposed assets is $588 million.　　At the same time, the company's controlling shareholder, China Ordnance Equipment Group Corporation, intends to transfer all 305 million shares of its holdings to Changan in China, and the transfer of all assets and liabilities from the company after the asset replacement by Changan and the company in China will be paid. After the completion of the transaction, the company's main business will be the motorcycle design, production and sales changes for the automotive turbocharger, valves, cooling fans and other gas distribution agencies such as automotive engine parts production, sales and technology development. The company will become a listed company producing auto engine parts.　　At the same time, the controlling shareholder of the company will be transformed into Changan in China, and the actual control person is still a soldier-loaded group. This transaction needs to be considered by the shareholders ' general meeting and approved by the state-owned committee and the CSRC.