General Science может быть продана

Hongdou Group has terminated the agreement on the possible sale of a stake in the tire manufacturer Jiangsu General Science Technology (GS), previously concluded with Guangzhou Industrial Investment Holding Group, which includes Wanli Tire. At the same time, Hongdou announced that it still intends to sell the company, as a result of which trading in its shares on the Shanghai Stock Exchange has been suspended.

GS produces tires under the brands Goodtrip, Celimo, TBBTires, and others, which are manufactured at plants in China and Cambodia, and the agreement was terminated, reportedly after "friendly negotiations".

Hongdou owns a 41.35% stake in GS, and under the terms of the agreement, 24.41% of the tire company's shares were to be sold. If the deal had taken place, Wanli could have improved its position in the ranking of the world's largest tire manufacturers. In 2024, the company ranked 42nd, and GS was in 44th place, and the transaction would have allowed it to enter the top thirty of the ranking.