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Beiqi Foton officially listed the 67% stake in Borgward
From January to August this year, Borgward’s net profit loss was approximately 1,649 billion yuan, the equity transferee was required to repay 4,271 billion arrears for Borgward.
On November 23rd, Beiqi Foton Motor Co., Ltd. (abbreviated as Beiqi Foton) officially listed 67% equity of Beijing Borgward Vehicles Co., Ltd. (abbreviated as Borgward vehicles), and the reserve price was about 3,973 billion yuan. It is also mentioned in the trading conditions that the transferee must repay the transferor's loan and interest of 4,271 billion yuan within 3 years from the date of completion of the equity transfer (ie, the completion of the industrial and commercial change registration).
The Beijing News reporter inquired on Tianyan. Up to now, the ownership structure of Borgward vehicles has not changed, and it is still 100% owned by Beiqi Foton. If the listing transaction is completed, the equity of Borgward held by Beiqi Foton will be adjusted to 33% and will no longer be included in the scope of the company's consolidated statements.
At present, the operation status of Borgward vehicles itself is not optimistic. According to the announcement of Beiqi Foton on October 9th this year