Shuangqian shares entered the substantive operation stage for the listed transfer of Shanghai Michelin Warrior Tire Co., Ltd. (hereinafter referred to as "Michelin Warrior") 28.49%, and all indications indicate that Michelin Warrior's other major shareholder, Michelin, is expected to raise relevant Equity, thereby increasing the concentration of shares.

According to the latest information released by the Shanghai Stock Exchange, three shareholders, including Shuangqin Shares, intend to list and transfer 30% equity of Michelin Warriors (Shuangqian shares account for 28.49% of the equity) for a total consideration of 150 million yuan. The appraised value of the stock equity of RMB 12,494.30 million is about 20% premium.

From the listing information on the "tremendous transfer conditions" set by the transferee, Michelin and its related companies won't have much suspense in winning this part of the equity. According to regulations, the transferee should be a legally established corporate entity, and its own or its parent company must be a Fortune 500 company that is mainly engaged in the tire business, with particular emphasis on the “World 500” mentioned above. The company listed on the Fortune 500 list released on the 8th of the month. According to a press review, only Bridgestone and Michelin are among the top 500 companies in the world's top 500 companies this year. At the same time, the listing conditions also stipulate that the transferee will be a potential partner rather than a competitor. Since Michelin's subsidiary is currently a shareholder of Michelin Warrior, this condition means that Bridgestone has been automatically excluded. . In addition, Michelin subordinate companies also made it clear that they would not give up their right of first refusal to use the above listed shares.

According to statistics, Michelin (China) Investment Co., Ltd. and Michelin Finance Co., Ltd. currently hold a total of 69.93% of Michelin Warriors. After this acquisition, Michelin's shareholding in Michelin Warriors will increase to 99.93%, which is expected to be realized. The company's wholly-owned control.