CAAS Announces Divestment of Fujian Qiaolong Special Purpose Vehicle Co., Ltd.  [ China ]

China Automotive Systems, Inc. announced its main subsidiary, Hubei Henglong Automotive System Group Co., Ltd., has sold its 51% equity control position in Fujian Qiaolong Special Purpose Vehicle Co., Ltd. to Longyan Huanyu Emergency Equipment Technology Co., Ltd. Terms of the transaction include a cash payment of RMB 20 million and the repayment of a RMB 34 million loan by Fujian Qiaolong to C...