On March 8, 2011, Yangzhou Yaxing Bus Co., Ltd. (hereinafter referred to as Yaxing Bus) announced that Yaxing Group and Weichai Yangzhou have signed the “Agreement on the 51% Change of State-owned Shares of Yangzhou Yaxing Bus Co., Ltd.â€. Through the free allocation of state-owned shares, Weichai Yangzhou will receive 11.22 million shares held by Yaxing Group, and thus become the controlling shareholder of Yaxing. This also means that the Weichai Group, which holds a 99% stake in Weichai Yangzhou, will move from heavy-duty diesel engines to heavy-duty trucks to the passenger car industry. According to reports, the Yaxing Group (a state-owned enterprise of the Yangzhou Municipal Government) previously held a total of 53.71% shares of Yaxing Bus. After the free transfer of shares, the shareholding of Yaxing Group will drop to 2.71%. Yaxing Bus The ultimate controller will be changed from Yangzhou SASAC to Shandong Provincial SASAC. The announcement shows that Weichai Yangzhou is a company jointly funded by Weichai Group and its wholly-owned subsidiary, Weichai Import & Export, for the acquisition. Since the company was established on January 12, 2011, no actual production and operation activities have taken place. Optical Coating Fine Ceramics,Vacuum Thin Film Coating,Ion Source,Hex Boron Nitride WuXi TecCeram Fine Ceramic Co., Ltd , https://www.hitechceram.com