10 Apr 2025
Chinese tire group still going ahead with Yuan1.47 billion giant-tire project in Jiaozuo City
Henan, China – Aeolus Tyres is withdrawing a previous plan to issue shares to specific investors with the aim of raising Yuan300 million (€37 million).
In a 3 April statement, the group said it decided to withdraw the application from the Shanghai Stock Exchange after “carefully assessing the capital market environment, strategic development plans, and financing needs.”
The manufacturer unveiled the share-issue plan in April last year and progressed with authorisation approvals till November.
The funds raised were intended to go towards the ongoing Yuan1.47 billion project to add production capacity for 20,000 units/year of giant OTR tires at the Jiaozuo City facility.
In its latest announcement, the tire maker said its operations remain normal, and its original fundraising for the project is progressing as planned.
The withdrawal, it said, will not affect the project or the company’s overall operations.
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