Xinjiang Tianye Water Saving Irrigation System Company Limited has announced a proposed restructuring involving its controlling shareholder, Xinjiang Tianye (Group) Limited, and the State-owned Assets Supervision and Administration Commission of Xinjiang Production and Construction Corps 8th Division. The restructuring includes the formation of a new holding company, Xinjiang Tianze Water Conservancy Investment and Development Co., Ltd. As part of the transaction, the 8th Division SASAC will transfer 37.5% of the new company's share capital to Tianye Group at no cost, with Tianye Group contributing its entire equity interest in Xinjiang Tianye Water Saving Irrigation System Co., Ltd. to fully pay up the share capital. The restructuring is in its preliminary stages, and further announcements will be made as appropriate.
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