AVIC Engine: Proposes to transfer assets related to the production and manufacturing of aero-engines from its headquarters to its wholly-owned subsidiary Xi'an Hongqi free of charge
A Chinese aerospace company, AVIC Engine, plans to transfer its aviation engine production assets and personnel to a wholly-owned subsidiary, Xi'an Hongqi. This move aims to restructure the company into a holding entity, with manufacturing responsibilities distributed among four subsidiaries. The transaction is subject to board, shareholder, and regulatory approvals, and its completion is not yet certain. AI