TST makes shares pledge, signs machinery deal

Tianjin, China – Chinese machinery maker TST on 9 Jan issued a statement disclosing the pledging of 15 percent of its shares by the largest shareholder Tianjin Saixiang Venture Capital.

Before the pledging TSVC owns 32 percent of TST. No other details are revealed.

TSVC is 67-percent-owned by TST’s chairman Zhang Jianhao, according to TST’s 2014 annual report.

In a separate announcement, TST said it had signed a machinery procurement contract on 31 Dec, 2015 with Hefei Wanli Tire and Guangzhou Yuexiu Financial Leasing.

Pursuant to the contract, GYFL will purchase tire building machines from TST and lease such machinery to Hefei Wanli.

The contract is priced at 105 million yuan (€14.7 million) and expires as of November 2016.