Hall of Shame
Pearl River Tyre (1187 HK)
The credit and debt of Guangzhou Pearl River Tyres Co., Ltd. have been taken over by the parent company as it is experiencing operating difficulties. CreditChina.gov.cn information shows that Pearl River Tyres has been involved in the blacklist of dishonest entities. A source disclosed that the company has suspended production. Pearl River Tyres have been sued by Guangzhou Haizhu Sub-branch of Bank of China, Jiangsu Baosteel Precision Wire Co., Ltd., and Guangzhou Hehong Rubber Material Co., Ltd.
Guangzhou Pearl River Tyres was established in 1993 by Guangzhou Guangxiang Group and Garwin Co., Ltd. Guangzhou Pearl River Tyres was controlled by foreign capital and the foreign investment ratio was 70% then.
Guangzhou Wanli Group became a shareholder of Guangzhou Pearl River Tyres in 2000. Guangxiang Group quit the company in May 2017. Currently, Guangzhou Wanli Group Asset Management Co., Ltd. is the controlling shareholder of Guangzhou Pearl River Tyres with a 40% investment. Garwin has a 39% share and Yudeng Holdings has a 21% share.
Amanda (TireWorld): Guangzhou Pearl River Tyres experiences operating problems, 01 Mar 2018
Pearl River Tyre: Internal control review, 11 Nov 2014
Pearl River Tyre: Profit Warning, 28 Jul 2014
Pearl River Tyre: Annual Report, 25 Apr 2012