Qihang Equipment Shares To Begin Trading On Friday Under New Name

LONDON (Alliance News) - Qihang Equipment Company Ltd, which has now changed its name to Eastbridge Investments PLC and become an investment company, said Thursday that its shares will be restored to trading on AIM on Friday.

The company earlier this month sold the Jiangsu Qihang CNC Machinery Tools Co Ltd operating business it had bought in July 2011, due to the economic downturn and specific difficulties in the machinery tool market. Its shares have been suspended since the end of September 2014, when the company said it wouldn't be able to meet the deadline for publishing its accounts for the half year to June 30.

However, the company posted its results for that financial year last Friday, reporting a net loss of CNY9.9 million for the six months to end-June, compared with a CNY10.3 million loss in the first half of 2013, as revenue rose to CNY68.8 million, from CNY52.0 million the year before.

The company has now changed its name to Eastbridge Investments, and has adopted a new investing policy focused on the property and real estate sector.

By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty

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