Hozon Auto changes hands
Wang Wenxue, the chairman and owner of real estate/industrial park developer China Fortune Land Development (CFLD), has taken over Hozon Auto from its former owner Fang Yunzhou. Hozon was set up by Mr. Fang, two research institutes, plus a couple of other investors (see article). Wang Wenxue replaces Mr. Fang as chairman. Mr. Fang will continue as a director and general manager. A 100% subsidiary of CFLD, Lhasa Zhixing Innovation Technology Co., Ltd. now holds 53% of Hozon.
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