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Important
Events in The Development of The Company's Business
Since the early 90's, the Company started out to
be an investment holding company which owns majority
interests in a number of Sino-foreign equity joint
venture enterprises in the People's Republic of
China (the "PRC") involving in the production
and trading of vehicles tires and related rubber
products. After listing on the NYSE during 1993,
the Company has further stregthened its tire business
both in the PRC and overseas.
The
Company had started considering and exploring new
directions and alternatives for the future of its
business since the middle of year 2000. Pursuant
to special resolutions passed at the 2000 annual
general meeting held on June 27, 2000 and the 2001
annual general meeting held on May 31, 2001, respectively,
the name of the Company was first changed from "China
Tire Holdings Limited "to "China Tire
e-commerce.com Limited" and later agai changed
to "China Enterprises Limited".
The name changes were the result of the strategic
review of the Company's investments in light of
the impending structural changes occurring in the
business environment of the Greater China Region.
With its changing political and socio-economic landscape,
it is imperative that the Company expands its vision
to encompass investments in other high growth industries
in the region. Going forward, the Company intends
to actively search for potential investments in
the Greater China Region with emphasis on achieving
a diversified portfolio.
On
April 19, 2002, the Company completed an acquisition
of the substantial stake in Ananda Wing On Travel
(Holdings) Limited ("Ananda"), a leading
travel operator based in Hong Kong whose shares
are listed on the Stock Exchange of Hong Kong Limited.
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