Within two months of Poly Culture launching its IPO in Hong Kong, China Guardian announced on April 16 that it is restructuring, according to a China News report.
The new China Guardian Culture Group comprises two subsidiaries: the original China Guardian auction house (Guardian Auction) and a newly established China Guardian Investment company (Guardian Investment), which will operate the Guardian Art Center.
The company said that the Art Center, planned to be in operation by 2016, will host exhibitions, cultural exchange activities, art market education courses, and also have a consulting arm providing such services as antique appraisal and restoration.
Ms. Wang Yannan, the CEO of China Guardian, will serve as vice chairman of both Guardian Investment and Guardian Auction.
Kou Qin, formerly the vice president and director of the auction house, becomes the CEO of Guardian Investment, and Hu Yanyan takes the CEO chair at Guardian Auction.
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