Cleantech Solutions International, Inc. (CLNT)

Cleantech Solutions International, Inc. was a China-based manufacturer whose operating subsidiaries made industrial equipment. Its core product line consisted of high and low temperature dyeing and finishing machines sold to textile producers. At earlier stages the company also made forged rolled rings and other components used in wind turbines and industrial applications, which tied it to the clean technology theme reflected in its name.

The company had previously been known as China Wind Systems and took the Cleantech Solutions name to describe its broader focus. Its shares traded on the NASDAQ Capital Market under the symbol CLNT. Like many US-listed Chinese small caps, it had a small market value, thin trading and repeated capital raises.

By 2017 slowing demand for its machinery led management to look for new growth areas. The company announced plans to move into the sharing economy, investing in online platforms, equipment rental partnerships and blockchain-related projects, while continuing to run the dyeing machinery business.

To reflect the new strategy, the company changed its name to Sharing Economy International Inc. The new name and the new NASDAQ symbol SEII took effect at the market open on January 8, 2018, along with a new CUSIP number. The CLNT symbol was retired. Sharing Economy International later lost its NASDAQ listing and its shares moved to the over-the-counter market, where they continued to be quoted under SEII. The company shifted its stated base to Hong Kong.