Peking Autos (01958) surged over 6% in the final minutes of trading, up 6.44% to 2.48 Hong Kong dollars, with a trading volume of 46.8184 million Hong Kong dollars.
According to Zhitong Finance APP, BAIC (01958) surged over 6% at the end of trading, and as of the time of writing, it has risen by 6.44%, reaching 2.48 Hong Kong dollars, with a turnover of 46.8184 million Hong Kong dollars.
On the news front, on December 13, the controlling shareholder of BAIC BluePark, BAIC, increased its investment in BAIC New Energy by 2 billion yuan through a private agreement. On the evening of December 24, BAIC BluePark announced that its subsidiary BAIC New Energy had completed a capital increase and expansion, receiving a total of 8.15 billion yuan in new funds, and introduced Contemporary Amperex Technology and a company under Pony.ai as strategic investors. Thus, BAIC New Energy has completed a total capital increase of 10.15 billion yuan.
Previously, BAIC announced that it entered into an agreement with Hyundai Motor, whereby both parties agreed to inject 0.548 billion US dollars into Beijing Hyundai according to their respective equity ratios in Beijing Hyundai's registered capital, totaling 1.095 billion US dollars, with the investment to be made in phases. It is reported that in 2025, Beijing Hyundai plans to launch its first pure electric model, strengthening its research and development efforts in electrification, intelligence, and advanced technology, with export plans increasing to 0.08-0.1 million units, and all products produced by Beijing Hyundai in the future will target the Global market.