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Express News | Guangzhou Automobile Group Says Agrees to Dissolve and Liquidate Shanghai Hino Engine
Guangzhou Automobile Group (601238.SH): Joint venture company Shanghai Hino Engine Co., Ltd. plans to undergo dissolution and liquidation.
On September 13th, Guangzhou Automobile Group (601238.SH) announced that, according to the company's commercial vehicle development plan, in order to achieve the commercial vehicle's new energy global strategy transformation, the company has agreed to participate in the dissolution and liquidation of Shanghai Hino Engine Co., Ltd. (referred to as 'Shanghai Hino'). The company holds 30% of the shares, and Hino Motors, Ltd. holds 70% of the shares. As of December 31, 2023, Shanghai Hino's audited total assets were 0.698 billion yuan, total liabilities were 0.286 billion yuan, 2023 revenue was 0.234 billion yuan, and net income was -0.061 billion yuan. The dissolution and liquidation will not have any impact on the company.
Guangzhou Automobile Group (02238.HK) cancelled 29.484 million shares on September 13th.
On September 13th, 2024, Guangzhou Automobile Group (02238.HK) announced that it had cancelled 29.484 million shares of H shares repurchased.
Cui Dongshu: The sales structure trend of price segments in the national passenger vehicle market continues to rise, with a significant increase in the proportion of high-end vehicle sales.
According to the China Passenger Car Association data, the national passenger vehicle market price segment sales structure trend continues to rise, with a significant increase in the sales proportion of high-end models and a decrease in the sales proportion of low-priced models.
[Brokerage Focus] Xiniu Securities raises target price of Zhongchuang Innovation Aviation (03931) by nearly 6%, expecting improved operation.
Jingu Financial News | Xiniu Securities research shows that in the first half of the 2024 fiscal year, Zhongchuangxin Hang (03931) achieved a total revenue of 12.47 billion yuan RMB, a slight growth of 1.4% compared to the same period last year. Sales of power batteries decreased by 6.3% year-on-year, while sales of energy storage system products increased by 43.2% year-on-year, further increasing their share of total revenue to 22.0%. The bank pointed out that the decline in sales of power batteries is mainly due to the decrease in average selling price, offsetting the positive impact of the increase in sales volume. However, the selling price of power batteries in the market has gradually stabilized since June, and the decline has significantly reduced under the drive of a low base, demonstrating the demand.
Spain and Germany Call on EU to Push Back EV Tariffs on Chinese EV
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