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BEIQI Foton Motor (600166.SH): Plans to terminate the implementation of the employee stock ownership plan for 2024-2025.
On August 14th, Golonhui reported that Foton Motor (600166.SH) announced that due to the ongoing changes in the capital markets and comprehensive consideration of the company's actual situation and global strategy arrangements, the company plans to terminate the implementation of the 2024-2025 employee stock ownership plan. In 2023, the company completed the third phase of share repurchase, repurchasing a total of 86.36 million shares. The original purpose was "all used for the employee stock ownership plan (part of which was not implemented within three years)". They are now applying to change the purpose to "all used for cancellation and corresponding reduction of registered capital", meaning to cancel all shares repurchased in the repurchase special securities account.
Beiqi Foton Motor (600166.SH): Plans to extend the related debts of Resar Holdings.
On August 14th, Geely announced that in order to support the healthy and sustainable development of Resar Holding Co., Ltd. (Resar Holding), reduce its cash flow pressure and help the development of its specialized vehicle business, the company plans to extend the maturity of Resar Holding's debt of 472.5429 million yuan (due in 2024-2025) and the extension period is from 2025 to 2027.
Beiqi Foton Motor (600166.SH): has sold new energy bus products to multiple cities including Peking.
Beiqi Foton Motor (600166.SH) stated on the investor interactive platform on August 13th that the company has sold new energy bus products to multiple cities, including Beijing, Jiaxing, Lhasa, and Jingdezhen.
Foton Motor's Commercial Vehicle Production, Sales Decline in July
Fast report of production and sales data for each product in July 2024.
Beiqi Foton Motor (600166.SH): Currently, the heavy truck with the highest level of intelligent driving in the company's mass-produced models is the L2+ highway automated driving system.
BeiQi Foton Motor (600166.SH) stated on their investor platform on August 9 that the company has made arrangements in the areas of autonomous and assisted driving, primarily by enhancing its own research and development capabilities to develop, produce, and sell intelligent driving-related products. All of the company's vehicle models for sale are equipped with different levels of intelligent driving functions. Currently, the company's highest level of intelligent driving among mass-produced models is L2+ autonomous driving for heavy-duty trucks on main roads.
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