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EU Plans to Vote on Sept 25 for Higher Tariffs on Chinese EVs, Report Says
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.
The European Commission intends to reject the price commitment solution proposed by China's industry for the EU electric vehicle anti-subsidy case. The Ministry of Commerce responded.
The spokesperson of the Ministry of Commerce stated that the European Commission has ignored the sincerity and efforts of the Chinese business community, and has proposed to reject the flexible solution proposal put forward by the Chinese business community without conducting in-depth communication. China is deeply disappointed by this.
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.
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