Summary by Moomoo AI
Dongfeng Group Co., Ltd. (“Dongfeng Group”) issued a voluntary announcement on 15 March 2024 announcing that its controlling shareholder Fen Motor Group Limited (“Dongfeng Motor Company”) has added 3,150,000 shares of H shares through Hong Kong Stock Exchange at an average price of HK$3.14 per share. Following this increase, Dongfeng Motor Corporation's shareholding ratio increased to approximately 73.23%, comprising approximately 69.56% of equity and 3.67% of H shares. Dongfeng Motor Company said that the move is based on confidence in the prospects of Dongfeng Group and recognition of its long-term investment value. In the future, it will increase H shares in due course depending on market conditions. Dongfeng Group will continue to monitor and disclose upside where necessary. The announcement also reminds shareholders and potential investors that the increase in shares of Dongfeng Motor Company will be subject to market conditions and has the absolute discretion to urge shareholders and investors to exercise caution when buying and selling shares.