BAIC Motor (01958) rose nearly 6% in early trading. As of press release, it had risen 3.89% to HK$2.67, with a turnover of HK$32.88,900.
The Zhitong Finance App learned that BAIC Motor (01958) rose nearly 6% in early trading. As of press release, it had risen 3.89% to HK$2.67, with a turnover of HK$32.88,900.
According to the news, BAIC recently announced that it has signed a escrow agreement with the holding stock Dongbei Automobile Group. The BAIC Group will fully trust all of BAIC Blue Valley's A shares (accounting for about 22.9% of its total A shares) to the company for exercise. After completion, the Group will be able to jointly exercise the voting rights for the total number of BAIC Blue Valley A shares and will become a subsidiary of the company. The Group's product brand, model lineup, and production and sales scale will be further expanded and strengthened.
It is worth noting that recently, BAIC Blue Valley has been making big moves. After the smart selection car XIANGJIE S9 made by Huawei was announced as a product by the Ministry of Industry and Information Technology, news of a joint construction of a battery cell factory with Xiaomi and the Ningde era was also reported.