The Zhitong Finance App learned that GAC Group (02238) AH shares all rose more than 3%. As of press release, A shares were up 3.6%, and H shares were up 2.91% to HK$3.18, with a turnover of HK$71.1033 million.
According to reports, photos of a “secret meeting” between senior leaders of Huawei and GAC came to light a few days ago. The GAC trip was led by Chi Linchun, president of the Huawei Smart Vehicle Solution BU Marketing and Sales Service Department, and Hu Runze, chief expert. Feng Xingya, general manager of GAC Group, Huang Yongqiang, general manager of GAC Passenger Vehicle, and core technical leaders are all on the list. Outsiders generally speculate that the founder of the GAC side of Huawei's current cooperation project is GAC Trumpchi. GAC and Huawei are likely to reach a major cooperation or be officially announced at the Beijing Auto Show which will open next week.