Dongfeng Group shares (00489) rose more than 4% in early trading. As of press release, it had risen 3.45% to HK$3, with a turnover of HK$31,313 million.
The Zhitong Finance App learned that Dongfeng Group shares (00489) rose by more than 4% in early trading. As of press release, it had risen 3.45% to HK$3, with a turnover of HK$31,313 million.
According to the news, the controlling shareholder Dongfeng Motor Company has continuously increased its H shares recently. On April 17, Dongfeng Motor Company increased its H shares by 3.16 million shares at an average price of HK$2.77; on April 19, Dongfeng Motor Company increased its H shares by 5.85 million shares at an average price of HK$2.79 per share; on April 22, Dongfeng Motor Company increased its H shares by 4.36 million shares at an average price of HK$2.9 per share; on April 23, Dongfeng Motor Company increased its H shares by 4.806 million shares at an average price of HK$2.92 per share.
Furthermore, Dongwu Securities pointed out that under the electrification logic, the market share of central state-owned enterprises is already quite limited. Looking forward to the next broad logic of the industry: intelligent level: optimistic about the endogenous growth of central state-owned enterprises + gradually leading the industry with complementary advantages with Huawei; at the global level: Central state-owned enterprises are actively promoting localized production strategies to enhance the global competitiveness of Chinese car companies. At the same time, the reverse export trend of joint venture brands is also quite clear. Central state-owned enterprises are the main force in Chinese passenger car exports. Therefore, on the premise that the overall valuation of central state-owned enterprises is low, the strategy is optimistic about the systemic valuation reshaping of central state-owned enterprises and car companies.