An update from BAIC Motor ( (HK:1958) ) is now available.
BAIC Motor Corporation Limited has announced a connected transaction involving the acquisition of power swap stations from BluePark Energy, an indirect 30%-controlled company of BAIC Group. The transaction, valued at approximately RMB128.97 million, is expected to enhance BAIC’s operational capabilities in the energy sector, aligning with its strategic goals and potentially strengthening its market position. This acquisition is subject to reporting and announcement requirements under the Listing Rules, but it is exempt from circular and independent shareholders’ approval.
More about BAIC Motor
BAIC Motor Corporation Limited is a joint stock company incorporated in the People’s Republic of China, primarily engaged in the automotive industry. The company is focused on manufacturing and selling vehicles and related components, with a significant market presence in China.
YTD Price Performance: -4.14%
Average Trading Volume: 6,333
Technical Sentiment Signal: Buy
Current Market Cap: $2.24B
Learn more about 1958 stock on TipRanks’ Stock Analysis page.