BAIC Motor ( (HK:1958) ) just unveiled an announcement.
BAIC Motor Corporation Limited has entered into a Financial Services Framework Agreement with BAIC Automotive Finance, a wholly-owned subsidiary of its controlling shareholder, BAIC Group. This agreement, effective from March 31, 2025, to December 31, 2025, allows BAIC Automotive Finance to provide automotive financial services to BAIC Motor. The transactions under this agreement are classified as continuing connected transactions under Hong Kong’s Listing Rules, requiring reporting and annual review but exempt from circular and independent shareholders’ approval due to their scale. This agreement is expected to streamline financial operations within the group, potentially enhancing BAIC Motor’s financial management and operational efficiency.
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 focuses on manufacturing and distributing vehicles and automotive parts, and it operates under the control of BAIC Group, which holds a significant share of the company’s issued capital.
YTD Price Performance: -6.21%
Average Trading Volume: 6,778
Technical Sentiment Signal: Buy
Current Market Cap: $2.22B
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