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BAIC Motor ( (HK:1958) ) has provided an update.
BAIC Motor Corporation Limited announced its entry into a Partnership Agreement with Shenzhen Anpeng, BAIC Group, BAIC Investment, and Beiqi Foton, with a commitment of RMB500 million as a limited partner. This partnership aims to invest in the automotive industry’s upstream and downstream sectors, focusing on areas like clean energy and intelligent connectivity. The transaction is classified as a connected transaction under Hong Kong’s Listing Rules, requiring reporting and announcement but exempt from circular and independent shareholders’ approval due to its percentage ratio.
The most recent analyst rating on (HK:1958) stock is a Hold with a HK$2.00 price target. To see the full list of analyst forecasts on BAIC Motor stock, see the HK:1958 Stock Forecast page.
More about BAIC Motor
BAIC Motor Corporation Limited is a joint stock company incorporated in the People’s Republic of China, primarily operating in the automotive industry. The company focuses on equity investment, investment management, and asset management through private equity funds, with a particular emphasis on automotive-related industries and extended fields such as clean energy, intelligent connectivity, high-end equipment manufacturing, and new materials.
Average Trading Volume: 12,758,438
Technical Sentiment Signal: Buy
Current Market Cap: HK$17.95B
Learn more about 1958 stock on TipRanks’ Stock Analysis page.