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Voyah Automotive Technology Co Ltd Class H ( (HK:7489) ) has provided an announcement.
Voyah Automotive Technology has disclosed that Dongfeng Motor (Hong Kong) International, a subsidiary of controlling shareholder Dongfeng Motor Corporation, has increased its stake in the company by purchasing 20,192,000 H shares on the secondary market, equivalent to about 0.55% of total issued shares. Following this move, Dongfeng Motor Corporation and its related controlling entities now collectively hold approximately 70.02% of Voyah’s total issued share capital, consolidating control while the company continues to monitor the implementation of the broader shareholding increase plan and cautions investors about potential market-related risks to its completion.
The enlarged controlling stake underscores strong backing from the state-owned parent group, which may support Voyah’s strategic and capital market positioning as it develops its new energy vehicle business. However, the company notes that the shareholding increase plan may not be fully executed if capital market conditions or other unforeseen factors change, signaling residual uncertainty for minority shareholders and potential investors regarding the pace and scale of further stake-building.
The most recent analyst rating on (HK:7489) stock is a Buy with a HK$8.10 price target. To see the full list of analyst forecasts on Voyah Automotive Technology Co Ltd Class H stock, see the HK:7489 Stock Forecast page.
More about Voyah Automotive Technology Co Ltd Class H
Voyah Automotive Technology Co., Ltd. is a Chinese new energy vehicle manufacturer listed in Hong Kong, operating within the automotive sector under the umbrella of state-owned Dongfeng Motor Corporation. The company focuses on designing and producing electric and intelligent vehicles, targeting both the domestic Chinese market and international investors through its H-share listing.
Average Trading Volume: 13,414,834
Learn more about 7489 stock on TipRanks’ Stock Analysis page.