GAC Group suspended all day due to unannounced major matters; multiple auto stocks moved sharply

Corporate ActionM&A · PartnershipRegulation Impact 4
โดย 大众证券报·CN·Read original
Summary · why it matters

GAC Group was abruptly suspended on the morning of September 14. Shanghai Stock Exchange suspension and resumption information showed that the stock was suspended for the entire day because of an unannounced major matter. There have been market rumors that FAW Group may obtain equity in GAC Group through asset transfers or other means, and the two will form a joint venture relationship. Regarding the suspension, Dazhong Securities News called the company's investor hotline, but company staff did not give a direct response, saying the hotline was only for investors. At a National Development and Reform Commission press conference on September 11, relevant officials said they would support large automobile enterprise groups in carrying out reforms, promote mergers and reorganizations among enterprises in a market-oriented and law-based manner, support leading enterprises in effectively integrating research and development, production, and other resources, and avoid homogeneous competition in product design, technology research and development, and other areas. In the morning, multiple stocks in the auto sector moved sharply. Among them, Zotye Auto achieved four daily limit-up moves in five trading days. Shanjiao Hi-Tech, which is related to the company planning to acquire Nezha Auto, hit the daily limit-up at the opening with more than 1.9 million lots queued at the first buy price. Ankai Bus, Haima Automobile, and several other stocks also hit the daily limit-up in a straight line.

Impact on stocks 5

Others▲ · 5 stocks

Theme Impact 2

Off-coverage companies 1

Neta Auto (Hozon New Energy Automobile)Private± Mixed
Capitalrelevance

Neta Auto is referenced only via Shanjiao Hi-Tech's plan to acquire it, a passing M&A context mention.

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