Core Viewpoint - The stock price of Dongfeng Group (00489) surged due to the approval of its restructuring plan by the mainland government, marking a significant step in its privatization and business separation strategy [1] Group 1: Restructuring Plan - Dongfeng Group announced a privatization plan on August 22 last year, intending to delist from the Hong Kong Stock Exchange and spin off its electric vehicle business, "Lantu," for independent listing [1] - The approval from the mainland government is a crucial milestone in the restructuring process [1] Group 2: Investment Rating - Morgan Stanley upgraded Dongfeng's investment rating to "Overweight" last year, anticipating that the privatization will unlock the company's potential value [1] - The firm maintains an "Overweight" rating and a target price of HKD 11 for Dongfeng [1]

据悉，本次私有化合并及相关交易自启动以来，已历经多轮信息披露与推进。回溯交易进程，各方曾于 2025 年 8 月 22 日发布规则 3.5 公告， 明确了私有化合并（简称 "合并"）、岚图股份分派（简称 "分派"）等核心内容；2025 年 9 月 19 日，各方公告达成获岚图股份持有人批准的合 并先决条件；此后又陆续发布关于延长综合文件寄发时限、介绍上市最新消息及每月交易更新等系列公告，持续推进交易落地。 1 月 13 日，东风汽车集团有限公司（简称 "东风公司"）、东风汽车集团（武汉）投资有限公司（简称 "要约人"）及东风汽车集团股份有限公 司（简称 "本公司"）联合发布公告，宣布要约人通过吸收合并方式将本公司私有化相关的关键先决条件已达成重要进展 —— 合併先决条件第 (1) 项所要求的相关政府批准、备案或登记已全部完成。 根据此前披露的合并协议，本次合并需满足三项核心先决条件。其中，第 (1) 项要求获得国家发改委、商务部、国家外汇管理局等相关部门的 批准、备案或登记（如适用）及其他相关政府批准。公告明确，截至本公告日期，该项先决条件已正式达成，要约人及本公司已向相关政府机 关完成或取得所需全部审批文件 ...

东风集团股份(00489.HK)公告称，公司2025年累计汽车销量为1,896,185辆，同比增长约0.01%。其中， 新能源汽车销量为562,833辆，同比增长约42.62%。公司之母公司东风汽车集团有限公司1-12月累计汽 车销量为2,472,536辆，同比下降约0.33%。 ...

【文/观察者网 潘昱辰 编辑/高莘】1月13日，东风汽车集团有限公司、东风汽车集团（武汉）投资有限 公司和东风汽车集团股份有限公司（即香港上市公司"东风集团股份"）发布联合公告，称东风汽车集团 （武汉）投资有限公司通过吸收合并方式将东风集团股份私有化、东风集团股份分派岚图股份及撤销东 风集团股份上市地位的建议，已获得国家发改委、商务部及国家外汇管理局的批准、备案或登记以及与 合并相关的其他适用政府批准。 同时，岚图已获得岚图股权持有人或（于岚图公司改制完成后）股份持有人就分派及介绍上市取得所需 的批准。 东风集团联合公告 东风集团股份 不过，以上建议尚未获得介绍上市所需的中国证监会国际合作司对介绍上市的备案、联交所对介绍上市 的原则性批准及介绍上市所需的其他主管部门的批准。 联合公告称，待以上批准完成后，将适时另行刊发公告，但不保证能满足任何或全部合并先决条件或合 并条件，也不能保证合并协议生效；倘若生效，亦不一定会实施或完成；同样无法保证分派条件能够满 足。 截至1月13日港股收盘，东风集团股份股价大涨6.79%，报收9.12港元。 本文系观察者网独家稿件，未经授权，不得转载。 此前于2025年8月，东风集 ...

Core Viewpoint - Dongfeng Group's privatization and the listing of its subsidiary, Lantu Automotive, have made significant progress with the approval from various government bodies, indicating a strategic move towards enhancing its market position and operational efficiency [2][3]. Group 1: Privatization and Listing Process - Dongfeng Group has received necessary approvals from the National Development and Reform Commission, Ministry of Commerce, and State Administration of Foreign Exchange for its privatization through a merger with Dongfeng Wuhan Company [2]. - The transaction involves a combination of "equity distribution + absorption merger," where Dongfeng Group will distribute 79.67% of its shares in Lantu Automotive to all shareholders before Lantu's introduction listing on the Hong Kong Stock Exchange [2]. - The merger requires three preconditions, with the first two now met: government approvals and necessary shareholder approvals for Lantu's equity distribution and listing [3]. Group 2: Market Performance and Future Prospects - In 2025, Dongfeng Group reported total vehicle sales of 1.8962 million units, a slight increase of approximately 0.01%, with electric vehicle sales reaching 562,800 units, marking a year-on-year growth of about 42.62% [5]. - Lantu Automotive contributed 150,200 units to the total electric vehicle sales, accounting for 26.69% of the company's electric vehicle sales [5]. - Lantu Automotive is expected to complete its listing process in the first half of 2026, leveraging a unique introduction listing method that allows existing shares to be publicly traded without issuing new shares [4].

2026 年 1 月 13 日 透過合併進行私有化 完 註： 就東風汽車集團股份有限公司的股份的交易披露 執行人員接獲依據香港《公司收購及合併守則》規則 22 作出以下的證券交易的披露： | 交易方 | 日期 | 買入／賣出 | 股份數目 每股價格 | | 交易後數額（包括與其訂有協議或 | 佔該類別證券的百分比（包括與其訂有協議 | | --- | --- | --- | --- | --- | --- | --- | | | | | | | 達成諒解的任何人士的證券） | 或達成諒解的任何人士的證券）% | | BlackRock, Inc. | 2026 年 1 月 12 日 | 買入 | 16,000 | $8.5475 | 125,046,614 | 5.0175% | | | | 買入 | 14,000 | $8.5400 | 125,060,614 | 5.0181% | | | | 買入 | 73,254 | $8.6700 | 125,133,868 | 5.0210% | | | | 買入 | 32,000 | $8.5438 | 125,165,868 | 5.0223% | | | | ...

2026 年 1 月 12 日 透過合併進行私有化 就東風汽車集團股份有限公司的股份的交易披露 註： BlackRock, Inc.憑藉持有受要約公司的普通股，所以根據第(6)類別屬受要約公司的聯繫人。 交易是為全權委託投資客戶的帳戶進行的。 交易在美國交易所進行。 交易披露 執行人員接獲依據香港《公司收購及合併守則》規則 22 作出以下的證券交易的披露： | 交易方 | 日期 | | | | 買入／賣 股份數目 | 每股價格 | 交易後數額（包括與其訂 | 佔該類別證券的百分比 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | 出 | | 有協議或達成諒解的任 | （包括與其訂有協議或 | | | | | | | | | 何人士的證券） | 達成諒解的任何人士的 | | | | | | | | | | 證券）% | | BlackRock, Inc. | 2026 | 年 1 | 月 9 | 日 | 買入 | 325,324 $8.6700 | 125,030,614 | 5.0169% | 完 ...

作者丨彭鑫 1月12日，东风集团股份在港交所公告，公司2025年1-12月累计汽车销量为1,896,185辆，同比增长约 0.01%。其中，新能源汽车销量为562,833辆，同比增长约42.62%。公司之母公司东风汽车集团有限公司 1-12月累计汽车销量为2,472,536辆，同比下降约0.33%。公司之附属公司东风汽车股份有限公司1-12月 累计汽车销量为119,016辆，同比下降约23.22%。 编辑丨安安 ...

Group 1 - Dongfeng Motor Group (00489.HK) announced the approval of its proposal to privatize through a merger, distribute Lantu shares, and withdraw from the stock market, having received necessary government approvals from the National Development and Reform Commission, Ministry of Commerce, and State Administration of Foreign Exchange [2] - The merger proposal has met a key condition for the merger process, indicating progress in the company's strategic restructuring [2] - The announcement reflects Dongfeng's ongoing efforts to streamline operations and enhance shareholder value through this privatization initiative [2]

Group 1 - Dongfeng Motor Group Co., Ltd. announced the approval of its privatization plan through a merger, which includes the distribution of Lantu shares and the withdrawal of its public listing status [1] - The plan requires further approvals from the China Securities Regulatory Commission and the Hong Kong Stock Exchange for the introduction of the listing, along with other necessary regulatory approvals [2] - The transaction will be executed in two main phases: first, the distribution of 79.67% of Lantu shares to all shareholders, followed by Lantu's introduction to the Hong Kong Stock Exchange [2] Group 2 - Dongfeng Motor Group's subsidiary, Lantu Automotive, has completed its business registration change and officially renamed itself to "Lantu Automotive Technology Co., Ltd." [2] - The chairman of Lantu Automotive Technology Co., Ltd. has been changed to Lu Fang, who also holds the position of general manager [2] - Lantu Automotive has submitted its listing application to the Hong Kong Stock Exchange on October 2 [2]