2 1 Shi Ji Jing Ji Bao Dao·2025-06-05 02:07Core Viewpoint - The speculation regarding the merger between Changan Automobile and Dongfeng Motor has been officially concluded, with both companies announcing their latest developments in the restructuring process [1][3]. Group 1: Company Announcements - Changan Automobile announced that its indirect controlling shareholder, China Ordnance Equipment Group, will separate its automotive business into an independent central enterprise, maintaining the same actual controller [1]. - Dongfeng Motor announced that its indirect controlling shareholder, Dongfeng Motor Corporation, will not be involved in any asset or business restructuring at this time, ensuring that its normal operations will not be affected [3][4]. Group 2: Market Reactions - Following the announcements, Changan Automobile's stock price increased by 1.11%, reaching 12.7 CNY per share, while Dongfeng Motor's stock price fell by 5.3%, dropping to 7.51 CNY per share [5][7]. - The market had previously anticipated a merger, leading to heightened expectations for both companies, which contributed to the contrasting stock performances [5][8]. Group 3: Background Context - The speculation about the merger dates back to February 9, when both companies announced that their controlling shareholders were planning restructuring, which led to market discussions about a potential merger [7]. - On March 29, the State-owned Assets Supervision and Administration Commission (SASAC) indicated that it was advancing the restructuring of the automotive industry to enhance competitiveness and resource concentration [8].