Di Yi Cai Jing·2025-08-25 13:36Core Viewpoint - Dongfeng Group's privatization and delisting process is advancing, with a merger agreement signed between Dongfeng Investment and Dongfeng Group, leading to a deeper level of privatization for Dongfeng Group [2][3]. Group 1: Privatization Details - Dongfeng Investment, a wholly-owned subsidiary of Dongfeng Motor Group, will absorb Dongfeng Group, resulting in Dongfeng Investment directly holding 55% of Dongfeng Shares [2]. - The privatization process involves a combination of "equity distribution + absorption merger," which is different from previous state-owned enterprise privatization transactions [2][3]. Group 2: Merger Process - In the first phase, Dongfeng Group will distribute 79.67% of its stake in Lantu Motors to all shareholders, followed by Lantu Motors' introduction to the Hong Kong Stock Exchange [3]. - In the second phase, Dongfeng Investment will pay equity compensation to Dongfeng Group's controlling shareholder and cash compensation to minority shareholders, achieving 100% control over Dongfeng Group [3]. Group 3: Market Reaction - Following the announcement, Dongfeng Group's stock price surged nearly 70% at the opening, closing at 9.2 HKD, with a total market capitalization of 75.924 billion HKD, up from 39.12 billion HKD on July 31 [3].