Core Viewpoint - Beijing Automotive (01958) has entered into a conditional equity acquisition agreement with BAIC Group to sell 51% of BAIC International for approximately RMB 1.608 billion, aiming to enhance its international strategy and leverage BAIC Group's resources for overseas development [1][2] Group 1: Equity Sale Details - The total cash consideration for the sale of 51% equity in BAIC International is approximately RMB 1.608 billion, subject to adjustments based on an asset valuation report [1] - After the completion of the transaction, BAIC International will be owned 51% by BAIC Group and 49% by Beijing Automotive, and it will no longer be a subsidiary of Beijing Automotive [1] Group 2: Market Context - The Chinese automotive export market has shown strong growth, with a total export volume of 5.616 million vehicles from January to October, representing a year-on-year increase of 15.7% [1] Group 3: Strategic Implications - The sale is part of Beijing Automotive's strategy to deepen its internationalization efforts and capitalize on overseas opportunities, while still retaining a 49% stake in BAIC International to benefit from its long-term growth [1] - The proceeds from the sale will be used to strengthen the group's general working capital and actively promote business development to enhance the company's core competitiveness and growth capabilities [2]
北京汽车拟约16.08亿元出售北汽国际51%股权