Core Viewpoint - Beijing Automotive (01958) has announced a strategic move to sell 51% of its subsidiary, BAIC International, to BAIC Group for approximately RMB 1.608 billion, aiming to enhance its internationalization strategy and leverage BAIC Group's resources for overseas expansion [1] Group 1: Company Actions - On November 21, Beijing Automotive signed a conditional equity acquisition agreement with BAIC Group to sell 51% of BAIC International [1] - The total cash consideration for the sale is approximately RMB 1.608 billion, subject to final valuation based on an asset appraisal report [1] - After the completion of the sale, Beijing Automotive will retain a 49% stake in BAIC International, allowing it to benefit from the subsidiary's long-term growth [1] Group 2: Industry 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] - The sale of BAIC International's stake is part of Beijing Automotive's strategy to deepen its international presence and capitalize on overseas opportunities [1]
北京汽车涨超4% 拟约16.08亿元出售北汽国际51%股权 加速推进国际化战略