Changan Automobile Announces the Progress of Its New Energy Technology Company's Public Listing and Capital Increase

[TechWeb] on June 12, Changan Motor, a listed company on the Shenzhen Stock Exchange, announced this morning the progress of its new energy technology company's public listing to increase capital.

Screenshot of Changan Automobile

Changan car announcement screenshot

According to the announcement, on October 22, 2018, Chongqing Changan New Energy Automobile Technology Co., Ltd. (hereinafter referred to as “New Energy Technology Company”), a wholly-owned subsidiary of Chongqing Changan Automobile Co., Ltd. (hereinafter referred to as “Changan Automobile” or “Company”) ) It is publicly listed on the Shanghai United Assets and Equity Exchange and intends to introduce no less than three strategic investors through public listing and capital increase.

Changan Automobile stated that the company applied to the Shanghai United Assets and Equity Exchange on June 11, 2019 to temporarily suspend the public listing and capital increase. In the follow-up, the company will further optimize the new energy technology company's mixed-reform plan, introduce social capital from the opportunity, enhance the core competitiveness of the new energy technology company, and steadily promote the company's new energy strategy “Shangri-La Plan”.

As of release, SZ:000625 fell 1.19 per cent to 6.62 yuan, with a total market capitalization of about 31.697 billion yuan.

Changan Automobile announced its new energy technology open listing capital increase progress

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