Dongfeng Asset Management Launches H Share Increase Plan for Lantu Automobile, First Phase Not Exceeding 250 Million Yuan

IT Home, March 30: Voyah Automobile announced tonight that the company has received notification from Dongfeng Asset Management Co., Ltd. (Dongfeng Asset Management), one of its controlling shareholders, stating that Dongfeng Asset Management plans to increase its holdings of the company’s H-shares within 12 months from the date of this announcement.The proposed initial increase in holdings shall not exceed RMB 250 million in aggregate.。

As of the date of this announcement, the controlling shareholder of Lingtu Automotive, Dongfeng Motor Corporation Limited, Dongfeng Asset Management, and Wuhan Woya Enterprise Management Consulting Partnership (Limited Partnership) collectively hold 2,438,479,300 A-shares and 118,184,609 H-shares of the Company.Approximately 69.47% of the total issued shares of the company。

According to a previous report by IT Home, Voyah Automobile was listed on the Hong Kong Stock Exchange on March 19, touted as “the first high-end new-energy vehicle stock of central and state-owned enterprises,” with its stock code:07489.HKAccording to the announcement, Lantu Auto's listing plan adopts a "share distribution + absorption merger" combined model, with the two major steps being prerequisites for each other and advancing simultaneously.

In the first phase, Dongfeng Motor Group distributed its 79.67% equity in LYNK & CO to all shareholders according to the holding ratio. Subsequently, LYNK & CO was listed on the Hong Kong Stock Exchange through an introduction listing (no new shares issued, no immediate fundraising, only existing shares are traded).

In the second phase, Dongfeng Motor's domestic wholly-owned subsidiary, Dongfeng Motor Group (Wuhan) Investment Co., Ltd., acts as the acquiring entity, paying equity consideration to the controlling shareholder of Dongfeng Motor Group, and cash consideration to other minority shareholders, ultimately achieving 100% control over Dongfeng Motor Group, completing its privatization and delisting from the Hong Kong stock market.