Changes in Hong Kong stocks | GAC Group (02238) rose more than 5% FAW plans to become GAC's second-largest shareholder, Qijing GX7 scheduled to be released on September 23

The Zhitong Finance App learned that GAC Group (02238) rose by more than 5%. As of press release, it had risen 5.05% to HK$2.39, with a turnover of HK$61.6121 million.

According to the news, on September 14, the GAC Group announced that in order to promote the optimal integration of industrial resources between local state-owned enterprises and central enterprises and enhance the operating efficiency of listed companies, the company signed an “Intent Agreement” with China First Automobile Co., Ltd. to plan to purchase part of the shares held by FAW Co., Ltd. by issuing shares and raise supporting capital. According to preliminary estimates, after the transaction is completed, FAW Co., Ltd. will become the company's second-largest and strategically influential shareholder.

It is worth mentioning that Qijing Auto announced today that the launch conference for the Qijing GX7 five-seat smart and versatile SUV is officially scheduled for September 23. The official poster mentioned that the brand is GAC teamed up with Huawei Qiankun to build a high-end smart car brand. It is worth mentioning that the Qijing GX7 was pre-sold 18 hours ago, and orders exceeded 20,000 units. In the 300,000-class NEV market, this speed is rare.