Guangzhou Automobile Group Co ( (HK:2238) ) just unveiled an update.
Guangzhou Automobile Group Co., Ltd. has announced the signing of new agreements for the provision of logistics services related to vehicle products and components with its joint venture partners, including subsidiaries of Toyota and Honda. These agreements, effective from January 1, 2025, to December 31, 2027, represent continuing connected transactions under Hong Kong’s Listing Rules. The transactions have been approved by the company’s board and are deemed to be on normal commercial terms, exempting them from independent shareholders’ approval. The Stock Exchange has granted waivers regarding certain reporting requirements, allowing the company to continue these logistics services without setting aggregate annual caps or disclosing total annual consideration in its reports.
More about Guangzhou Automobile Group Co
Guangzhou Automobile Group Co., Ltd. is a joint stock company incorporated in the People’s Republic of China, primarily engaged in the automotive industry. The company focuses on the production and distribution of vehicle products, parts, and components, with significant joint ventures involving major automotive players Toyota and Honda.
YTD Price Performance: -6.19%
Average Trading Volume: 3,712
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $9.96B
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