New Central SOE China Changan Automobile Group Established, Management Team Set to Debut
The new central enterprise China Changan Automobile Group is here!
On July 27, China Changan Automobile Group Co., Ltd. was established with a registered capital of 20 billion yuan. The legal representative is Zhu Huarong, and the registered location is in Chongqing. The business scope includes automobile sales, sales of new energy vehicles, and research and development of auto parts, among others.
On July 28, the official accounts of "China Changan Automobile Group" with certification information as "China Changan Automobile Group Co., Ltd." have been successively launched on Weibo, WeChat Official Accounts, and Video Accounts.
On the morning of July 28th, Zhu Huarong, Chairman of Changan Automobile, posted on Weibo: "New mission, new journey, witness together, set off towards the new." Changan Automobile's official Weibo also posted the same content.
It is reported that China Changan Automobile Group Co., Ltd. plans to hold its founding ceremony on July 29 and the first media briefing of the new group on July 30. At that time, the core management team of the group will make a collective appearance, and the heads of various sub-brands will provide detailed explanations of the performance in the first half of 2025 and the business plans for the second half of the year.
On June 5th, Changan Automobile announced that its indirect controlling shareholder, China South Industries Group Corporation, received a notice from the State-owned Assets Supervision and Administration Commission of the State Council. With the approval of the State Council, the division of South Industries Group will be implemented.
The automotive business of the Ordnance Equipment Group will be separated into an independent central enterprise, with the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) performing the duties of the investor. SASAC will, according to procedures, inject the equity of the separated Ordnance Equipment Group as capital contribution into China North Industries Group Corporation Limited.
On the evening of June 23, Changan Automobile announced that it had received a notification from its controlling shareholder, China Changan Automobile Group Co., Ltd., that its name had been changed from "China Changan Automobile Group Co., Ltd." to "ChenZhi Automobile Technology Group Co., Ltd." The relevant industrial and commercial registration procedures have been completed, and a business license has been obtained.
Chang'an Automobile stated that the aforementioned industrial and commercial registration changes do not involve any changes in the number or proportion of shares held by the shareholder, do not affect the company's governance or production and operation activities, and will not lead to a change in the controlling shareholder or actual controller of the company.
As of the close on July 28, Changan Automobile's stock price was 13.37 yuan per share, with a latest market capitalization of 117.1 billion yuan.
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