Dongfeng Group (00489) surged over 15%, as of the time of writing, up 15.31%, priced at 3.69 Hong Kong dollars, with a transaction volume of 0.465 billion Hong Kong dollars.
According to Zhito Finance APP, Dongfeng Group (00489) surged over 15%, as of the time of writing, up 15.31%, priced at 3.69 Hong Kong dollars, with a transaction volume of 0.465 billion Hong Kong dollars.
On the news front, the CSRC has recently officially released the "14 Guidelines for Market Cap Management", which particularly requires main index constituents and long-term companies with a pb below 1 to formulate valuation enhancement plans. China Securities Co., Ltd. indicates that the introduction of market cap management guidelines will lead companies to enhance their value through increase stake & buy back, capital operations, dividends, and other methods, with valuations returning to 1XPB. Data shows that Dongfeng Group's pb is only about 0.18.
It is worth mentioning that on November 10, the Wuhan Economic Development Zone's official WeChat account released news that a consortium led by Dongfeng Automobile has established the Hubei Province Automotive-grade Chip Industry Technology Innovation Alliance, releasing a high-performance automotive-grade MCU chip—DF30, filling a domestic gap. Additionally, on November 12, Dongfeng Nissan announced that it has become the first joint venture brand to cooperate comprehensively with Huawei Hongmong, and both parties will create an intelligent and comfortable travel experience together.