Dongfeng Motor to receive CNY 14.27m in asset acquisition

Dongfeng Automobile Co., Ltd. (SSE:600006) disclosed that the Land Reserve Supply Center of Xiangyang High-tech Industrial Development Zone will acquire the buildings and attachments of its foundry plant, located on land owned by Dongfeng Automobile Group Co., Ltd. The total acquisition price is CNY 14,266,576.8. This move supports the relocation project of the company's foundry branch. Approved at the company's seventh session of the fourteenth board of directors meeting, the acquisition is not a related party transaction nor a major asset restructuring. The company expects a positive impact on its earnings after deducting asset costs and taxes.