Changan Auto: Parent group restructuring approved

Chongqing Changan Automobile (SZSE:000625) announced that its indirect controlling shareholder, China North Industries Group Corporation (NORINCO Group), is undergoing a strategic reorganization. The State Council's State-owned Assets Supervision and Administration Commission (SASAC) has approved the separation of NORINCO Group, with its automotive business becoming an independent central enterprise. Post-separation, SASAC will transfer its equity in the restructured NORINCO Group to China North Industries Group Co., Ltd. This change will make the new automotive entity the indirect controlling shareholder of Changan Automobile, but the ultimate controller remains unchanged. The company states that the restructuring will not significantly impact its normal business operations. Changan Auto will continue to disclose relevant information and fulfill its disclosure obligations in accordance with regulations. Investors are advised to be aware of uncertainties associated with the reorganization.