Weichai M&A Predicts Competition in Commercial Vehicles Will Upgrade
According to announcements on the Hong Kong Stock Exchange and the Shenzhen Stock Exchange on Thursday, H-shares of China's largest diesel engine manufacturer, Weichai Power Co., Ltd. suspended trading in the morning and A-shares suspended trading since the market opened on Thursday. According to the announcement, the suspension of this time was due to media reports that the company may be involved in mergers and acquisitions transactions.
The 21st Century Business Herald reported on Thursday that it has learned from the Shandong State-owned Assets Supervision and Administration Commission that due to the reorganization of Weichai Holding Group and Shandong Construction Machinery Group Company, Shantui Group’s largest domestic bulldozer manufacturer, Shantui Shares, is expected to have a controlling stake. Transferred to Weichai Power held by Shandong State-owned Assets Supervision and Administration Commission. Shantui shares also temporarily suspended trading on Thursday.
“The background of this restructuring is to accelerate the merger and reorganization of major industries such as construction machinery, auto parts and steel, and to accelerate the optimization and upgrading of the state-owned economy's distribution structure,†said the insider of the Shandong State-owned Assets Supervision and Administration Commission.
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