Guangzhou Automobile Group Co Ltd (2238.HK)
22 Sep 2017
HONG KONG China's Tencent Holdings and Guangzhou Automobile Group Company Ltd have agreed to collaborate on internet-connected cars - a strategic pact that sent shares in Guangzhou Auto surging.
* up 7 percent in Hong Kong after entering agreement with Tencent Holdings
HONG KONG, Sept 19 Chinese internet giant Tencent Holdings and Guangzhou Automobile Group Company Ltd said on Monday they had agreed to collaborate on connected cars.
* Says it signs strategic framework agreement with Shenzhen Tencent Computer Systems on automobile business
* Says it will pay cash dividend of 0.1 yuan(before tax)/share for H1 2017 to shareholders of record on Sep. 13
* Says it sold 157,661 vehicles in August, up from 127,697 units year ago
* Says board approves Guangqi Honda Automobile's vehicle project with investment of 980.4 million yuan ($148.75 million)
* Says it gets securities regulator's approval to issue A-shares in private placement
* Says H1 net profit up 55.3 percent y/y at 6.2 billion yuan ($931.17 million)
BEIJING China's Guangzhou Automobile Group Co Ltd has no plans to acquire automaker Fiat Chrysler Automobiles (FCA) NV , a company spokesperson said on Friday.