Dongfeng Motor Group (HKG:0489) has fulfilled a key regulatory precondition for its proposed privatization by its parent through a merger by absorption, according to a Tuesday Hong Kong bourse filing.

The automaker said it has obtained the necessary approvals from Chinese authorities, including the National Development and Reform Commission (NDRC), the Ministry of Commerce (MOFCOM), and the State Administration of Foreign Exchange (SAFE), thereby satisfying one of the merger preconditions.

A separate precondition relating to shareholder approvals for the proposed distribution of shares in its electric vehicle unit Voyah has already been met, it added.

The remaining precondition concerns regulatory approvals for Voyah's proposed Hong Kong listing by introduction, which has yet to be fulfilled, the company said.

The transactions form part of a restructuring plan announced in August 2025, under which Dongfeng plans to privatize through a merger by absorption while separately spinning off and listing its electric vehicle unit.

Under the proposal, Dongfeng H-shareholders are set to receive HK$6.68 in cash and 0.3552608 Voyah H shares for each Dongfeng H share held, based on earlier disclosures.

Shares of Dongfeng Motor jumped nearly 5% in recent trade.