Changan Minsheng Parent China South Industries Completes Spin Off of Auto Business

MT Newswires Live

07/29

Changan Minsheng APLL Logistics (HKG:1292) said its indirect parent, China South Industries Group, completed the spinoff of its auto business into a newly formed state-controlled enterprise, according to a Tuesday Hong Kong bourse filing.

The auto business was established as China Changan Automobile Group and China South Industries transferred its equity interest in ChenZhi Automobile Technology Group to the new entity.

The reorganization did not change the company's ultimate controller.

Shares of Changan Mingsheng were about 9% higher in recent trade.

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