DONGFENG GROUP (00489) announced that on September 17, 2025, the company, Dongfeng Motor Co., Ltd. (a jointly controlled entity and deemed subsidiary of the company), Xiangyang Holdings, and Xianggao Investment entered into an investment agreement. Under this agreement, the contracting parties will jointly establish a joint venture company through capital contributions.

The joint venture company will have a registered capital of RMB 8.47 billion. DONGFENG GROUP and Dongfeng Motor Co., Ltd. will contribute RMB 3.55 billion and RMB 920 million respectively through intangible asset usage rights and physical assets, representing approximately 41.9% and 10.9% of the joint venture's registered capital respectively. Xiangyang Holdings and Xianggao Investment will contribute RMB 2.88 billion and RMB 1.12 billion respectively in cash, representing 34% and 13.2% of the joint venture's registered capital respectively.

The joint venture company is expected to primarily engage in the manufacturing and sales of intelligent off-road vehicles. The contracting parties intend to cooperatively develop and sell intelligent vehicles. The establishment of the joint venture will enable the integration of financial resources, research and development expertise, and manufacturing capabilities of the contracting parties in automotive production and sales.