Dongfeng Motor Group Co. surged almost 90% in Hong Kong after the Chinese automaker said its parent company plans to restructure, a move investors speculated could kick start a wave of consolidation in the nation’s ultra-competitive car market.
Dongfeng Motor Corp. is planning a restructuring with other central state-owned enterprise groups that may lead to a change in its controlling shareholder, Dongfeng Motor Group said in an exchange filing Sunday.
Separately, another legacy automaker in China, Chongqing Changan Automobile Co. said Sunday that its indirect shareholder, China South Industries Group Co., is aiming to restructure with central state-owned enterprise groups ...
