Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Dongzheng Automotive Finance / Event-Driven

<ul>
<li>It's now official - <a href="https://www.smartkarma.com/entities/saic-motor-corp-ltd-a" target="_blank" data-smartkarma-citation="entities:20833:1" rel="noopener">SAIC Motor (600104 CH)</a> has <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2022/0527/2022052700075.pdf" target="_blank" rel="noopener">made</a> a possible unconditional mandatory cash Offer for <a href="https://www.smartkarma.com/entities/shanghai-dongzheng-automotive-finance-co-ltd" target="_blank" data-smartkarma-citation="entities:27984:1" rel="noopener">Dongzheng Automotive Finance (2718 HK)</a>.</li>
<li>To recap: on the 19 May, SAIC acquired <a href="https://www.smartkarma.com/entities/china-zhengtong-auto-services" target="_blank" data-smartkarma-citation="entities:17001:1" rel="noopener">China Zhengtong Auto Services Hldg (1728 HK)</a>'s 71.04% stake in Dongzheng at a judicial auction. This triggers the mandatory Offer.</li>
<li>The new news from today's <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2022/0527/2022052700075.pdf" target="_blank" rel="noopener">announcement</a> is that the Offer price was reduced to HK$1.243/share - presumably on account of moves in HKD vs. RMB. The Offer price is final.</li>
</ul>


It's now official - SAIC Motor (600104 CH) has made a possible unconditional mandatory cash Offer for Dongzheng Automotive Finance (2718 HK).
To recap: on the 19 May, SAIC acquired China Zhengtong Auto Services Hldg (1728 HK)'s 71.04% stake in Dongzheng at a judicial auction. This triggers the mandatory Offer.
The new news from today's announcement is that the Offer price was reduced to HK$1.243/share - presumably on account of moves in HKD vs. RMB. The Offer price is final.


SAIC’s Unconditional Offer For Dongzheng

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<ul>
<li>On 19 May, <a href="https://www.smartkarma.com/entities/saic-motor-corp-ltd-a" target="_blank" data-smartkarma-citation="entities:20833:1" rel="noopener">SAIC Motor (600104 CH)</a> emerged as the successful bidder for <a href="https://www.smartkarma.com/entities/china-zhengtong-auto-services" target="_blank" data-smartkarma-citation="entities:17001:1" rel="noopener">China Zhengtong Auto Services Hldg (1728 HK)</a>’s 71.04% stake in <a href="https://www.smartkarma.com/entities/shanghai-dongzheng-automotive-finance-co-ltd" target="_blank" data-smartkarma-citation="entities:27984:1" rel="noopener">Dongzheng Automotive Finance (2718 HK)</a>.</li>
<li>As SAIC will hold 30%+ of the voting rights, it will result in an MGO at a price not less than the auction price of HK$1.294 per H Share.</li>
<li>Dongzheng shares remain in a trading halt. The equity interest will transfer to SAIC and the MGO launched when the Shanghai Financial Court issues an auction sale judgment. </li>
</ul>


On 19 May, SAIC Motor (600104 CH) emerged as the successful bidder for China Zhengtong Auto Services Hldg (1728 HK)’s 71.04% stake in Dongzheng Automotive Finance (2718 HK).
As SAIC will hold 30%+ of the voting rights, it will result in an MGO at a price not less than the auction price of HK$1.294 per H Share.
Dongzheng shares remain in a trading halt. The equity interest will transfer to SAIC and the MGO launched when the Shanghai Financial Court issues an auction sale judgment. 


SAIC Wins the Auction for the 71.04% Stake in Dongzheng, MGO Upcoming

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Thematic (Sector/Industry)

<ul>
<li>Multiple Chinese electric-vehicle (EV) makers posted shrinking monthly deliveries in April as the country’s severe Covid outbreaks disrupted sales channels, supply chains and road transport.</li>
<li>The Covid-19 resurgence in the Yangtze Delta region continues to cause severe industry-wide disruptions in supply chain, logistics and production since late March</li>
<li>China has been battling the worst wave of Covid-19 outbreaks since late March, in which Shanghai logged record daily infections during five weeks of an ongoing citywide lockdown.</li>
</ul>


Multiple Chinese electric-vehicle (EV) makers posted shrinking monthly deliveries in April as the country’s severe Covid outbreaks disrupted sales channels, supply chains and road transport.
The Covid-19 resurgence in the Yangtze Delta region continues to cause severe industry-wide disruptions in supply chain, logistics and production since late March
China has been battling the worst wave of Covid-19 outbreaks since late March, in which Shanghai logged record daily infections during five weeks of an ongoing citywide lockdown.


Chinese EV-Makers’ Deliveries Plunge as Lockdowns Hit Dealers, Plants

Cross Asset Strategy

<ul><li>Data / Five things to know about China’s mega East-West data center plan</li><li>Futures / China to scrutinize foreign businesses in the new futures market</li><li>Fintech / Ant Group to acquire Singaporean payment platform 2C2P</li></ul>

Data / Five things to know about China’s mega East-West data center planFutures / China to scrutinize foreign businesses in the new futures marketFintech / Ant Group to acquire Singaporean payment platform 2C2P

CX Daily: Five Things to Know About China’s Mega East-West Data Center Plan

Founder & CEO Bond Angle, LLC, Bond Angle, LLC

Vicki Bryan

Founder & CEO Bond Angle, LLC

Bond Angle, LLC

Insightful commentary and analysis on bond markets and market movers, including financial, economic, and industry catalysts and management shenanigans. 

High yield market investment research

Credit

<ul>
<li>Early reports of Tesla's "strong" Feb "sales" left out critical data, 
</li>
<li>Like Model 3 deliveries sunk like an anchor, as I expected, and Model Y pace may already be slowing. </li>
<li>
Critical March is now hit with a major Covid outbreak—and lockdowns.</li>
</ul>


Early reports of Tesla's "strong" Feb "sales" left out critical data, 

Like Model 3 deliveries sunk like an anchor, as I expected, and Model Y pace may already be slowing. 

Critical March is now hit with a major Covid outbreak—and lockdowns.


Tesla China Deliveries: Weaker And More Important Than You Think

China

SAIC Motor Corporation Ltd., through joint ventures, manufactures and markets automobiles and related parts and accessories.

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SAIC Motor (600104 CH)

SAIC’s Unconditional Offer For Dongzheng

At HK$1.18/share as I type, this is trading at a gross/annualised spread of 5.3%/19.2%, assuming mid-September completion. Get involved here. This...

David Blennerhassett

SAIC Wins the Auction for the 71.04% Stake in Dongzheng, MGO Upcoming

SAIC, the successful bidder, will hold 30%+ of the voting rights, requiring an MGO at a price not less than the auction price of HK$1.294. Shares...

Arun George

Chinese EV-Makers’ Deliveries Plunge as Lockdowns Hit Dealers, Plants

Multiple Chinese electric-vehicle (EV) makers posted shrinking monthly deliveries in April as the country’s severe Covid outbreaks disrupted sales...

Caixin Global

CX Daily: Five Things to Know About China’s Mega East-West Data Center Plan

Five things to know about China’s mega East-West data center plan. China to scrutinize foreign businesses in the new futures market

Caixin Global

Tesla China Deliveries: Weaker And More Important Than You Think

Early reports of Tesla's "strong" Feb "sales" left out critical data, like Model 3 sunk like an anchor, as I expected, and Model Y pace may already...

Vicki Bryan

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