The equity sale of Dongfeng Honda Engine has seen substantial headway. On the afternoon of December 15th, journalists from Lan Jing Auto paid a visit to the Dongfeng Honda Engine Company, situated at 111 Guangben Road, Hengsha, Huangpu District, Guangzhou. There, they observed that the 'Dongfeng HONDA' signage, which had adorned the rooftop of this 27 - year - old, seasoned joint - venture engine firm, had been removed. Other associated logos on the walls were also gone. According to well - informed insiders, these relevant logos were taken down on December 13th, with the intention of replacing them with a 'GAC HONDA' signage. The new logo is currently in the production stage. Moreover, employees' caps have already been switched to styles featuring the GAC Honda logo, and factory uniforms are set to undergo a uniform change at a later date.

Founded in July 1998, Dongfeng Honda Engine is a joint venture between Dongfeng Motor and Honda. Its main responsibilities encompass the research and development, production, and sales of engines and components for passenger vehicles, along with offering after - sales services. Its products are predominantly utilized in a range of passenger car models produced by GAC Honda.

On October 30th of this year, GAC Honda inked a property rights transaction contract with Dongfeng Group, aiming to acquire a 50% stake in Dongfeng Honda Engine for RMB 1.172 billion. On November 18th, the acquisition entered a public announcement phase, which spanned from November 18th to November 27th. Once the transaction is finalized, GAC Honda will own 100% of Dongfeng Honda Engine's shares, transforming it into a wholly - owned subsidiary.

GAC Group has stated that this acquisition will streamline GAC Honda's integrated operations in the engine sector. It will enhance supply chain stability and independence, improve management efficiency, cut costs, and elevate operational performance. This move will also lay a solid foundation for the group's accelerated shift towards intelligence and electrification.