Dongfeng Group joins hands with multiple parties to establish new joint venture

Dongfeng Group Co., Ltd. signed an agreement with Dongfeng Motor Corporation, Xiangyang Holdings and Xianggao Investment to jointly invest 8.47 billion yuan to establish a new joint venture. Dongfeng Group holds a 41.9% stake in the joint venture with technical assets, and Xiangyang State-owned Assets holds a 47.2% stake in the joint venture with cash investment.