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    2238   CNE100000Q35

GUANGZHOU AUTOMOBILE GROUP CO., LTD.

(2238)
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Guangzhou Automobile : CHANGE OF STAFF REPRESENTATIVE SUPERVISOR

09/21/2020 | 07:35am EDT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

GUANGZHOU AUTOMOBILE GROUP CO., LTD.

廣 州 汽 車 集 團 股 份 有 限 公 司

(a joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 2238)

CHANGE OF STAFF REPRESENTATIVE SUPERVISOR

Guangzhou Automobile Group Co., Ltd. (the "Company", together with its subsidiaries, the "Group") held a staff representatives' meeting on 15 September 2020 whereat Mr. Shi Lei ("Mr. Shi") was elected as the staff representative supervisor of the supervisory committee of the Company (the "Supervisory Committee") by way of secret ballot. Mr. He Jinpei ("Mr. He") has resigned as the staff representative supervisor of the fifth session of the Supervisory Committee due to work reallocation. The above changes were effective from 21 September 2020.

Mr. He confirms that he has no disagreement with the board of directors of the Company (the "Board"), the Supervisory Committee and the Company, and there are no matters in respect of his resignation that need to be brought to the attention of the shareholders of the Company.

The biographical details of Mr. Shi, the newly appointed staff representative supervisor of the Company, are as follows:

Mr. Shi, aged 46, is currently a member of the disciplinary committee, the deputy secretary, the director of the disciplinary committee and the general office of the commissioner of discipline inspection office of the Company. He previously served as the deputy secretary of the party committee, secretary of the disciplinary committee and chairman of the labor union of GAC Motor (Hangzhou) Co., Ltd., and the assistant to the general manager, director of the party committee office and director of the office of GAC Motor Co. Ltd. Mr. Shi graduated from Huazhong University of Science and Technology with a bachelor's degree in engineering, majoring in industrial management and specialising in engineering in the Department of Business Administration in July 1996, and obtained a master's degree in business administration from Sun Yat-Sen University in July 2002.

The term of office of Mr. He commences from 21 September 2020 and ends on the expiration of the term of the fifth session of the Supervisory Committee. Mr. Shi will not receive any remuneration from the Company in respect of his role as the staff representative supervisor of the Company.

1

As at the date of this announcement, Mr. Shi beneficially owned 160,395 A shares and 409,920 A share options of the Company.

In accordance with the provisions of Article 8 of the "Administrative Measures on Share Option Incentives of Listed Companies" issued by the China Securities Regulatory Commission, the incentive participants shall not include independent directors and supervisors. Mr. Shi can no longer exercise the outstanding A share options granted by the Company from the date of his appointment and the relevant share options will be cancelled by the Company in accordance with the relevant procedures.

Mr. Shi has not held any directorships in other listed companies in Hong Kong or overseas in the past three years or any other positions with the Company and other members of the Group, and saved as disclosed above, he does not have any relationship with any directors, senior management, substantial shareholders or controlling shareholders of the Company.

Save as disclosed above, as at the date of this announcement, Mr. Shi does not have any interests in the shares of the Company (within the meaning of Part XV of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong)).

Save as disclosed above, there is no other information relating to Mr. Shi that needs to be disclosed pursuant to Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and no other matter in relation to his appointment that needs to be brought to the attention of the shareholders of the Company.

The Company hereby expresses its gratitude to Mr. He for his contribution to the work of the Supervisory Committee during his tenure of office and takes this opportunity to extend a warm welcome to Mr. Shi in joining as a new member of the Supervisory Committee.

By order of the Board

Guangzhou Automobile Group Co., Ltd.

ZENG Qinghong

Chairman

Guangzhou, the PRC, 21 September 2020

As at the date of this announcement, the executive directors of the Company are ZENG Qinghong and FENG Xingya, the non-executive directors of the Company are CHEN Xiaomu, CHEN Maoshan, CHEN Jun, DING Hongxiang and HAN Ying, and the independent non-executive directors of the Company are ZHAO Fuquan, XIAO Shengfang, WONG Hakkun and SONG Tiebo.

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This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Guangzhou Automobile Group Co. Ltd. published this content on 21 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 September 2020 11:34:01 UTC


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Sales 2021 67 324 M 10 525 M 10 525 M
Net income 2021 8 425 M 1 317 M 1 317 M
Net cash 2021 13 876 M 2 169 M 2 169 M
P/E ratio 2021 7,29x
Yield 2021 4,33%
Capitalization 105 B 16 448 M 16 447 M
EV / Sales 2021 1,36x
EV / Sales 2022 1,26x
Nbr of Employees 93 745
Free-Float 37,5%
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Technical analysis trends GUANGZHOU AUTOMOBILE GROUP CO., LTD.
Short TermMid-TermLong Term
TrendsBullishBearishNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 27
Average target price 7,26 CNY
Last Close Price 5,80 CNY
Spread / Highest target 64,5%
Spread / Average Target 25,0%
Spread / Lowest Target -1,92%
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NameTitle
Xing Ya Feng General Manager & Executive Director
Dan Wang Chief Financial Officer & Deputy General Manager
Qing Hong Zeng Chairman
Lin Cheong Leung Independent Non-Executive Director
Fu Quan Zhao Independent Non-Executive Director
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