A significant restructuring has recently taken place in the automotive division of China South Industries Group Corporation (CSGC). Changan Automobile announced that its controlling shareholder, formerly known as China Changan Automobile Group Co., Ltd., has officially completed its industrial and commercial registration change, and is now renamed to ChenZhi Automotive Technology Group Co., Ltd.
It is important to note that this name change only affects the shareholder entity’s name—Changan Auto’s ownership structure remains unchanged.
Changan Auto clarified that the registration change does not involve any adjustments to shareholding ratios or quantities, and will not affect the company’s governance or business operations, nor will it result in any changes to the actual controller or the controlling shareholder.
According to the official filing, ChenZhi Automotive Technology Group has a registered capital of ¥60.9227 billion (≈$8.49 billion). Its business scope includes the design, development, manufacturing, and sales of automobiles, motorcycles, vehicle and motorcycle engines, as well as parts and components. Post-renaming, ChenZhi Automotive retains a 40.65% stake in Changan Auto, and the group’s legal representative remains Zhao Fei, President of Changan Auto.
This reorganization stems from a State Council-approved restructuring plan for the parent company, CSGC. On June 5, Changan Auto issued an announcement stating that it had received notice from its indirect controlling shareholder, CSGC, confirming that the State Council had approved the group’s split-up plan. Following this split, the automotive division will become an independent central state-owned enterprise (SOE), with the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) acting as the investor. Meanwhile, the remaining part of CSGC will have its equity injected into China North Industries Group Corporation (Norinco Group). (Click to know more details)
On the same day, Dongfeng Automobile also issued an announcement, stating that it had received notification from its indirect controlling shareholder, Dongfeng Motor Corporation, clarifying that Dongfeng Motor Corporation is not currently involved in any asset or business restructuring. Its business operations remain unaffected.
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