合併傳聞導致東風 一汽股票停牌

Shares in the listed arms of two of China’s “big four” automotive manufacturers were suspended yesterday amid reports of a possible merger to create a new top 10 global carmaker.

中國“四大”汽車製造商中兩家的上市子公司股票昨日停牌，有報道稱，它們可能合併，締造一家新的全球十大汽車製造商。

Dongfeng and FAW halted trading in their listed subsidiaries after media reports said a change of the chairmen at the state-owned enterprises might preface a combination of the companies.

東風(Dongfeng)和一汽(FAW)申請暫停其上市子公司股票的交易，此前有媒體報道稱，這兩家國企的董事長換人可能是它們合併的前奏。

The ruling Communist party is keen to shake-up its state-owned enterprises and make them more competitive on the global stage, partly through a wave of mergers and spin-offs.

執政的共產黨熱衷於對國企高層進行洗牌，並且（在一定程度上）通過一波合併和分拆，使這些企業在全球舞臺上更具競爭力。

According to Chinese media, Xu Ping, chairman of Dongfeng, is expected to take up the same role at FAW. In March, the Communist party’s anti-graft bureau said it had detained Xu Jianyi, FAW chairman, for “serious violations of discipline” — official shorthand for suspected corruption.

據中國媒體報道，預計東風董事長徐平將出任一汽董事長。今年3月，中紀委宣佈一汽董事長徐建一“涉嫌嚴重違紀違法”——這是官方對涉嫌腐敗的委婉說法。

Meanwhile, Zhu Yanfeng, deputy party secretary of Jilin province and a former FAW head, is reportedly set to become chairman of Dongfeng.

與此同時，吉林省委副書記、一汽前任董事長竺延風據報道將出任東風董事長。

Mr Zhu is regarded as the dealmaker of China’s auto industry, according to analysts at UBS. As FAW chairman, he oversaw the acquisitions of Haima Auto in 1998 and Tianjin Auto in 2002.

據瑞銀(UBS)分析師介紹，竺延風被視爲中國汽車業的交易撮合者。在擔任一汽董事長期間，他曾領導該集團在1998年兼併海南汽車製造廠，2002年收購天津汽車。

Dongfeng Motor Group, a Hong Kong-listed subsidiary, said in a stock exchange filing that it had taken the merger rumours “seriously” but neither it nor the parent group had received any information, written or verbal, from any government authorities.

在香港上市的子公司東風汽車集團(Dongfeng Motor Group)在一份證交所申報文件中表示，它認真對待合併傳言，但該公司及其母公司均未從任何政府部門接到任何書面或口頭信息。

FAW, also known as First Automotive Works, could not be reached for comment. Dongfeng’s Hong Kong-listed shares resumed trading later yesterday, ending the day down 2.8 per cent at HK$12.70. Shares in its Shanghai-listed subsidiary, along with stock in FAW’s Shenzhen-traded units, remained suspended.

記者聯繫不上一汽請其置評。昨日晚些時候，東風在香港上市的股票覆盤，當日收盤下跌2.8%，至12.70港元。在上海上市的子公司股票，連同一汽在深圳上市的子公司股票，繼續停牌。

FAW and Dongfeng, formerly known as Second Automobile Works, form part of a sprawling web of joint ventures with international carmakers operating in the world’s biggest auto market.

一汽和前身爲第二汽車製造廠的東風，在中國這個全球最大汽車市場，與國際汽車製造商構建了一張龐大的合資企業網絡。