Streetbeat News

DNFGY

Dongfeng Motor Group Co

http://www.dfmc.com.cn

Industry

Automobile Manufacturing

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Russian partners have collaborated with China's Dongfeng Motor Group (OTC:DNFGY) to continue producing Stellantis' Citroen cars in Russia, despite Stellantis' exit. Automotive Technologies imported 42 car kits from Dongfeng in December to assemble Citroen C5 Aircross models at the Kaluga plant, still majorly owned by Stellantis (NYSE:STLA). This development highlights the challenges global automakers face in Russia due to sanctions and the growing influence of Chinese automakers in the Russian market.

Portfolio Pulse from Benzinga Neuro

February 15, 2024 | 10:24 am

Hong Kong-listed and Chinese companies are increasing stock buybacks and dividend payouts as their domestic markets remain depressed. This trend is expected to continue throughout the year. In 2022, Hong Kong stock buybacks amounted to $13.4 billion. The Hang Seng Index forecasts that the buyback trend will continue to over $90 billion of stock buybacks by year-end. Record dividend payouts by China’s biggest firms, including Bank of China Ltd. and PetroChina Co Ltd., have reached $206 billion so far this year. Among the Hong Kong companies buying back their shares are Yum China, Tencent, HSBC Holdings Plc., Hanison Construction Holdings Ltd., Bank of East Asia Limited, Cosco Shipping Development Co Ltd, Li Ning Co. Ltd. and Dongfeng Motor Co. Ltd.

Portfolio Pulse from Daniel Harrison

September 20, 2023 | 3:45 pm

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