FINWIRES · TerminalLIVE
FINWIRES

Chery Takes Over Former Nissan Plant in South Africa

By

China's Chery Automobile (HKG:9973) formally opened its Rosslyn manufacturing plant in South Africa after acquiring the facility from Nissan Motor (TYO:7201) earlier this year, according to a press release on Saturday.

The carmaker said it will retain all 692 employees at the plant and expects the facility to support nearly 3,000 jobs across the supply chain.

The factory will undergo a full upgrade before production begins in the middle of 2027, with annual capacity expected to reach 50,000 vehicles per shift.

Chery aims to achieve an initial localization rate of 40% by 2028 and plans to develop the Rosslyn facility into a regional hub for research and development, manufacturing, supply chain operations and skills training, serving southern Africa.

Related Articles

Asia

Greater Bay Area AI Computing Tech Forecasts 240 Million Yuan in H1 Profit

Greater Bay Area AI Computing Tech (HKG:1396) expects a net profit of at least 240 million yuan in the first half of 2026, driven by strong growth in its AI business.The company bagged over 15 billion yuan in new indicative orders for AI computing cloud services in the first half of 2026, according to a Friday Hong Kong bourse filing.As of June 30, the company fulfilled 2 billion yuan of new AI computing cloud service orders.

HKG:1396
Asia

AEON Stores Unit Leases Shop Units in China

AEON Stores (Hong Kong) (HKG:0984) unit AEON (Guangdong) agreed to lease various shops in Yifa Commercial Centre in Guangdong Province, China, according to a Friday Hong Kong bourse filing.The company will lease the premises for 10 years starting Oct. 31 under an agreement with landlord Guangzhou City Yisheng Commercial Investment and property owner Guangzhou City Yingtai Properties.AEON (Guangdong) will use the premises to operate its retail business, the department store operator said.

HKG:0984
Asia

Guotai Haitong Securities Forecasts Up to 304% Surge in Q2 Profit

Guotai Haitong Securities (HKG:2611, SHA:601211) expects attributable profit of between 13.6 billion yuan and 14.1 billion yuan in the second quarter of 2026, up 290% to 304% from 3.5 billion yuan a year prior.For the first half of 2026, it is expected that attributable profit increased by 27% to 30% to between 20 billion yuan and 20.5 billion yuan from 15.7 billion yuan a year prior.The securities and brokerage company attributed the forecast mainly to a higher revenue from the wealth management, investment banking, institution and transaction, investment management, and other business segments.

HKG:2611SHA:601211