- GM announces EV development deal with Chinese partner
- Koleos to be first Renault made in China
- Pangda CEO denies being invited by GM to negotiations regarding Saab
- Over 600000 Great Wall Haval H SUVs sold
- Beijing Benz to officially export E-Class
- GM China to complete second phase construction on R&D center in 2012
- Beijing Hyundai president called back to Korea, replaced by VP
- Dongfeng Nissan's new Guangzhou factory begins operation
- In the wake of Saab's bankruptcy, Pangda sees stock price fall
- Pangda Automobile Trade to sell 22 properties
- Dongfeng eyes up bankrupt Saab's remaining assets
- BYD building new crash test center in Shenzhen
- Chery to cooperate with SK Telecom
- Expansion work at Shanghai GM factories going smoothly
In the wake of Saab's bankruptcy, Pangda sees stock price fall
2011-12-27 from: From Gasgoo.com
With Saab having officially declared bankruptcy, once savior Pangda has also bore a significant part of the burden. The company's stock fell 7.44 percent yesterday, finishing at 6.47 yuan ($1.018), the Beijing News reported.
Pangda declared yesterday that it would try to retrieve the 45 million euro advance payment it made to the Swedish manufacturer earlier, but CEO Pang Qinghua said today that he was not entirely optimistic and had no choice but to wait and see how Saab's assets sold.
Due to negative expectations of Pangda and Youngman's buyout of Saab, the former's stock price has fell a total of 24.5 percent since February.