Changan Automobile hits near 16-mth peak on Huawei smart car tie-up

Seres Therapeutics

27/11/2023 02:57

** Shares of Chongqing Changan Automobile  000625.SZ  jump
10% to 19.56 yuan, highest since Aug 3, 2022, extending gain for
the third session 
    ** Huawei  HWT.UL  said on Sunday it will move core 
technologies and resources in its smart car unit to a new joint
company, owned up to 40% by automaker Changan Automobile, for
the development of intelligent automotive systems and component
solutions
    ** Huawei has repeatedly said it does not make cars on its
own but only helps other automakers make better vehicles
    ** Huawei also has an existing partnership with other
Chinese automakers including Seres Group  601127.SS  and Chery 
    ** Seres stock falls 6.1% 
    ** The blue-chip CSI 300 Index  .CSI300  falls 1.1%, the
Shanghai Composite Index  .SSEC  slips 0.7%
    ** Changan Automobile shares up 58.9% YTD 

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))