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VOYAH Motors (07489) Successfully Listed On the Hong Kong Stock Exchange
VOYAH Motors (07489) Successfully Listed On the Hong Kong Stock Exchange
On March 19, 2026, Voyah (07489.HK), a high-end new energy passenger vehicle brand under Dongfeng Group (previously listed as 00489.HK), successfully listed on the main board of the Hong Kong Stock Exchange.
The Voyah Motors' stock listing this time adopts an introduction method, with no new shares issued or funds raised. The company employs a combined model of "equity distribution + absorption merger." The Dongfeng Group distributes its holdings of Voyah Motors shares to all shareholders, while Dongfeng Motor's domestic subsidiary serves as the absorbing entity, acquiring all the H-share tradable shares of Dongfeng Group.
Ran Auto's shares opened at HK$7.50 per share today and closed at HK$6.90 per share at noon, with a current total market capitalization of approximately HK$25.392 billion.
The prospectus reveals that after going public, Voyah Motors' shareholder structure includes Dongfeng Motor Corporation holding approximately 69.47% of the shares as the controlling shareholder. Other shareholders comprise the Mixed Ownership Reform Fund, Bank of China Financial Assets Investment, Zhongxin Gao Tou Fund, ICBC Financial Assets Investment, Wuhan Economic Development Fund, Agricultural Bank of China Financial Assets Investment, Oukitel (26.620, 0.65, 2.50%) (300207.SZ), and Hubei High-Quality Fund.
R1: "Taishan" must be translated as Mount Taishan. Lingpai Auto, founded in 2021, is a premium smart new energy vehicle brand under Dongfeng Motor (one of China's largest central state-owned automobile groups). It primarily designs, develops, manufactures, and sells new energy vehicles in China, covering three major segments: sedans, SUVs, and MPVs. The brand positions itself in the high-end segment of the new energy vehicle market, targeting the new era's core demographic with products primarily priced between RMB 200,000 and RMB 500,000. Lingpai Auto has successfully launched five vehicle series: the mid-to-large SUV Lingpai FREE series, the MPV Lingpai Dreamer series, the mid-to-large sedan Lingpai Pursuit series, the mid-sized SUV Lingpai Zhiyin series, and the full-size SUV Lingpai Taishan series.
The sales of Voyah Motors rank among the top in China's high-end new energy vehicle industry. According to data from, Voyah Motors achieved a compound annual growth rate of 103.2% from 2022 to 2024, making it the third-fastest-growing high-end new energy vehicle brand in China. Nearly all of the company's revenue comes from China, with the sales of the Voyah Dreamer contributing the majority of its income.
The Voyah Dreamer is the industry's first high-end new energy MPV. According to data from灼识咨询, the Voyah Dreamer series achieved sales of 47,000 units in 2024, securing the second position in the high-end new energy MPV market. As the first MPV equipped with 800V intelligent super hybrid technology, it also features Huawei's ADS 4 and HarmonyOS 5, combining the luxurious space of an MPV, the off-road capability and safety of an SUV, and the comfort of an executive sedan.
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