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GAC GROUP to Respect, Support GAC Fiat Chrysler on Declared Bankruptcy
The manager of GAC Fiat Chrysler, a joint venture between GAC GROUP (02238.HK)(601238.SH) and global automaker Stellantis, said that the company declared bankruptcy due to a declin...
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GAC GROUP to Respect, Support GAC Fiat Chrysler on Declared Bankruptcy
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The manager of GAC Fiat Chrysler, a joint venture between GAC GROUP (02238.HK)  -0.040 (-1.299%)    Short selling $2.45M; Ratio 14.592%   (601238.SH)  +0.080 (+1.061%)   and global automaker Stellantis, said that the company declared bankruptcy due to a decline in product competitiveness and others, leading to a halt in production and operations.

Given the current debt situation, audit report, asset evaluation report and other documents, GAC Fiat Chrysler is unable to repay its due debts, and its assets are insufficient to cover all liabilities. The company also lacks the conditions for restructuring and reconciliation.

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This announcement is a normal procedural arrangement by the court and bankruptcy administrator in accordance with legal regulations, and the Group will continue to respect and support the work of the court and bankruptcy administrator as always, GAC GROUP said.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-07-16 12:25.) (A Shares quote is delayed for at least 15 mins.)

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