Shares of Chinese state-owned Dongfeng Motor Group soared as much as 69% in Hong Kong on Monday after its parent, Dongfeng Motor Corp., said it will take the automaker private and separately float its luxury electric-vehicle arm, Voyah. The parent plans to buy the shares it does not already own at HK$6.68 apiece, valuing the deal at roughly HK$55.13 billion (US$7.06 billion) and giving investors an 11.9% premium to the stock’s last close before a two-week trading halt. Following the buyout, Dongfeng Motor Group will delist, while Voyah will seek a Hong Kong listing via introduction, effectively switching the group’s public equity focus to new-energy vehicles. Monday’s rally lifted Dongfeng Motor to its highest level since 2017 and made it the biggest gainer on the Hang Seng Automotive Index, which added 1.7%. The restructuring aligns with Beijing’s push for consolidation among state automakers and comes amid a fierce price war that is eroding industry margins. Dongfeng reported first-half 2025 revenue of 54.53 billion yuan (US$7.5 billion), up 6.6% year on year, even as total deliveries fell 15% to 823,900 vehicles. Sales of pure electric and plug-in hybrid models rose 33% to 204,400 units, with Voyah volumes jumping nearly 85%, underscoring management’s decision to center future growth on the EV segment.