Chongqing Machinery Boosts Stake in Target Company

Chongqing Machinery & Electric Co. Ltd. Class H (HK:2722) has released an update.

Chongqing Machinery & Electric Co., Ltd. has announced a connected transaction involving its subsidiary, CQGI Group, acquiring a 33.33% equity interest in the Target Company from the Asset Company for approximately RMB9,955,600. This acquisition will increase CQGI Group’s stake in the Target Company from 40% to 73.33%, and it is subject to certain reporting and review requirements under the Listing Rules.

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