Zhuzhou CRRC Times Electric’s Strategic Acquisition Move

Zhuzhou CRRC Times Electric Co (HK:3898) has released an update.

Zhuzhou CRRC Times Electric Co has announced the acquisition of a 100% equity interest in CRRC Commercial Vehicle for approximately RMB106.9 million. This strategic move will make CRRC Commercial Vehicle a wholly-owned subsidiary, integrating its financial results into Zhuzhou CRRC Times Electric Co’s financial statements. This transaction is classified as a connected transaction under Hong Kong’s Listing Rules.

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