China Anchu Energy Storage Group Ltd (HK:2399) has released an update.
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China Anchu Energy Storage Group Ltd has announced a deemed disposal transaction involving a capital contribution of approximately USD 3.84 million by investors into its subsidiary Jiangsu HengAn. This investment will dilute the company’s stake in Jiangsu HengAn to about 97.66%, but it will still retain control as a subsidiary. The transaction, which includes the grant of repurchase rights, is subject to certain reporting requirements under Hong Kong’s listing rules.
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