Apollo Future Mobility Forms China Joint Venture in Discloseable Deal

Apollo Future Mobility Group Limited ( (HK:0860) ) has provided an update.

Apollo Future Mobility Group, through its wholly owned subsidiary AFM Ningbo, has agreed to form a new joint venture company in China with partners NBXTD and HZFTP, contributing RMB50 million of the RMB100 million registered capital for a 50% stake. AFM Ningbo will control the board by appointing three of five directors, making the joint venture a consolidated subsidiary financed from the group’s internal resources.

The transaction qualifies as a discloseable transaction under Hong Kong listing rules, as the relevant percentage ratios exceed 5% but remain below 25%, triggering reporting and announcement obligations without requiring a shareholder circular or approval. The structure strengthens Apollo Future Mobility Group’s operational footprint in China while maintaining balance-sheet flexibility, and clarifies that the new entity’s financial performance will be fully reflected in the group’s consolidated accounts.

The most recent analyst rating on (HK:0860) stock is a Hold with a HK$0.64 price target. To see the full list of analyst forecasts on Apollo Future Mobility Group Limited stock, see the HK:0860 Stock Forecast page.

More about Apollo Future Mobility Group Limited

Apollo Future Mobility Group Limited is an investment holding company listed in Hong Kong that operates through subsidiaries in the mobility and automotive technology sector. Its businesses include advanced vehicle and related technology development, with operations structured through units such as AFM Ningbo in mainland China.

Average Trading Volume: 268,638

Technical Sentiment Signal: Sell

Current Market Cap: HK$644.1M

For a thorough assessment of 0860 stock, go to TipRanks’ Stock Analysis page.