Hengxin Technology Ltd. (HK:1085) has released an update.
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Hengxin Technology Ltd., in a post-trading hours announcement, has revealed its plan to acquire the remaining 49% stakes of Nanjing Zhangyu and Shanghai Zhangyu for RMB 522 million, thus taking full ownership. This acquisition is classified as both a very substantial acquisition and a connected transaction, necessitating shareholder approval. An Extraordinary General Meeting (EGM) will be convened for independent shareholders to review and vote on the transaction.
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