New Concepts Holdings Acquires 30% in Energy Firm

New Concepts Holdings Ltd (HK:2221) has released an update.

New Concepts Holdings Limited has announced the acquisition of a 30% equity stake in Zaozhuang High Energy New Materials Co., Ltd. for RMB1.0 million, payable within 180 days post-completion of business registration. The deal, funded by internal resources, will see the Purchaser take on the Vendor’s commitment to further invest in the Target Company through cash and technology management, without integrating the new associate into the Group’s consolidated financial statements.

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