Triumph New Energy Company (HK:1108) has released an update.
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Triumph New Energy Company is set to acquire a 74.60% stake in Jiangsu Triumph New Material Co., Ltd. through a capital injection of RMB373 million, making Jiangsu Triumph a subsidiary and consolidating its financial results into the company’s accounts. This transaction, classified as a discloseable transaction under the Hong Kong Listing Rules, awaits shareholder approval.
For further insights into HK:1108 stock, check out TipRanks’ Stock Analysis page.