Zhengzhou Coal Mining Machinery Group Co., Ltd. Class H (HK:0564) has released an update.
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Zhengzhou Coal Mining Machinery Group is set to become the full owner of ASIMCO Nanjing by acquiring the remaining 16.6081% equity, boosting its stake from 83.3919% to 100%. This strategic move aims to enhance efficiency, profitability, and competitiveness, aligning with recent regulatory shifts in the capital market. The acquisition, valued at approximately RMB 698.99 million, will be completed through cash payment.
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