CHINAHONGQIAO (01378.HK) announced that on December 31, it received approval from the China Securities Regulatory Commission, agreeing to the transaction in which its 22.98% subsidiary HONTRON plans to acquire 100% equity of Hongtuo Industrial from the existing nine shareholders (including Weiqiao Aluminum & Electricity) by issuing new shares. On the same day, 100% equity of Hongtuo Industrial has been fully transferred to HONTRON, and the asset transfer for this transaction has been completed
