GRAPHEX GROUP invested 1.5 million to increase its stake in Chuangchi by 40%

GRAPHEX GROUP (06128.HK) announced the acquisition of 40% equity in Chuangchi from an independent third party for a cash consideration of HKD 1.5 million. Upon completion, the company will hold a total of 58% equity in Chuangchi, which operates a 60,000 square meter production facility in Xuzhou through its 79% subsidiary Hachi, used for the production of short-range electric vehicles, including two-wheelers, three-wheelers, and four-wheelers, with a designed capacity of 100,000 electric vehicles and 50,000 sets of components