New Focus Auto Tech Sells 10% Subsidiary Stake to Zhongrong Juxin for RMB100 Million
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New Focus Auto Tech Holdings Ltd. has sold a 10% stake in its Shanghai-based subsidiary to Zhongrong Juxin for RMB100 million. The agreement includes provisions for a new entity to assume rights and obligations if production capacity is lost due to government relocation. Zhongrong Juxin will also enter a concert party agreement with the controlling shareholder for joint decision-making. This announcement was published via the Hong Kong Stock Exchange.
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