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Dragon Rise Exploring Partnership to Promote Battery Swapping

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Dragon Rise (HKG:6829) is exploring a partnership with a mainland automotive trader to establish and promote a battery-swapping ecosystem for electric commercial vehicles, according to a Thursday filing with the Hong Kong bourse.

The engineering services firm's shares fell nearly 4% in morning trade Friday.

The firm entered into a non-legally binding memorandum of understanding with the automotive trader, whose parent is one of the largest truck manufacturers in China.

The potential partnership could help the firm capture Hong Kong's green transport market.

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