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FINWIRES

GCL New Energy to Form JV With AntChain

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GCL New Energy (HKG:0451) plans to form a joint venture with AntChain to provide intelligent asset management and operational services outside of mainland China, according to a Thursday filing with the Hong Kong bourse.

The renewable energy company's shares gained nearly 12% in morning trade Friday.

The firm will contribute 8 million yuan to the venture for a 40% equity interest, with a further 10 million yuan coming from AntChain for the remaining 60%.

The joint venture is subject to definitive agreements.

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