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HMT to Buy Remaining Stake in AI Subsidiary for 1.50 Billion Yuan

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HMT Xiamen New Technical Materials (SHA:603306) plans to fully acquire its subsidiary, Shenzhen Fuchuang Youyue Technology, for 1.50 billion yuan through share placement and cash, according to a Shanghai bourse filing on Saturday.

The Chinese automobile safety system components manufacturer's shares rose 1% at the close of Monday's trade.

Fuchuang Youyue us an artificial intelligence and computer power manufacturer.

HMT, which currently owns 42.16% of Fuchuang Youyue, will buy the remaining 57.84% equity interest from five investors.

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