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FINWIRES

Peking University Units to Acquire Two Companies; Shares Surge 13%

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Two units of Peking University Resources (HKG:0618) agreed to purchase majority equity interest in two companies on Wednesday, according to a same-day Hong Kong bourse filing.

Shares of the company were up nearly 13% in Thursday afternoon trading.

Units Hong Kong Zhonghe Management and Zi Fong Hong Kong will purchase a 51% and 49% respective stake in LN FUTURE BUILDING MATERIALS from Wang Runze and Luo Wei for around $4.2 million.

Hong Kong Zhonghe Management will also acquire 99% interest in CHINA BODA TECHNICAL GROUP from LOYAL GROUP for $2.4 million.

LN FUTURE BUILDING MATERIALS engages mainly in aluminum profile manufacturing enterprise in East Africa, while CHINA BODA TECHNICAL GROUP is engaged in waste battery recycling and processing.

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