Asia
HMT to Buy Remaining Stake in AI Subsidiary for 1.50 Billion Yuan
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.
SHA:603306
