-- Shenghui Cleanness Group (HKG:2521) is in talks to acquire a 70% stake in Huali Digital Technology (Guangdong) from its substantial shareholder, the firm said in a Monday Hong Kong bourse filing.
The cleaning services company's shares gained 1% in late morning trade Tuesday.
The target is mainly engaged in applying new technologies such as IoT, big data, and artificial intelligence to provide one-stop solutions, including the development of software systems and related services.
The stake to be acquired is ultimately owned by Dongguan Huali Industries (SHA:603038), which also owns 19% of Shenghui Cleanness Group.
The firm said it was still in talks for the stake acquisition and will inform markets if a deal is finalized.