Hongchang Electrical Technology to Offload NEV Parts Developing Subsidiary for 21 Million Yuan; Shares Up 5%

MT Newswires Live

2025/02/19

Zhejiang Hongchang Electrical Technology (SHE:301008) agreed to sell 66% of new energy vehicle parts developing subsidiary Suzhou Nascondi Auto Parts for 20.5 million yuan, accorindg to a

The stake will be sold to individual investor Zhang Chunhua.

After the transaction is completed, the Chinese electrical components manufacturer will no longer hold Nascondi Auto Parts.

The company's shares jumped less than 5% in recent trade.

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