Touyun Tech Sells 70% Stake in QR Code Firm

MT Newswires Live

05-07

China Touyun Tech Group (HKG:1332) unit Apex Capital Business agreed to sell a 70% equity stake in Fortune Road International to Renaissance International China for 13 million yuan, a Tuesday Hong Kong bourse filing said.

The buyer currently owns the remaining 30% of the target company, which engages mainly in the provision of QR codes on product packaging and solutions and advertising display services.

The packaging product manufacturer will use proceeds from the disposal as working capital.

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