Miracle Automation Engineering to Invest in Battery Waste Recycling-Focused Partnership Fund

MT Newswires Live

Nov 28, 2024

Miracle Automation Engineering (SHE:002009) agreed to be an investor in a partnership fund worth 21 million yuan, according to a Shenzhen Stock Exchange dislcousre on Wednesday.

The six-year partnership fund, Jilin Province Green Power Automobile Industry Special Private Equity Investment Fund Partnership, will invest in Fuao Smart Energy Technology, a company that recycles used batteries for new energy vehicles.

The Chinese automated equipment manufacturer, through its subsidiary, Changtian Tianqi Automotive Intelligent Process Equipment Engineering, will invest 5 million yuan, accounting for about 24% of the fund's capital.

Miracle Automation's shares slipped more than 1% in recent trade.

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