China Yongda Automobiles Services (HKG:3669) completed a HK$60.4 million share subscription on July 24, issuing 73.2 million new shares to Hongxin International Shipping at HK$0.825 per share.
Net proceeds will be used to support the company's initial deployment of embodied intelligence commercial applications, according to a Friday Hong Kong bourse filing.
Shares of the vehicle distributor fell nearly 6% in recent trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.