XXF Group Shareholders Transfer HK$116 Million Worth of Shares to GF SEC Hong Kong

Stock News08:28

On February 26, shareholders of XXF Group transferred shares valued at HK$116 million into GF SEC Hong Kong, representing 5.72% of the company's holdings. XXF Group had previously announced that its indirect wholly-owned subsidiary signed a memorandum of understanding with Kuangshi Technology. The group intends to acquire a 51% controlling stake in Kuangshi Technology through either a share purchase or a capital increase. Public information indicates that Kuangshi Technology is a millimeter-wave radar solutions provider with full-chain independent R&D capabilities spanning from chips and algorithms to modules, complete devices, and system platforms. Founded in 2007, XXF Group is a well-known comprehensive automotive service provider in China. It successfully listed on the Main Board of the Hong Kong Stock Exchange in 2023, becoming the first Chinese automobile finance leasing company to go public.

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