China Harmony Auto's (HKG:3836) subsidiary Harmony New Energy Auto Service (Hong Kong) agreed to purchase certain assets from JC Motor for HK$150 million, a Monday Hong Kong bourse filing said.
The assets include showrooms, service centers, warehouses, and fixed assets like decorations, equipment and facilities, tools and office furniture, test drives and office cars, vehicles in stock, and spare parts in stock among others.
The group intends to fund the acquisition through its internal resources and upon completion, will become the sole distributor of BYD (HKG:1211, HKG:81211) new energy vehicles in the Hong Kong market.
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.
Comments