China Strategic Technology Unit Signs Cooperation Deals, Completes Vessel Trial Voyage; Shares Slip 3%

MT Newswires Live06-22 11:46

China Strategic Technology's (HKG:1725) non-wholly owned subsidiary, CT Vessel, entered into cooperation agreements and memoranda of understanding with multiple partners to support the expansion of its new-energy intelligent vessel business, according to a Sunday filing with the Hong Kong bourse.

The agreements cover technical development, agency and distribution arrangements, the establishment of vessel sales and service centers, and market promotion initiatives.

The partners include companies and organizations from China, Malaysia, Africa, and the U.S.

Separately, CT Vessel completed the official trial voyage of nine new energy intelligent vessels in Nanning, Guangxi.

The fleet includes civilian and commercial vessels, intelligent service vessels, and unmanned surface vessels designed for inland waterways and coastal routes.

Shares of China Strategic Technology were down over 3% in Monday morning trade.

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