Renco Holdings Forms Joint Venture for Aerial Vehicles Business

MT Newswires Live

04/25

Renco Holdings Group (HKG:2323) is pursuing diversification into new business sectors despite its trading suspension since Jan. 20.

The company established a joint venture called Chongqing Pengxiang Shuhang Technology to develop, produce, and sell unmanned aerial vehicles, according to its Hong Kong Stock Exchange filing on Thursday.

The trading of the company's shares in the stock exchange will remain suspended pending the release of an announcement that contains Renco's inside information.

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