Dragon Rise's (HKG:6829) subsidiary Dragon Rise Auto Services, on Nov. 1, agreed to distribute battery electric compact executive sedans and their components in the taxi industry for a certain automotive trader, a Tuesday Hong Kong bourse filing said.
The company also said that Dragon Rise Auto Services had satisfied the requirements of the Customs and Excise Department and was registered as a motor vehicle importer and distributor in Hong Kong on Dec. 17.
Dragon Rise New Energy Holdings, another subsidiary of the company, entered into a memorandum of understanding with a certain mobile energy solutions provider on Dec. 18 and agreed to promote the battery swap ecosystem.
Under the MOU, Dragon Rise New Energy Holdings will cooperate with the other party in the promotion of the battery swapping field and explore future trends in the battery swapping market for possible business cooperation with the other party.
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