Chengdu Dahongli Machinery (SHE:300865) said its subsidiary, Zhend Ding Machinery, will invest 1.0 million yuan in Chengdu Leidianniao Technology, acquiring a 51% stake, according to a Monday filing with the Shenzhen Bourse.
The capital increase aims to support the growing unmanned aerial vehicle (UAV) market. Leidianniao will be integrated into Dahongli's financial statements. The company will closely monitor Leidianniao's performance to mitigate potential risks.
The company's stocks were up by 1% in recent trading.
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.