China Risun Group's (HKG:1907) subsidiary Risun Group signed a non-binding agreement to sell its entire stake in Dingzhou Risun Hydrogen Energy, according to a Thursday filing with the Hong Kong bourse.
The deal with Beijing SinoHytec was signed on Wednesday, Feb. 26, and will result in Risun Group exchanging its entire equity in Dingzhou Risun Hydrogen Energy for SinoHytec's A shares.
The agreement is still under consideration, with no binding commitments.
The company's stocks were up by 1% at the close of trading.
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