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.
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.