China Harmony Auto Holding Ltd. Announces Proposed Subscription and Deemed Disposal of Equity Interest in Subsidiary
Reuters
Sep 01
China Harmony Auto Holding Ltd. Announces Proposed Subscription and Deemed Disposal of Equity Interest in Subsidiary
China Harmony Auto Holding Limited has announced a proposed subscription and deemed disposal of equity interest in one of its subsidiaries. The transaction involves the Target Company, a non-wholly owned subsidiary of China Harmony Auto, and EGL. The Target Company, which operates in the overseas sales and after-sales services of NEVs under the BYD brand, is incorporated in the Cayman Islands. This move aligns with China Harmony Auto's strategic focus on luxury and ultra-luxury car sales, including brands like Rolls-Royce and Bentley. The announcement was made by the company's CEO and Executive Director, Liu Fenglei.
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