Shanghai Guao Electronic Technology Co., Ltd. announced the completion of the sale of a 23.16% stake in New Storage Technology (Wuhan) Co., Ltd. for approximately 419.57 million yuan. The controlling subsidiary, Haoyuan Gu, received a deposit of 70 million yuan and the full payment has been made. As of the announcement date, Haoyuan Gu holds a reduced stake of 1.63% in New Storage Technology.
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Shanghai Guao Electronic Technology Co., Ltd. Progress Announcement on the Sale of Equity in an Associated Company by a Controlling Subsidiary
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