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Sinopec Capital Joins Stake in XCMG Automotive
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Sinopec Capital, a joint venture between Sinopec Group and SINOPEC CORP (00386.HK), has recently taken a stake in XCMG Group (000425.SZ)'s XCMG Automotive, participating in its mixed-ownership reform project. Sinopec Capital said that this investment in XCMG Automotive is expected to further drive collaboration between XCMG Group and Sinopec in areas such as hydrogen energy transportation, lubricants, battery swapping, sales networks, and aftermarket services. This synergy aims to build a closed-loop ecosystem for the new energy industry chain, promoting the development of China's green and low-carbon industries. AAStocks Financial News |
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