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HARMONY AUTO Acquires Assets for $150M, Becoming BYD HK Distributor
HARMONY AUTO (03836.HK)'s subsidiary, Harmony New Energy Auto Service (Hong Kong), acquired assets from an independent third party, JC Motor, including showrooms, service cente...
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HARMONY AUTO Acquires Assets for $150M, Becoming BYD HK Distributor
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HARMONY AUTO (03836.HK)  -0.020 (-3.175%)   's subsidiary, Harmony New Energy Auto Service (Hong Kong), acquired assets from an independent third party, JC Motor, including showrooms, service centers, warehouses, warehouse carparks, as well as test drives and office cars, etc., according to HARMONY AUTO's announcement.

With this acquisition, the Group will become the sole distributor of BYD new energy vehicles in the Hong Kong market. The Group intended to satisfy the cash consideration of $150 million by its internal resources.
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