Chinese battery maker BYD announced that it was acquiring a 77 per cent stake in motor manufacturer Xian Zhen Chuan Automobile for Yn270m. The two state-owned companies that were the original owners will continue to hold the remaining 23 per cent. Xian Zhen Chuan makes cars under the Flyer brand. Last year, it posted a net profit of Yn726,000 on turnover of Yn622m.
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