Catic Shenzhen Holdings, a Hong Kong-listed electronics manufacturer, yesterday said its acquisition of controlling interests in 12 companies from parent AVIC International Holding and related parties was almost complete.
The businesses Catic Shenzhen is acquiring include trading and logistics, overseas engineering and commercial properties.
The acquisition is expected to be completed by the end of next month.
Chairman Wu Guangquan said he expected this year's financial results to outpace last year's.
He said the company would continue to acquire more assets from its parent company, but did not elaborate.
In December, the Shenzhen-based firm said it was buying trading, logistics, manufacturing and real estate assets from its parent and its units for as much as 4.57 billion yuan (HK$5.58 billion).
Following an assessment by the State-owned Assets Supervision and Administration Commission of the State Council, Catic Shenzhen yesterday said the transactions would total 4.16 billion yuan.