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China City Infrastructure Group has reported that one of its subsidiaries has acquired a controlling stake in Shenzhen Shi Zhilian Fei Chuang Technology for HKD 3.3 million. The transaction gives the group a 60 per cent ownership in the Shenzhen-based technology company. The move reflects the company's continued focus on selective investments outside its core infrastructure-linked activities. China City Infrastructure, which has interests spanning property-related assets and diversified investments, has in recent years pursued smaller acquisitions to broaden its portfolio and explore growth opportunities in technology and services.
China City Infrastructure Group informed the stock exchange during the past week that a wholly owned unit has completed the acquisition of a 60 per cent stake in Shenzhen Shi Zhilian Fei Chuang Technology. The consideration for the transaction stands at HKD 3.3 million, according to the company's disclosure. Advertisement
With this acquisition, the group gains a controlling interest in the Shenzhen-based firm, allowing it to participate directly in the company's operations and strategic decisions. Shenzhen Shi Zhilian Fei Chuang Technology is understood to be engaged in technology-related activities, though the listed entity has not provided detailed financials or operational metrics of the target in its brief announcement.
China City Infrastructure has earlier operated across infrastructure-linked businesses, property development, and investment holdings. In recent years, the group has gradually expanded into non-core areas through modest-sized acquisitions, a strategy aimed at diversifying income streams and reducing reliance on a single segment.
The company has previously indicated that such investments are evaluated based on potential long-term returns and alignment with its broader business objectives. The latest transaction follows this pattern, with the acquisition value remaining relatively small compared to large-scale infrastructure or real estate deals.
No further details were disclosed regarding funding structure, future capital commitments, or management changes at the acquired entity. The group also did not indicate whether the remaining 40 per cent stake would be acquired at a later stage.
Source Reuters
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