China-backed Apollo Future Mobility exits sensitive U.S. business

Hong Kong firm cites concerns over U.S. scrutiny in selling shares of 3D printing company

20240809 Caixin Apollo

Apollo Future Mobility counts high-profile businesspeople from the Chinese mainland, Hong Kong and Macao as major backers.

WEN SIMIN and HAN WEI, Caixin

Apollo Future Mobility Group, a Hong Kong-traded investment company with Chinese backing, has announced the sale of its holding in an American 3D printing company, citing concerns over U.S. national security scrutiny.

The company said it will sell its entire 12.87% stake in Divergent Technologies in a deal expected to cost it a record loss of 106 million Hong Kong dollars ($13.6 million).

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