China's State Administration for Market Regulation approved Contemporary Amperex Technology (SHE:300750, HKG:3750) or CATL's acquisition of an undisclosed stake in Chongqing Yaoning New Energy Technology, according to a public notice.
Chongqing Yaoning New Energy Technology is backed by Geely Automobile Holdings (HKG:0175).
Shares of the battery maker fell 6% in recent trade on the Hong Kong bourse and 5% in Shenzhen.
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