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Caixin Global
Caixin Global
Business
Wen Simin and Han Wei

China-Backed Apollo Future Mobility Offloads Holding in Sensitive U.S. Business

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

What’s new: Apollo Future Mobility Group Ltd., a Hong Kong-traded investment company with China backing, 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 HK$106 million ($13.6 million).

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