On June 25th, Gelunhui released news that in order to show their cooperation intentions, Ruiqiang Group (08427.HK) and Wanshuntong Technology Industry (Shenzhen) Group Co., Ltd. (Wanshuntong Technology) signed a non-legally binding Memorandum of Understanding on possible cooperation. According to this, the company intends to cooperate with Shenzhen Wanshunfu Smart Living Service Co., Ltd. and Wanshun New Energy Automotive Technology (Wuhan) Co., Ltd., affiliated companies of Wanshuntong Technology, involving potential business cooperation in Malaysia for the introduction and development of Shenzhen Wanshunfu and Wanshun New Energy.
Wanshuntong Technology is a company headquartered in Shenzhen, Guangdong province, China, mainly engaged in providing technology solutions for the transportation industry. Currently, it has two affiliated companies: Shenzhen Wanshunfu and Wanshun New Energy, which are mainly engaged in businesses related to automobile sales in China.
The board of directors believes that the possible cooperation (if implemented) will allow the group to expand its business scope and broaden its sources of income, thus benefiting the overall interests of the company and its shareholders.
