Guangdong Guanghua Sci-Tech (002741.SZ) announced on July 16 that the company plans to jointly establish a joint venture company, Guangdong Guangmai Technology Co., Ltd. and GMTECH CO., LTD. (hereinafter referred to as the "Joint Venture Company"), respectively in Guangzhou and South Korea with MK CHEM AND TECH (hereinafter referred to as "MK Company").
Guanghua Sci-Tech and MK Company will fully integrate the resources of both parties in products, technology, and services, seize market opportunities, continuously improve their global market share, and further consolidate the company's industry position.
The registered capital of Guangdong Guangmai Technology Co., Ltd. is 0.7 million U.S. dollars, and both parties contribute in the form of currency. Guangdong Guanghua Sci-Tech contributes 0.357 million U.S. dollars, accounting for 51% of the total registered capital; MK CHEM AND TECH contributes 0.343 million U.S. dollars, accounting for 49% of the total registered capital.
The registered capital of GMTECH CO., LTD. is 0.7 million U.S. dollars, and both parties contribute in the form of currency. MK CHEM AND TECH contributes 0.357 million U.S. dollars, accounting for 51% of the total registered capital; Guangdong Guanghua Sci-Tech contributes 0.343 million U.S. dollars, accounting for 49% of the total registered capital.