On September 13, Geelonghui reported that Zhitexincai (300986.SZ) announced that, based on long-term development strategy considerations, in order to give full play to MABANI's competitive advantages in the construction formwork and its industry chain, and explore markets in Saudi Arabia and other "One Belt, One Road" related regions, the two parties have signed a "Strategic Cooperation Agreement" based on the principles of resource sharing, complementary advantages, and win-win cooperation.
MABANI is a subsidiary of Mabani Aljazeera Holding Group (hereinafter referred to as "MABANI Group"). With the diversified experience of MABANI Group for 25 years, MABANI has become a well-known construction company in Saudi Arabia, with rich experience in managing large-scale construction projects. Its main business scope includes design and construction of infrastructure, real estate, national public places, and high-end residences, among others.
Based on mutual benefit and on the basis of integrating the advantages of both parties, the company and MABANI have formed a long-term strategic alliance to achieve good social benefits and investment returns. As a well-known construction company in Saudi Arabia, MABANI has rich overseas market resources. The company will leverage MABANI's resources and the national "One Belt, One Road" policy to further expand in Saudi Arabia and surrounding markets, enhance the company's brand influence in Saudi Arabia, and lay a solid foundation for long-term development and expansion in Arab countries market in the future.
