Jiangxi Hungpai New Material (605366.SH) announced that the company held the third board of directors meeting on October 10, 2024...
According to the Zhitong Finance APP, Jiangxi Hungpai New Material (605366.SH) announced that the company held the twelfth meeting of the third board of directors on October 10, 2024, and approved the "Proposal for Establishing a Joint Venture Company in Thailand", agreeing that the company, as the contributing party, intends to establish a joint venture company in Thailand with Thai investors Polapat and Vararat. The company will invest 0.294 million US dollars from its own funds, holding a 49% share in the joint venture company; Thai investor Polapat will invest 0.3 million US dollars, holding a 50% share in the joint venture company; and Thai investor Vararat will invest 6000 US dollars, holding a 1% share in the joint venture company.
The establishment of a joint venture company in Thailand this time aligns with the company's global strategy and operational needs, is conducive to further expanding the company's market in Southeast Asia, perfecting the overseas functional silane industry supply system, deepening the international market layout, thereby enhancing the market competitiveness and sustainable development capability of the company's products.
