Geelong Hui, November 5th, Xing Tong shares (603209.SH) announced that in order to continuously promote the company's '1+2+1' global strategy development plan, constantly expand the scale of the company's international liquid hazardous cargo fleet, enhance market competitiveness and influence, the company signed a joint venture contract with Xiamen C&D Inc., a wholly-owned subsidiary of Xiamen C&D Inc., focusing on building the supply chain logistics technology in cash to establish a joint venture company, fully seize the domestic refinery and chemicals export opportunities, international liquid hazardous cargo market supply opportunities, domestic shipbuilding industry advantages, and the transformation opportunity of green and low-carbon smart ships under the global decarbonization background, to cooperate on the construction, purchase of liquid hazardous cargo ships for international transportation operations.
The joint venture company has a registered capital of RMB 256 million. Among them, the company will contribute RMB 130.56 million in cash, holding 51% equity of the joint venture company, with funds from the company's own funds or self-raised funds; Xiamen C&D Inc. will contribute RMB 125.44 million in cash, holding 49% equity of the joint venture company. After the establishment of the joint venture company, it will be included in the company's consolidated financial statements.