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Shimao services (00873.HK) subsidiary collaborates with partners to enter the electric vehicle charging station market, establishing a joint venture company.
On October 31,格隆汇announced that Shimao Services (00873.HK) mediated a fully-owned subsidiary Chengdu Shimao Tiancheng and its partner (Hainan Zaiyou Chongxin New Energy Technology Co., Ltd.) signed an investment agreement on October 31, 2024, whereby the contracting parties agreed to establish a joint venture company to construct and operate electric vehicle charging stations in China. According to the terms of the investment agreement, the registered capital of the joint venture company is RMB 0.4 billion. Chengdu Shimao Tiancheng will contribute RMB 0.196 billion, and the partner will contribute the remaining RMB 0.204 billion as the registered capital of the joint venture company. The joint venture company is established.
Express News | Shimao Services - Jv for Construction, Others of Electric Vehicles Charging Stations and Related Businesses for Evs in PRC
Express News | Shimao Services - Chengdu Shimao Tiancheng Will Contribute RMB196 Mln
Express News | Shimao Services - Formation of Joint Venture Company
Hong Kong stock concept tracking | Peking, Shenzhen real estate market volume hits new high, real estate sector policy effects may gradually emerge (with concept stocks)
Data from the China Real Estate Research Institute shows that as of the 26th of October, the number of second-hand residential housing transactions in Beijing has reached 12,979 units. It is expected that the total number of transactions in October will exceed 0.016 million units, reaching a new high in 19 months; the actual transaction volume is expected to reach 0.025 million units, the highest in the same period in 8 years.
Hong Kong stock market anomaly | Shimao Services (00873) surged by over 31%, property management risks gradually cleared, the company's service territory continues to expand.
Shimao Services (00873) surged over 31%, as of the deadline for submission, up 31.07% to HK$1.35, with a turnover of HK$13.8572 million.
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