GRESGYING plans to jointly invest with Xi'an Economic and Technological Development Group to establish a joint venture company
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GRESGYING announced the establishment of a joint venture company with Xi'an Economic and Technological Development Group, with a registered capital of 250 million yuan. GRESGYING will hold 20% of the shares with an investment of 50 million yuan, while Xi'an Economic and Technological Development Group will hold 80% with an investment of 200 million yuan. The joint venture company will be responsible for the construction and operation of the R&D and manufacturing base project in Xi'an, and specific asset transfer terms will be agreed upon in a separate agreement. Upon project completion, GRESGYING will repurchase according to the agreement
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