Zhongtian Construction (Hunan) Group Sets Up Subsidiaries, Associate

MT Newswires Live10-24

Zhongtian Construction (Hunan) Group (HKG:2433) said it set up a couple of subsidiaries and an associate company to expand its business scope and generate growth in its profit, a Thursday Hong Kong bourse filing said.

Hunan Bungee Industry Investment was set up with a registered capital of 12 million yuan. The group holds 100% of its equity interest and it will mainly be engaged in equity investment, technological R&D, and sales of construction materials, coal and coal products.

Hunan Bungee Technology was set up with a registered capital of 2 million yuan. The group holds 66.5% of its equity interest and it will do pretty much the same things as Hunan Bungee Industry Investment with the addition of providing supply chain management services.

Guizhou Bungee E-commerce Technology was set up with a registered capital of 50 million yuan and the group holds 40% of its equity interest. It will mainly be engaged in ore dressing and processing, coal dressing, sale of coal, coal products, and agricultural byproducts, along with internet and information services and Big data services.

Price (HKD): $0.15, Change: $-0.0010, Percent Change: -0.67%

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