Dynasty Fine Wines Group's Unit to Form Joint Venture for Trading in Sauce-Flavor Baijiu Products

MT Newswires Live12-23 17:44

Dynasty Fine Wines Group's (HKG:0828) subsidiary Sino-French Joint-Venture Dynasty Winery agreed to form a joint venture company with Guizhou Province Maotai Town Guowei Winery Group, a Friday Hong Kong bourse filing said.

Sino-French Joint-Venture Dynasty Winery will contribute 5.1 million yuan, 51% of the total registered capital of the JV of 10 million yuan.

The agreement also requires Sino-French Joint-Venture Dynasty Winery to procure another 39% of the JV company within nine months after its formation.

Sino-French Joint-Venture Dynasty Winery will source its contribution to the formation of the JV company through its internal resources.

The JV company will mainly trade sauce-flavor baijiu products across China.

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