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Changyao New Materials Invests RMB 70.5 Million to Establish Two Controlled Subsidiaries, Seizing Opportunities in Urban Underground Utility Tunnel Construction

2016-11-04 821 0人评论

Changyao New Materials issued two investment announcements on November 3. The company plans to jointly invest with Yangtze Three Gorges Hydropower Engineering Co., Ltd., Wu Wei, and Wang Haobo to establish a controlled subsidiary, Three Gorges Changyao Smart Utility Tunnel Investment and Construction Co., Ltd., with a registered capital of RMB 100 million. Changyao New Materials will contribute RMB 45 million, accounting for 45%.
　　In addition, Changyao New Materials plans to jointly invest with Xiaogan Guangyuan Electric Power Group Co., Ltd. to establish a controlled subsidiary, Hubei Changyao Guangyuan Smart Utility Tunnel Investment and Construction Co., Ltd., with a registered capital of RMB 50 million, of which Changyao New Materials will contribute RMB 25.5 million, accounting for 51%.
　　It is understood that the main businesses of Changyao Smart and Changyao Guangyuan both include the research and development, production, sales, and service of urban integrated utility tunnel series products.
　　Changyao New Materials stated that this outbound investment is necessary for the company to seize the opportunity of the national promotion of urban underground integrated utility tunnel construction and achieve leapfrog development. The implementation of this project will help the company further open up markets outside the province and enhance its competitiveness.

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Changyao New Materials Invests RMB 70.5 Million to Establish Two Controlled Subsidiaries, Seizing Opportunities in Urban Underground Utility Tunnel Construction

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Changyao New Materials Invests RMB 70.5 Million to Establish Two Controlled Subsidiaries, Seizing Opportunities in Urban Underground Utility Tunnel Construction

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