Volcano Spring International (HKG:1715) and YouGu Health Technology agreed to establish a joint venture to explore the field of healthcare, a Thursday Hong Kong bourse filing said.
The joint venture, with the proposed name of Guangzhou Junze Huike Pharmaceutical Technology, will have a registered capital of 1 million yuan.
Volcano Spring will hold 51% of the joint venture with a contribution of 510,000 yuan, while YouGu Health will own the remaining 49% through a contribution of 490,000 yuan.
The JV will mainly engage in research and development of bio-based material technologies, medical research and experimental development, software development and application services, enterprise management, and smart home devices retail among others.
The group will be funding the investment through its internal resources.
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