Avary Holding (Shenzhen) (SHE:002938), through subsidiary Qingding Precision Electronics (Huai'an), will establish a 340 million yuan joint venture with affiliated company Huaian Jiawei Industrial Development
The venture's main business will be the development and construction of employee dormitories in the company's Huai'an Park.
Qingding Precision will account for 53% of the venture after injecting 180 million yuan into its capital, while Jiawei Industrial Development will own 47% after investing 160 million yuan into the venture, the Chinese printed circuit board manufacturer said.
Avary Holding shares closed nearly 5% higher on Monday.
Price (RMB): ¥33.75, Change: ¥+1.5, Percent Change: +4.52%
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