Qilu Expressway (HKG:1576) agreed to form a joint venture company with Shandong Zhengchen Technology, a Thursday Hong Kong bourse filing said.
The company plans to invest in a wind power hybrid tower industrial base project with the fixed station planned to be set up at the Pingyin Smart Transportation Industrial Base of its subsidiary, Qilu Expressway (Shandong) Assembly, in China.
The company will be investing 51 million yuan in the capital of the JV company and will have a 51% shareholding in it. The remaining 49% stake will be held by Shandong Zhengchen Technology.
The shares of the company were up over 1% in recent trade.
Price (HKD): $2.33, Change: $+0.030, Percent Change: +1.30%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.