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Silver Tide Holdings Limited ( (HK:1943) ) has provided an announcement.
King’s Stone Holdings Group Limited is broadening its footprint in China’s technology and new energy sectors through a Shenzhen-based subsidiary platform. The new joint venture will focus on technical services, technology development and consulting, sales of electronic products and components, Internet of Things technologies, and businesses linked to the new energy industry chain.
The company’s wholly owned unit Huayuan Hongda has signed a joint venture agreement with an independent investor, Ms. Wang, to set up a Shenzhen limited liability company with registered capital of RMB10 million. Huayuan Hongda will hold 80% and control the venture, which will consolidate into King’s Stone’s accounts and is intended to spearhead limited partnerships and investments across the energy storage industry chain, creating an industrial synergy ecosystem; the deal meets Hong Kong listing rules for a discloseable transaction but does not require shareholder approval.
More about Silver Tide Holdings Limited
King’s Stone Holdings Group Limited, incorporated in the Cayman Islands and listed in Hong Kong, operates through subsidiaries including Huayuan Hongda. The group is expanding into technology-related and energy storage value-chain activities in mainland China via newly established investment and service platforms.
Average Trading Volume: 3,004,179
Technical Sentiment Signal: Buy
Current Market Cap: HK$648.9M
Learn more about 1943 stock on TipRanks’ Stock Analysis page.