China Agri-Products Exchange Limited
CH AGRI-PROD EX: Establishes Logistics and Wholesale JV Company in Huai’an to Enhance Business Expansion
[For Immediate Release] (3 June 2015 – Hong Kong) China Agri-Products Exchange Limited (“China Agri-Products” or the “Company”, together with its subsidiaries, the “Group”)(stock code: 149.HK) announced today that Huai’an Hong-Jin Agricultural By-products Logistics Company Limited (“Huai’an Hongjin”), a wholly-owned subsidiary of the Company, entered into a JV agreement (“Agreement”) with (including) Huai’an Qingjiang Agricultural Agri-Products Exchange Wholesale Market Company Limited (“Qingjiang Wholesale Market”) to establish a JV company in Huai’an, Jiangsu, China for further business expansion and development. Pursuant to the Agreement, Qingjiang Wholesale Market is principally engaged in the operation and management of agricultural wholesale markets in Huai’an. Huai’an Hongjin will invest RMB7.51 million cash into the JV company and will hold 58.58% equity interests of the JV company. The remaining 41.42% equity interest of an aggregate contribution of RMB5.31 million will be granted to other shareholders. Enjoying a superior geographic position, Huai’an is located in the central Jiangsu Province, near the river and seaside. It is connected with Lianyungang on northeast, Yancheng on southeast, Yangzhou on south, as well as Nanjing, the provincial capital, and Chuzhou in Anhui Province on southwest. In addition, it is situated in the core district of Northern Jiangsu Province, an important transportation junction of the region. The formation of the JV company will further consolidate the market share of the Group in Eastern China. Mr. Chan Chun Hong, Thomas, the Chairman and Chief Executive Officer of China Agri-Products, said, “We believe the establishment of the JV company will contribute to the expansion of the agricultural wholesale market and the enhancement of the Group’s leading position in China’s agricultural market. Meanwhile, we have started the trading programme of agricultural by-products in the city. Capitalising on our expertise in the area of agricultural wholesale market management, we endeavor to build the most superior agricultural by-product logistics centre in terms of scale, industry level and comprehensiveness, delivering a good return to the shareholders.” – End – China Agri-Products Exchange Limited (HKEx: 0149) Issued by PR ASIA Consultants Limited on behalf of China Agri-Products Exchange Limited. For enquiries, please contact: China Agri-Products Exchange Limited End of Press Release +++++ Document: http://n.equitystory.com/c/fncls.ssp?u=XFUQATYJQS Document title: CH AGRI-PROD EX: Establishes Logistics and Wholesale JV Company in Huai’an to Enhance Business Expansion Key word(s): Miscellaneous 05/06/2015 UTC+8 Dissemination of a Press Release, transmitted by EQS TodayIR – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. Media archive at www.todayir.com |
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