The eleventh meeting of the second board of directors of Henan Diamond was held recently, during which the company reviewed and approved the "Proposal on Investing in the Establishment of a Holding Subsidiary." This proposal outlines the company's plan to form a joint venture with Jiaozuo Meijing Technology Co., Ltd. to focus on the research, development, production, and sales of synthetic diamond large single crystals and related products.
The new joint venture will have a registered capital of 50 million yuan. Henan Diamond will contribute 33 million yuan of its own funds, with 25.5 million yuan allocated as registered capital, representing a 51% stake in the joint venture. The remaining 7.5 million yuan will be classified as capital reserves. Meanwhile, Jiaozuo Meijing Technology will contribute assets valued at 24.5 million yuan through an independent evaluation process, securing a 49% equity share.
Both parties engaged independent third-party evaluation agencies to assess the value of the contributed assets. For Henan Diamond, the evaluation confirmed that its investment of 33 million yuan would result in a 51% ownership stake. Meijing Technology's contribution included fixed assets, inventories, and intangible assets, which were independently appraised and valued at 24.5 million yuan.
The joint venture has now received approval from the Jiaozuo City Administration for Industry and Commerce. The company has successfully obtained the Business License for Enterprise Legal Person issued by the local Administration for Industry and Commerce, marking a significant milestone in the formation of this strategic partnership. This collaboration is expected to enhance the company's competitive edge in the synthetic diamond industry and drive long-term growth.
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