The eleventh meeting of the second board of directors of Henan Diamond was held recently, during which the "Proposal on Investing in the Establishment of a Holding Subsidiary" was reviewed and approved. The company plans to establish 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. This strategic move aims to strengthen its position in the advanced materials industry and expand its market presence.
The new joint venture has a registered capital of 50 million yuan. Henan Diamond will contribute 33 million yuan from its own funds, with 25.5 million yuan allocated as registered capital, representing 51% ownership in the joint venture. The remaining 7.5 million yuan will be recorded as capital reserves. On the other hand, Jiaozuo Meijing Technology will contribute assets valued at 24.5 million yuan, including fixed assets, inventories, and intangible assets, which account for 49% of the total registered capital.
Both parties engaged independent evaluation agencies to assess the value of the contributions. The due diligence process was carefully conducted to ensure transparency and compliance with regulatory standards. Following the approval from the Jiaozuo City Administration for Industry and Commerce, the joint venture has successfully obtained the Business License for Enterprise Legal Person, marking an important milestone in the formation of this strategic partnership.
This collaboration is expected to bring together Henan Diamond's technological expertise and Meijing Technology's operational strengths, creating a solid foundation for future growth and innovation in the synthetic diamond sector.
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