Exploring More PPP Projects to Diversify Its Business

 

HONG KONG, CHINA, RIAUONE.COM, - 14 Nov 2018 - Jujiang Construction Group Co., Ltd. ("Jujiang Construction", together with its subsidiaries, the "Group"; stock code: 1459) is pleased to announce that, on 13 November 2018, the Company as purchaser and a third party as vendor entered into the Share Transfer Agreement, pursuant to which the Company agreed to acquire 80% of the Equity Interest in the Target Company from the Vendor at a cash consideration of RMB48,000,000.

 

The Target Company is a company established under the laws of the PRC and is principally engaged in the investment, development, construction and management of Tongxiang City Youth Quality Education Practice Base. The Target Company is a limited liability company with a registered capital of RMB 60,000,000 and has paid in full. In view of the Target Companies winning a Tongxiang City Youth Quality Education Practice Base public-private partnership ("PPP") project, the Board considered that, by acquiring the Equity Interest, the Group would be able to diversify the its business.

 

Mr. Lyu Yaoneng, Chairman of Jujiang Construction, said, "We have negotiated and followed up certain PPP Projects with thorough explorations and constant investigations, trying to look for collaboration. This acquisition provides the Group with accumulated experience and opportunities to explore more PPP Projects in the future, which will have a positive impact on the future development of the Group. We will continue to actively implement the three major strategies of 'major customer', 'going out' and 'quality business', and the Company's rapid and quality development will be positively facilitated. " (roc/*).

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