CNLight's Tech Unit to Set Up 10 Million Yuan Joint Venture

MT Newswires Live

Sep 20, 2024

CNLight (SHE:002076) unit Guangdong Xingguang Digital Technology will establish a 10 million yuan joint venture with a third-party individual, according to a Thursday disclosure on the Shenzhen Stock Exchange.

The venture, Guangdong Xingneng Information Development, will offer engineering management services, data processing services and other technical services.

Xingguang Digital Technology will own 55% of the venture after investing 5.5 million yuan in its capital and Zheng Han will hold 45% after subscribing 4.5 million yuan into the capital.

Zheng Han will also become a legal representative of the venture, the Chinese lamp manufacturer said.

Shares of the company jumped almost 4% at the close.

Price (RMB): Â¥1.59, Change: Â¥+0.060, Percent Change: +3.92%

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