Guangzhou Guangri Joins 100 Million Yuan Elevator Maintenance Market Fund; Shares Down 6%

MT Newswires Live

Jan 03, 2025

Guangzhou Guangri (SHA:600894) agreed to invest in a 100 million yuan partnership fund focused on businesses related to the elevator maintenance market, according to a Shanghai Stock Exchange disclosure on Friday.

The Guangzhou Guangri Industrial Investment Elevator Engineering Aftermarket Equity Investment Fund Partnership (Limited Partnership) will run for eight years.

The Chinese manufacturer of elevators, through its subsidiary Guangzhou Guangri Elevator Industry, invested 50 million yuan into the fund.

The company's shares dipped over 6% in recent trade.

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