[ET Net News Agency, 24 December 2019] Sinotruk (Hong Kong) Limited (03808) said its
subsidiary Sinotruk (Hong Kong) International Investment Limited has entered into a joint
venture agreement with Party A and Party B relating to the capital contribution to JV MAN
AUTO-Uzbekistan (the target company).
Upon closing of the capital contribution of EUR10.78 million, the target company will be
owned as to 32.89% by the subsidiary, 34.22% by Party A and 32.89% by Party B. After
closing of the capital contribution, the charter fund of the target company will be
increased from EUR22 million to EUR32.78 million.
The target company is principally engaged in the production of trucks of Party B,
including assembling of trucks and chassis for trucks, importing and selling trucks and
spare parts through authorised dealers in Uzbekistan and Central Asia and providing
after-sales services to its customers. It is located in a key country in the Belt and Road
Initiative. The capital contribution enables the group to directly participate in the
local production and development of trucks and buses business in the Belt and Road
Initiative region and promote vehicles export business to Central Asia countries. (RC)