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03877 CSSC SHIPPING
RTNominal up1.470 +0.050 (+3.521%)
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09/09/2019 12:16

CSSC Shipping (03877) to set up JV for technology research

[ET Net News Agency, 9 September 2019] CSSC (Hong Kong) Shipping Company Limited
(03877) said its subsidiary CSSC Shanghai has entered into a JV agreement with CSSC
Research Institute, CITIC International and Shenzhen Baize.
A JV company will be established to principally engage in the research and development
of industrial intelligent technology for ships and marine equipment, as well as the
design, manufacturing or operation of intelligent ship systems.
The registered capital of the JV company will be RMB100 million. CSSC Shanghai will
contribute RMB18 million in cash towards the registered capital of the JV company and will
hold 18% of the equity interest. (RC)

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