Shenghui Cleaning (02521.HK): Invests RMB 9,180,000 to Establish Joint Venture with Connected Party

NewTimeSpace · 2026/07/01 08:35 · By Zeyu Wu

NewTimeSpace News: Shenghui Cleaning announced on June 30 that Guangzhou Tianyou, its indirectly wholly-owned subsidiary, entered into a joint venture agreement with Baishida to set up a joint venture company with a registered capital of RMB 30.6 million.

NewTimeSpace News: On June 30, 2026, Shenghui Cleaning (02521.HK) announced that its subsidiary Guangzhou Tianyou has formed a joint venture company with Baishida. The joint venture has a registered capital of RMB 30.6 million. Guangzhou Tianyou will contribute RMB 9,180,000, holding a 30% equity stake, with the capital sourced from the Group’s internal funds.

Baishida is controlled by Mr. Wei, an Executive Director of the Company, and his spouse, thus qualifying as a connected person of the Company. The applicable percentage ratio for this transaction is less than 5%, exempting the transaction from approval by independent shareholders.

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