YEE HOP HLDGS(01662.HK): Establishes Joint Venture to Tap Fly Ash Recycling & Eco-friendly Building Materials Business
NewTimeSpace News: Yee Hop Holdings Limited (01662.HK) announced that its wholly-owned subsidiary Yee Hop Global subscribed for a 51% equity interest in the joint venture company at a consideration of HK$510,000, while the joint venture partner took up the remaining 49% stake with HK$490,000. The joint venture group will engage in manufacturing eco-friendly construction materials using fly ash and other industrial waste. It has entered into equipment procurement and installation agreements with a total consideration of approximately RMB71.7 million.
NewTimeSpace News: Yee Hop Holdings Limited (01662.HK) issued an announcement dated 6 July 2026. Its wholly-owned subsidiary Yee Hop Global entered into a shareholders’ agreement with the joint venture partner and the joint venture company. Yee Hop Global subscribed for a 51% shareholding in the JV at HK$510,000, and the partner subscribed for 49% at HK$490,000. The JV will be a non-wholly-owned subsidiary of the Company, with its financial results consolidated into the Group’s accounts.
The JV group will provide technical services and equipment supply for producing green building materials from fly ash and industrial waste, as well as distributing recycled building materials derived therefrom. The joint venture partner undertakes to grant the JV group a patent licence for the relevant business at nominal consideration, valid until 31 December 2036.
On the same date, a subsidiary of the JV entered into an equipment procurement and installation contract with contractors and operators at a total cost of roughly RMB71.7 million (equivalent to around HK$83.2 million). The payment will be funded by the JV subsidiary’s internal funds and bank financing arranged by the Group, and all purchased equipment will be legally owned by the JV subsidiary.
Under the fly ash recycling technical services agreement, the operator commits to collecting and processing a minimum of around 4,166 tonnes of fly ash per month at an average service fee of RMB400 per tonne, generating a steady recurring income stream for the JV group.
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