Yee Hop Holdings (01662.HK): Enters into JV and Equipment Procurement Agreement Worth HK$83.2 Million
NewTimespace.com reports, Yee Hop Holdings Limited (Stock Code: 1662) announced that on 6 July 2026 (after trading hours), its wholly-owned subsidiary, Yee Hop Global, entered into a shareholders' agreement with the JV partner and the JV company. Pursuant to the agreement, Yee Hop Global will subscribe for 5,100 shares in the JV company at a consideration of HK$510,000, while the JV partner will subscribe for 4,900 shares at a consideration of HK$490,000. The JV company will be held as to 51% by Yee Hop Global and 49% by the JV partner, and its financial statements will be consolidated into those of the Group.
On the same day, JV Subsidiary A (a wholly-owned subsidiary of the JV company) entered into an equipment procurement and installation agreement with the contractor and the operator in respect of the business, pursuant to which JV Subsidiary A and the operator appointed the contractor to procure equipment at a consideration of approximately RMB71,700,000 (equivalent to approximately HK$83,200,000). The equipment procurement is expected to be completed on or before 30 September 2026.
Under the shareholders' agreement, the JV company and its subsidiaries will carry on the business of (i) providing technical services, machinery and equipment for the production of eco-friendly building materials using fly ash and other industrial waste; and (ii) distributing recycled building materials produced through the above technical services. JV Subsidiary A and JV Subsidiary B entered into a fly ash recycling technical services agreement with the operator, under which JV Subsidiary A agreed to provide relevant technical services and machinery and equipment, and the operator agreed to pay service fees until 31 December 2036. The operator committed to collecting and processing at least approximately 4,166 tonnes of fly ash per month, with an average service fee of RMB400 per tonne.
In addition, Mr. Han, the ultimate beneficial owner of the JV partner and patent owner, entered into a patent licence agreement with JV Subsidiary B, granting an exclusive licence for the patents until 31 December 2036. As the shareholders' agreement and the equipment procurement and installation agreement were both entered into for the purpose of carrying on the business, the transactions shall be aggregated and constitute a discloseable transaction under Chapter 14 of the Listing Rules.
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