On December 12, Gelonghui (301303.SZ) announced that in order to consolidate business development, Shanghai Zhenlan Instrument Technology Co., Ltd. and Shandong Hetong Information Technology Co., Ltd. (“Hetong Information”) reached a strategic cooperation. The two sides signed an “Investment Agreement on the Joint Establishment of a Joint Venture” to jointly invest 50 million yuan to establish Shandong Henuo Intelligent Technology Co., Ltd. (the provisional name of the joint venture, subject to the final approval results of the industrial registration registration). Zhenlan Instruments holds 49% of the shares in the joint venture.

The purpose of the company's foreign investment to establish a joint venture is to reach strategic cooperation with Hetong Information, make comprehensive use of the advantages and resources of all parties, produce and sell gas meters, flow meters and other products, further enhance product service and various service support capabilities for Hetong's information gas business, focus on the long-term and steady development of all parties, and help implement and achieve the company's strategic goals and business plans.