Shanghai Yongli Belting (300230.SZ) announced that the company plans to jointly invest with CDS Belting Pty Ltd to establish a joint venture in Australia. The total investment of the joint venture is 1.5 million Australian dollars, of which the company invests 1.125 million Australian dollars in its own currency, accounting for 75% of the total investment of the joint venture; the joint venture contributes 0.375 million Australian dollars in currency, accounting for 25% of the total investment of the joint venture. The new company mainly engages in processing, sales, and service activities related to light conveyor belts, chain plates, base belts, synchronous belts, and other related products and accessories.
According to the announcement of Yongli Belting (300230.SZ) today, the company plans to jointly invest with CDS Belting Pty Ltd to establish a joint venture in Australia. The total investment of the joint venture is 1.5 million Australian dollars, of which the company invests 1.125 million Australian dollars in its own currency, accounting for 75% of the total investment of the joint venture; the joint venture contributes 0.375 million Australian dollars in currency, accounting for 25% of the total investment of the joint venture. The new company mainly engages in processing, sales, and service activities related to light conveyor belts, chain plates, base belts, synchronous belts, and other related products and accessories.