Zhitong Finance App News, Tengda Technology (001379.SZ) announced that the company plans to jointly invest in the establishment of Tengda Jinyuan (Anhui) Fasteners Co., Ltd. (“Joint Venture”) with natural person Cha Yongxin and the related corporation Tengzhou Tengxing Fasteners Co., Ltd. (“Joint Venture”). The registered capital of the joint venture company and each party's investment ratio: 15 million yuan, of which the company has pledged 7.65 million yuan, accounting for 51%. Investment 2.85 million yuan, accounting for 19%.

According to reports, the company, as the actual controller of the joint venture, enhances the market competitiveness and market share of the company's screw products and enhances the company's profitability by introducing well-known partners in the field of screws and combining its accumulated advantages in terms of resources and customers in the stainless steel fastener industry.