Gelonghui, January 23 | Zhenlan Instrument (301303.SZ) announced that in order to consolidate business development, Shanghai Zhenlan Instrument Technology Co., Ltd. and Changchun Hengtai Safety Service Development Co., Ltd. (“Changchun Hengtai”), a wholly-owned subsidiary of Changchun Natural Gas Group Co., Ltd. (“Changtian Group”), reached a strategic cooperation. The two sides signed an “Investment Cooperation Agreement” to jointly invest 50 million yuan to establish Changchun Lantai Intelligent Technology Co., Ltd. (joint venture) (the provisional name of the joint venture) is based on the results of the industrial and commercial registration approval process, referred to as “Changchun Lantai” or “joint venture”), Zhenlan Instrument holds 60% of Changchun Lantai's shares.
The company established a joint venture with Changtian Group to reach strategic cooperation with Changtian Group, comprehensively utilize the advantages and resources of Zhenlan Instruments and Changtian Group to produce and sell gas meters, flow meters, bellows and other products, further expand product services for Changtian Group's gas business, enhance various service support capabilities, focus on the long-term and steady development of all parties, and help implement and achieve the company's strategic goals and business plans.