China Information Technology (08178) issued an announcement. In January 2024, the Group and Kilimanjaro...
Zhitong Finance App News, China Information Technology (08178) announced that in January 2024, the Group signed an agreement (joint venture agreement) with Kilimanjaro Energy Group, Marvion Inc. and two parties. Each contracting party agreed to establish a joint venture (joint venture) to promote sustainable positive changes in the environmental, social and governance (ESG) field. The joint venture plans to tokenize blockchain in the region and source carbon credits issued in the UAE, and establish, manage and operate a licensed decentralized carbon credit exchange (joint venture) in Abu Dhabi.
The company is committed to making appropriate business and investment decisions at the right time according to the company's business plan and market conditions to create greater value for the company and its shareholders. The Board believes that following the company's proposal to issue bonds using distributed ledger technology and the digital ownership token (DoTS) standard and tokenizing corporate bonds up to HK$180 million, it is recommended that joint ventures allow the Group to further innovate tokenization and blockchain, and invest in renewable energy, sustainable infrastructure and social impact initiatives. The investment will facilitate the transition to a greener future and strengthen the company's main business. The proposed joint venture is a meaningful investment that is in the overall interests of the company and its shareholders, and that the joint venture agreement is based on fair criteria and general commercial terms.