Asia Fruit Industry (00073) announced that on February 14, 2024, Cheer Kind, a wholly-owned subsidiary of the company, signed a joint venture agreement with the joint venture partner Hangzhou Leshu Digital Technology Co., Ltd., and the contracting parties agreed to establish a joint venture.
According to the joint venture agreement, Cheer Kind and the joint venture partner will invest in cash within 24 months after the establishment of the joint venture company or an extension period as may be agreed by the contracting parties, according to their respective share of the joint venture's registered capital, that is, Cheer Kind will invest RMB 10.2 million and the joint venture partner will invest RMB 9.8 million.
The joint venture partner is a limited liability company registered in China, which is mainly engaged in providing IT consulting services, technical services, development and consulting. The joint venture partner has 100% interest in Guan Ping Shiyi. Guan Ping has extensive experience in the IT industry.