10:55 PM EST, 01/30/2022 (MT Newswires) -- Kiddieland International (HKG:3830) is forming a joint venture that will develop educational facilities such as laboratory equipment for primary and secondary schools in China as part of its business diversification.
The toy manufacturer will invest 30 million yuan ($4.7 million) for a 75% stake in the JV. The remaining 25% will be held by investor Li Meiying, according to a Monday disclosure.
Kiddieland said the deal allows it to enter into a new line of business as its core business of toy production and distribution has been affected by the "international market downsizing" of toy orders from China due to the pandemic.
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