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Zhongmin Baihui enters JV to operate retail space

Jeffrey Tan
Jeffrey Tan7/30/2021 06:17 PM GMT+08  • 1 min read
Zhongmin Baihui enters JV to operate retail space
The company says the transaction is not expected to have any material impact on its earnings and NTA for FY2021 ending Dec 31.
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Zhongmin Baihui Retail Group has partnered Mingfa (Longhai) Real Estate to operate a retail space in a mall.

This comes after the retail company’s wholly owned subsidiary Zhongmin Baihui (China) Retail Group and Mingfa (Longhai) signed an agreement on July 26 to establish a JV company.

Zhongmin Baihui (China) and Mingfa (Longhai) will have shareholdings of 30% and 70%, respectively, in the JV company, which has a registered share capital of RMB18 million ($3.8 million).

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