Zhejiang Merchants Zhongtuo: intends to invest 51 million yuan to establish Zhongtuo Jinshenglan Company.

On the evening of May 16th, Zheshang Zhongtuo announced that in order to enhance its core competitiveness and market influence in the black industry chain, the company plans to sign a joint venture agreement with its strategic customer Hubei Jinsheng Lan and individual investor Chen Yuxin, in the Xiaoshan District of Hangzhou, Zhejiang Province, to establish Zheshang Zhongtuo Jinsheng Lan Limited Company. Zhongtuo Jinsheng Lan plans to have a registered capital of 100 million yuan, with the company contributing 51 million yuan and holding a 51% stake. This investment, combined with the strengths of the company and its partners, will focus on logistics in the construction steel industry along the Yangtze River, breaking through the development bottleneck of engineering distribution business, and extending to the upstream mineral resources sector to steadily increase the company's business scale in mineral resources trading, thereby enhancing the company's core competitiveness and market influence in the black industry chain.