Asian Citrus Holdings (HK:0073) has released an update.
Asian Citrus Holdings announced the formation of a joint venture with Hubei Qi Ai Technology Group Limited, establishing a business with a registered capital of RMB6,000,000, owned 51% by Asian Citrus’s subsidiary Jiu Yuan Wan Jiang and 49% by the JV Partner. The venture will engage in manufacturing, production, sales, distribution, and technology services, and its financials will be consolidated into the parent company’s financial statements. This transaction is considered discloseable, as it meets the reporting and announcement requirements under Chapter 14 of the Listing Rules.
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