Red Star Macalline Group Corporation Ltd Class H (HK:1528) has released an update.
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Red Star Macalline Group Corporation Ltd has disclosed details about a joint venture (JV) transaction, aimed at securing alternative financing for its proposed transaction with Cinda Group. This strategic move involves a put option and guarantee of payment of deficit arrangement, which the company believes benefits its shareholders. Additionally, the company will consolidate Tianjin Xinmei as a wholly-owned subsidiary, marking a significant step in its business expansion.
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