Oriental Yuhong January 11 announcement that the company intends to invest in the establishment of wholly-owned subsidiary 'Jingmen Oriental Yuhong Building Materials Co., Ltd.' (tentative name, the final approval of the business sector registration, hereinafter referred to as 'new company') . The new company registered capital of 50 million yuan, Oriental Yuhong will be funded by its own funds, accounting for 100% of its total equity. The new company operating range for all types of waterproof materials, anti-corrosion materials, insulation materials, lake asphalt materials, mortar materials And other related construction materials complete sets of equipment technology development, manufacturing, sales, technical services; To undertake waterproofing works, anti-corrosion engineering construction.
The announcement said that the establishment of the new company will take full advantage of the local good investment environment and geographical advantages, relying on Oriental Yuhong waterproof materials in the field of production, research and development, channels and other advantages, the effective integration of existing resources, to play an independent legal advantages and further And increase the comprehensive influence of Oriental Yuhong in Central China, meanwhile, the establishment of the new company accords with the long-term strategic layout of the Company as a system service provider, laying a solid foundation for the sustainable and steady development of the Company in the future.