CM-ENERGY (00206) partners with Jingu to establish a joint venture and sign a shipbuilding contract.
Hua Shang Energy (00206) announced that on May 26, 2026, its wholly-owned subsidiary, Hua Shang Clean Energy (Hong Kong), entered into a shareholder agreement with King Valley. According to the agreement, the two joint venture partners agreed to establish a joint venture company, with each holding 50% of the shares, aimed at carrying out business activities (namely shipbuilding, operation, and management).
On the same day, the joint venture company (through a shipowner special purpose company) (as the buyer) entered into a shipbuilding contract with China Merchants Heavy Industry (Jiangsu) (as the seller), relating to the design, construction, launch, equipment, and completion of a LNG carrier and bunkering vessel with a capacity of 19,800 cubic meters.
CM-ENERGY (00206) announced that on May 26, 2026, the company's wholly-owned subsidiary, Huashang Green Energy (Hong Kong), entered into a shareholder agreement with Jingu for the establishment of a joint venture. Both parties agreed to hold 50% of the shares in the joint venture, with the aim of conducting business activities such as shipbuilding, operation, and management.
On the same day, the joint venture (through a shipowner special purpose company) as the buyer, entered into a shipbuilding contract with China Merchants Heavy Industry (Jiangsu) as the seller, regarding the design, construction, launch, equipment, and completion of a LNG carrier with a capacity of 19,800 cubic meters.
On June 10, 2026, with the unanimous approval of the joint venture partners, the joint venture has issued a financing notice to Huashang Green Energy (Hong Kong) and Jingu, whereby Huashang Green Energy (Hong Kong) and Jingu are each required to provide a contribution of $3.94 million as shareholder loans to the joint venture.
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