Xingfu Electronics (688545.SH) intends to set up a joint venture named Hubei Xingfa Investment Co., Ltd.

According to the Zhitoong Finance APP, Xingfu Electronics (688545.SH) announced that it plans to jointly invest with Hubei Xingfa and Yichang Xingfa to establish a joint venture company, Hubei Xingfa Investment Co., Ltd. The registered capital of Xingfa Investment is 150 million yuan, of which Hubei Xingfa intends to invest 76.5 million yuan, accounting for 51%; Yichang Xingfa intends to invest 36.75 million yuan, accounting for 24.5%; and the company plans to invest 36.75 million yuan using its own funds, also accounting for 24.5%. The purpose of this external investment is to build a professional industrial investment platform, integrate various industrial resources, project channels, and capital advantages, and conduct equity investment and industrial investment around the upstream and downstream of the industrial chain.