Zhitong Finance App News, Shunyu Co., Ltd. (301519.SZ) issued an announcement. According to business and development strategy needs, the company's wholly-owned subsidiary Anhui Shunyu Ecological Technology Co., Ltd. (hereinafter referred to as “Shunyu Ecology”) plans to jointly fund the establishment of Luzhou Xinglu Water Engineering Co., Ltd. (hereinafter referred to as “Xinglu Water Engineering”) (tentative name, ultimately based on the approved commercial and commercial name, hereinafter referred to as “Xinglu Shunyu”). The registered capital of Xinglu Shunyu is RMB 50 million, of which Shunyu Ecology has pledged RMB 24.5 million and holds 49% of the shares in the joint venture.

This foreign investment implements the company's medium- to long-term development strategy, seizes industry development opportunities, further improves business layout and market network, deepens industrial chain collaboration, and broadens business growth channels; it is conducive to continuously enhancing the company's core competitiveness and resilience to risks, improving long-term business quality, and promoting the company's sustainable and high-quality development on the premise of safeguarding the interests of all shareholders.

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