According to the Zhitong Finance App, Xinglu Water (02281) announced that on November 12, 2026, Xinglu Water Engineering, a wholly-owned subsidiary of the company, signed a joint venture agreement with its joint venture partner to establish a joint venture. The joint venture is mainly engaged in (including) investment, operation and maintenance of piped direct drinking water projects, production and sale of piped direct drinking water equipment and secondary water supply equipment and providing supporting services.

According to the terms of the joint venture agreement, the registered capital of the joint venture will be RMB 50 million. Xinglu Water Engineering and Shunyu Ecology invested RMB 25.5 million and RMB 24.5 million respectively in the joint venture, accounting for 51% and 49% of the joint venture's registered capital, respectively.

According to the announcement, the Group is paying close attention to development opportunities in the fractionated water supply market, and the establishment of a joint venture to develop piped direct drinking water business is in line with the Group's development strategy. By leveraging the expertise of each contracting party to achieve complementary advantages, resource integration and synergy, the Group's business sector will be enriched and new revenue growth points will be cultivated.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.