China Jinshi announced that its wholly-owned subsidiary, Guangzhou Jinshi, signed a one-year purchase agreement with Guangzhou Zhongling for a prepayment of purchasing equipment for RMB 94.726 million (equivalent to HK$116 million). In addition, Guangzhou Jinshi signed a letter of intent for the cooperation framework earlier, and jointly developed and expanded stone processing capabilities in Yunfu City, Guangdong Province with strategic partners, and developed a nationwide distribution network for stone products. This included paying 240 million yuan (equivalent to approximately 2.94 Hong Kong dollars in advances) to Yunfu City and Yunfu City, and paying 70 million yuan (equivalent to approximately 85.548 million Hong Kong dollars) to Yunfu City and Yunfu City. Advance payment. However, in view of recent market developments, the Board is currently reviewing and evaluating strategic cooperation prospects, risks and returns.
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