The new JV company will have a registered share capital of RMB3 million ($620,473).
It will market, operate and manage 53,633 sqm of retail space in Jinzhai Mingfa City Square in Jinzhai County, Hefei for a period of 20 years from May 1.
The transaction will be funded from Zhongmin Baihui’s internal resources and is not expected to have any material financial effect on the group for the financial year ending Dec 31.
Shares in Zhongmin Baihui closed flat at 68.5 cents on June 9.
