VST Holdings (00856) said the company and Bozhou Shichuang Investment Limited will increase their investments in joint venture company Bozhou Botong from Rmb18.15 million to Rmb58.95 million and Rmb17.6 million to Rmb36.8 million.
Total investments of the joint venture will be increased from Rmb55 million to Rmb115 million. Together with the investments already made, the total investments of VST, Bodatong Technology (Shenzhen) and Shichuang will become in aggregate Rmb58.95 million, Rmb19.25 million and Rmb36.8 million respectively, which represent 51.26%, 16.74% and 32% equity interest in the joint venture respectively.
In view of the stable business environment and good prospects of the business of research and development, production and sale of smartphones and computer peripheral products in the PRC, VST believes that more resources should be allocated to fund the joint venture.
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