Strong Petrochemical (00852) said it entered into a non-legally binding agreement with Sunny Wu and Jiangsu Dagang Co., Ltd., a company whose shares are listed on Shenzhen Stock Exchange (stock code: 002077), in relation to the proposed establishment of a company in the PRC with a registered capital of about Rmb3 billion.
It is intended that the JV will be principally engaged in investment in battery business in the PRC and the Group will hold a minority interest in the JV.
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