Yu Diamond plans to invest 33 million to establish a holding subsidiary

Yu Diamond ( 300064 ) announced on the afternoon of October 16th that the company signed the "Intention Cooperation Agreement" in Zhengzhou City, Henan Province on September 24, 2012 and Jiaozuo Meijing Technology Co., Ltd. (referred to as "Meijing Technology"). Cooperate with Meijing Technology to increase the production capacity and scale of synthetic diamond large single crystal project by cash contribution. The company's share of cooperation projects is not less than 51%; Meijing Technology is tangible with existing equipment, personnel and technology. And invest in intangible assets, cooperate with the company and get returns. On October 15, the company held the eleventh meeting of the second board of directors to deliberate and approve the "Proposal on Investing in the Establishment of Holding Subsidiaries". The announcement shows that the registered capital of the joint venture company is 50 million yuan, of which the company's capital contribution is 33 million yuan, which is funded by cash. The registered capital subscribed is RMB 25.5 million, accounting for 51% of the registered capital, and the remaining RMB 7.5 million is included in the capital reserve; the registered capital subscribed by Meijing Technology is RMB 24.5 million, with fixed assets and inventory. Contributions such as intangible assets account for 49% of registered capital. The announcement said that the investment in setting up a holding subsidiary to engage in the production and sales of synthetic diamond large single crystals is conducive to enriching the company's product structure, extending the company's synthetic diamond industrial chain, enhancing the company's market competitiveness and improving the company's profitability. Schedule: Yu Diamond: Announcement on Investment in Holding a Holding Subsidiary

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