Yu Diamond made an announcement on the evening of November 15, revealing that it had reached an agreement with Luoyang Huake Superhard Materials Co., Ltd. to form a controlling subsidiary focused on the research, production, and sales of resin diamond cutting lines. This new joint venture will have a registered capital of 50 million yuan. The scope of operations includes the research, production, and sale of resin diamond cutting lines (subject to final approval from the relevant registration authorities). Yu Diamond will contribute 45 million yuan in cash, representing 90% of the total registered capital, while Luoyang Huake will invest 5 million yuan in cash, accounting for 10%.
Additionally, Yu Diamond already operates a wholly-owned subsidiary named Huajing Precision Manufacturing Co., Ltd., which specializes in the development and production of electroplated diamond cutting lines. The decision to establish this new holding subsidiary aims to expand into the resin diamond cutting line market. This move not only diversifies the company’s product offerings but also strengthens its research capabilities and market position within the resin diamond cutting line sector. By enhancing its overall competitive edge, Yu Diamond expects to improve its profitability and secure a stronger foothold in the industry.
This strategic initiative reflects the company’s commitment to innovation and growth, ensuring it remains at the forefront of technological advancements in the superhard materials field. With a solid foundation in both electroplated and resin-based products, Yu Diamond is poised to capitalize on emerging opportunities while maintaining its leadership role.
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