On the evening of November 15, Yu Diamond made an announcement stating that they had reached an agreement with Luoyang Huake Superhard Materials Co., Ltd. to form a controlling subsidiary focused on the research, production, and sale of resin diamond cutting lines. The new joint venture will have a registered capital of 50 million yuan. The proposed scope of operations includes researching, producing, and selling resin diamond cutting lines (subject to final approval by the relevant registration authorities).
Yu Diamond will contribute 45 million yuan in cash, representing 90% of the registered capital, while Luoyang Huake will contribute 5 million yuan in cash, making up 10%. This move follows the establishment of Huajing Precision Manufacturing Co., Ltd., a wholly-owned subsidiary of Yu Diamond, which specializes in the development and production of electroplated diamond cutting lines.
By forming this holding subsidiary, Yu Diamond aims to expand its product offerings and enhance its expertise in the resin diamond cutting line sector. This strategic initiative is expected to strengthen the company’s R&D capabilities and market competitiveness within this niche, further consolidating its overall competitive edge and boosting profitability.
This collaboration not only diversifies Yu Diamond's product portfolio but also positions the company for long-term growth in a highly specialized segment of the superhard materials industry. As the market demand for advanced cutting solutions continues to rise, this investment represents a significant step forward for both companies involved.
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