Platinum New Materials (300811.SZ) plans to establish a Hong Kong subsidiary in a joint venture with Junwei Electronics to engage in the business of magnetic materials, inductors and resistors

According to the Zhitong Finance App, Platco New Materials (300811.SZ) announced that Platco Holdings, a wholly-owned subsidiary of the company, and TFTHK, a wholly-owned subsidiary of Junwei Electronics, intend to establish a joint venture in Hong Kong, China. The proposed investment amount of the joint venture is HK$100 million, of which TFTHK has pledged a capital of HK$51 million, accounting for 51% of the joint venture's shareholding ratio, and Platinum Holdings has pledged a capital of HK$49 million in the joint venture, accounting for 49% of the joint venture's shareholding ratio. After the establishment of the joint venture, it is intended to develop and sell components such as magnetic materials, inductors, and resistors.