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Sunwoda Electronic to Invest 4 Million Yuan to Set Up Joint Venture

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Sunwoda Electronic (SHE:300207) agreed to invest 4 million yuan to establish a joint venture with three other investors, according to a Shenzhen bourse filing on Thursday.

The venture, Shenzhen Xincheng Digital Services, will have a registered capital of 10 million yuan and will be developing software and services related to blockchain technology and other internet services, as well as offer services in engineering and technology, natural sciences and industrial design.

The company will own 40% of the venture.

Shenzhen Dianlian Technology, Shenzhen Li'an Technology and Shenzhen Xincheng Zhiyuan Enterprise Management Partnership (Limited Partnership) are the other joint venture partners, holding 20%, 10% and 30%, respectively.

The lithium-ion battery maker's shares fell 1% during the morning trade.

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