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Yuexiu Capital to Set Up Subsidiary for 870 Million Yuan

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Guangzhou Yuexiu Capital Holdings (SHE:000987) agreed to establish a subsidiary through its unit and related parties for 870.3 million yuan, according to a Shenzhen bourse filing on Friday.

The company's subsidiary, Guangzhou Yuexiu Capital Holdings Group, partnered with related parties Guangzhou Yuexiu Holdings and Guangzhou Yuedong New Energy Technology Investment for the establishment of the new company.

The planned subsidiary will be named Guangzhou Yuexiu New Energy Technology and it will offer wind power, energy storage technology and new energy technology services.

The Chinese financial services provider's shares rose 4% during the morning trade.

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