HKG:2250

China Wantian, B.Duck Semk Units Set Up Cultural Tourism Venture

China Wantian (HKG:1854), through its indirect wholly owned subsidiary, formed a joint venture with a unit of B.Duck Semk (HKG:2250) to develop integrated cultural and commercial tourism projects in China, a Monday Hong Kong bourse filing said.Shares of Wantian fell almost 5% in recent trade.Under the agreement, the joint venture will be owned 55% by China Wantian's Shenzhen Wantian Industrial Innovation unit and 45% by the B.Duck Semk subsidiary.The venture will focus on investment, development, and operation of IP-themed cultural tourism projects in China, and will have an initial registered capital of 500,000 yuan.