Gourgen Traffic Construction Scraps Plan to Set Up Joint Venture

MT Newswires

Anhui Gourgen Traffic Construction agreed to terminate plans to establish a joint venture, Shanghai Yejia Xuefei Industrial Development, according to a Shanghai bourse disclosure on Friday.

Yejia Xuefei will also be deregistered.

The Chinese infrastructure construction services provider made the decision after considering the changes in the market outlook and anticipating its failure to meet investment expectations, the disclosure said.

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Gourgen Traffic Construction's Consortium Bags 704 Million Yuan Land Development Project

MT Newswires

603815

-10.02%

A consortium with Anhui Gourgen Traffic Construction won the bid for a construction project for about 704 million yuan, according to a Shanghai Stock Exchange filing on Friday.

Under the project, the consortium will manage the residential and commercial development of two land parcels in Baohe District, Hefei City, Anhui Province, China.

The Chinese infrastructure construction services provider will undertake 50% of the construction work. The company's share in the contract amounted to 352 million yuan.

China Coal Third Construction, a consortium member, will manage the other 50% of the construction work. Another consortium member, Anhui Xiangyuan Planning and Design, will be responsible for the project design.

Gourgen Traffic Construction's shares closed over 3% higher.

Risk Warnings and Disclaimers

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Gourgen Traffic Construction's Consortium Bags 704 Million Yuan Land Development Project

MT Newswires

603815

-10.02%

A consortium with Anhui Gourgen Traffic Construction won the bid for a construction project for about 704 million yuan, according to a Shanghai Stock Exchange filing on Friday.

Under the project, the consortium will manage the residential and commercial development of two land parcels in Baohe District, Hefei City, Anhui Province, China.

The Chinese infrastructure construction services provider will undertake 50% of the construction work. The company's share in the contract amounted to 352 million yuan.

Gourgen Traffic Construction's shares closed over 3% higher.

Risk Warnings and Disclaimers

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Gourgen Traffic Construction to Establish 100 Million Yuan Joint Venture

MT Newswires

603815

-10.02%

Anhui Gourgen Traffic Construction plans to set up a joint venture with a partnership fund for 100 million yuan, according to a Shanghai Stock Exchange filing on Wednesday.

The planned venture, Shanghai Yirgacheffe Industrial Development, will offer technical services and internet services, and sell food.

The Chinese infrastructure construction services provider will own 80% of the venture and investment partner Shanghai Ethiopia Enterprise Management Center (Limited Partnership) will hold 20% after investing 80 million yuan and 20 million yuan, respectively.

The company's shares closed less than 4% lower.

Risk Warnings and Disclaimers

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Gourgen Traffic Construction Scraps Plan to Set Up Joint Venture

Gourgen Traffic Construction's Consortium Bags 704 Million Yuan Land Development Project

Gourgen Traffic Construction's Consortium Bags 704 Million Yuan Land Development Project

Gourgen Traffic Construction to Establish 100 Million Yuan Joint Venture

Risk Disclosure