Brief: The9 Signs MoU With Government In Hohhot, China

The9

10/06/2019 09:05

June 10 (Reuters) - The9 Ltd  NCTY.O :
    * THE9 LTD - SIGNS AN MEMORANDUM OF UNDERSTANDING WITH
GOVERNMENT
IN HOHHOT, CHINA
    * FF THE9 CHINA JOINT VENTURE WILL RECEIVE RESOURCES AND
FINANCIAL
SUPPORT FROM HOHHOT GOVERNMENT
    * PARTIES TO HAVE STRATEGIC COOPERATION ON ESTABLISHMENT,
DEVELOPMENT OF JV'S ELECTRICAL VEHICLE BUSINESS IN HOHHOT
SHAERQIN INDUSTRIAL ZONE
    * TERMS OF MOU WILL CEASE TO BE EFFECTIVE IF PARTIES DO NOT
ENTER
DEFINITIVE AGREEMENT WITHIN 3 MONTHS OF MOU
    * CO, HOHHOT SHAERQIN INDUSTRIAL ZONE WILL FURTHER NEGOTIATE
ON
JOINTLY SET-UP OF NEW ENERGY INDUSTRY FUND
    * OF PLANNED NEW ENERGY INDUSTRY FUND, CO & GOVERNMENT WILL
CONTRIBUTE NO LESS THAN RMB500 MILLION AND RMB1.5 BILLION
RESPECTIVELY
    * HOHHOT SHAERQIN INDUSTRIAL ZONE ALSO COMMITTED TO PROVIDE
PROJECT FINANCING OF RMB 4 BILLION FOR NEW ENERGY PROJECTS
    * HOHHOT SHAERQIN INDUSTRIAL ZONE WILL RESERVE NO LESS THAN
5,000
MǓ OF LAND FOR JV'S PROJECT

Source text for Eikon:  ID:nPn9HXftHa 
Further company coverage:  NCTY.O 

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