Zhejiang Zhengte announced plans to jointly establish Shenzhen Hemu Pet Technology with Shenzhen Muhe Enterprise Management Partnership, with a registered capital of 10 million yuan. Zhejiang Zhengte will contribute 6.9 million yuan for a 69 percent stake, while Muhe Partnership will contribute 3.1 million yuan for a 31 percent stake. Muhe Partnership is an employee stock ownership platform formed by company staff, with its executive partner being Chen Yonghui, chairman and general manager of Zhejiang Zhengte. The joint venture will primarily expand the pet supplies business to broaden the product line and enhance overall competitiveness.
Zhejiang Zhengte Co LtdCompany invests 6.9 million yuan in a joint venture to expand pet supplies business, aiming to broaden product line and enhance competitiveness.