C&G INDUSTRIAL HOLDINGS LIMITED
ESTABLISHMENT OF NEW WHOLLY-OWNED SUBSIDIARY IN THE PRC
The Board of Directors of C&G Industrial Holdings Limited (the “Company”) is
pleased to announce that the Company has registered a new wholly-owned
subsidiary, Boju (Shanghai) Eco-technology Company Limited (博聚(上海)生態科
技有限公司) (“Boju”), in the PRC.
Boju has a registered capital of USD1,000,000.00. The investment is funded by
the internal sources.
The principal activities of Boju include an e-commerce platform for textile
products ranging from fashion apparel to fabrics; it also engages in the trading of
knitted fabrics, and research and development of new textile and fabrics products.
The investment is not expected to have any material impact on the consolidated
net tangible assets per share and earnings per share of the Group for the
financial year ending 31 December 2009.
None of the Directors or substantial shareholders of the Company has any
interest, direct or indirect in the investment.
