Shenzhen-based Alto Electronics Co., Ltd., through its wholly-owned subsidiary, Shenzhen Qianbaihui Lighting Engineering Co., Ltd. (referred to as "Qianbaihui"), joined forces with other members of a consortium to participate in the urban lighting infrastructure project in Wuhai City and the related lighting tourism Public-Private Partnership (PPP) project. We are pleased to announce that Qianbaihui has successfully secured the bid for this significant initiative.
In line with the legal requirements governing PPP project investments and the terms of the framework agreement, Qianbaihui has collaborated with two key partners—Shanghai Yaming Lighting Co., Ltd. ("Shanghai Yaming") and Inner Mongolia Yellow River Pearl Culture Tourism Industry Investment Co., Ltd. ("Mingzhu Limited")—to establish a joint venture PPP project company named Inner Mongolia Zhongji Smart City Construction Co., Ltd. (referred to as "Project Company"). This new entity aims to ensure the seamless execution of the project while leveraging the strengths of all parties involved.
Recently, the Project Company completed its official registration process and received its business license. This marks an important milestone in our collective efforts to bring innovative solutions to urban lighting and tourism infrastructure in Wuhai City.
According to the official announcement, the registered capital of the Project Company totals RMB 10 million. Mingzhu Limited contributed RMB 2 million, representing 20% of the company's equity. Qianbaihui and Shanghai Yaming each invested RMB 4 million, holding 40% equity each in the Project Company.
Mingzhu Limited focuses on tourism industry investments and the research and development of tourism-related products. Shanghai Yaming specializes in the technology development of lighting products, manufacturing energy-efficient lighting solutions, and offering comprehensive lighting project design, installation, and maintenance services. Their expertise extends to intelligent integration systems, contract energy management, and corporate management support.
Qianbaihui, on the other hand, boasts extensive experience in urban and road lighting engineering, lighting design, landscaping projects, and contract energy management. Their capabilities align well with the goals of the PPP project, ensuring high-quality implementation and sustainable outcomes.
The Project Company's business scope encompasses intelligent management, infrastructure development, real estate, cultural tourism, and smart city initiatives. By pooling resources and expertise, we aim to deliver cutting-edge solutions that enhance urban living standards and foster economic growth in the region.
This collaboration represents a strategic move under the framework of relevant PPP regulations. Establishing the joint venture ensures the effective execution of the project, which, if successful, will significantly contribute to the company’s bottom line and long-term growth prospects. We remain committed to achieving excellence in this endeavor and look forward to delivering tangible benefits to all stakeholders involved.
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