Recently, China Sinoma International Engineering Co., Ltd. (Hereinafter referred to as "Sinoma International") issued an announcement on the foreign investment and related transactions of wholly-owned subsidiaries. The announcement shows that Sinoma Overseas Engineering Co., Ltd. (Hereinafter referred to as "Sinoma Overseas"), a wholly-owned subsidiary of Sinoma International Engineering Co., Ltd., intends to establish a joint venture with the related party Sinoma Science and Technology Wind Power Blade Co., Ltd. (Hereinafter referred to as "Sinoma Blade") in Brazil. The registered capital of the joint venture company is 20 million US dollars equivalent to Brazilian reals (local currency), and Sinoma Blade and the company contribute 14 million US dollars equivalent to Brazilian reals and 6 million US dollars equivalent to Brazilian reals respectively, with the shareholding ratio of 70% and 30% respectively.
It is reported that Sinoma Overseas Engineering Co., Ltd. has a registered capital of 50 million yuan and is 100% owned by Sinoma International. Its business scope mainly includes general construction contracting; engineering survey and design; construction project management; technology development and technical consultation; sales of building materials, chemical products (excluding hazardous chemicals and Class I precursor chemicals), machinery and equipment, hardware and electrical equipment, electronic products; investment management; asset management; import and export of goods. In 2020, Sinoma Overseas realized an operating income of 706.663 million yuan and a net profit of 75.1529 million yuan. As of December 31, 2020, the total assets were 783.5402 million yuan and the net assets were 286.0226 million yuan. From January to September 2021, Sinoma Overseas realized an operating income of 317.5941 million yuan and a net profit of 28.2951 million yuan. As of September 30, 2021, the total assets were 732.0239 million yuan and the net assets were 299.8376 million yuan.
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