New City Construction and Development (00456) Announcement issuedcryptogamesfreetostartOn May 24, 2024, the company plans to purchase a total of 85 concrete mixing trucks from the seller (Huizhou City Jinsha Trading Co., Ltd.) at a total consideration of RMB 14.72 million, which must be purchased at the issue price of 0 per consideration share upon completion.cryptogamesfreetostart.866 HK$18.476 million consideration shares were issued and allotted.
As the company has been engaged in property development business in China, the company intends to diversify its business by providing concrete logistics and transportation and preparation services to a number of property developers in China, thereby horizontally expanding the group's business and serving as an additional source of income for the group. The purchase of 85 concrete mixing trucks will be used for the preparation and transportation of concrete.