Gold Card intends to invest 5.5 million to establish a joint venture company to enter the water meter field

[China Instrument Network Instrumentation Enterprise] On April 13, Gold Card issued an announcement stating that the company and YZATECAsiaPTEltd (Translation: Yataike Asia Co., Ltd.) plan to sign the "Zhejiang Jinka Yataike Intelligent Instrument Co., Ltd. Joint Venture Contract". It is planned to jointly invest in the establishment of Zhejiang Jinka Yataike Intelligent Instrument Co., Ltd. (The final name is subject to the registration approval of the industrial and commercial department, the following "Kinkatyak").

Kincay Tyco expects the registered capital to be RMB 10 million. Among them, Gold Card's smart contribution amounted to 5.5 million yuan, the investment ratio was 55%, Yatai Branch's investment amount was 4.5 million yuan, and the investment ratio was 45%.

It is understood that Yatai Branch is a special purpose company set up by Singapore Yatai Branch for a joint venture company in Singapore. France Yataike is a high-performance, cost-effective large-scale industrial application sensor company, has developed and has the right to use a new ultrasonic table technology used to design large-caliber and household water meter products.

Gold Card Intelligence stated that the company is committed to becoming a service provider of smart solutions for utilities, and currently has occupied a leading position in the field of gas industry. After entering the water industry, it will help the company to quickly and better lay out the utility sector, and at the same time it can drive the company's expansion in systems software, big data applications, and Internet innovation services. In addition, the demand for domestic smart water meters has rapidly increased, but the penetration rate remains low, and there is ample room for future development. The entry of the company into the water meter field will help the company to diversify its risk and increase profit growth.

(Source: Gold Card Intelligence, China Securities Network, Yatai Branch)