Shenzhen Datong Industrial Co., Ltd. (CAPSTONE, Stock: 000038) published the announcement of setting up a joint venture company with Hanma Investment Group Co., Ltd. (HMI Group) on May 21st,2019. The joint venture focuses on blockchain traceability application in the whole industrial hemp chain from planting to marketing.
The joint venture company registered capitals 100 million RMB.CAPSTONE or the subsidiary designated by the company will use its own capital to contribute 60 million RMB holding 60%. HMI Group or its designated subsidiary contributed 40 million RMB holding 40%.
Shenzhen Datong Industrial Co., Ltd. (CAPSTONE Stock:000038) listed on the Shenzhen stock exchange on Aug. 8th, 1948. CAPSTONE has a wealth of technical accumulation and experience on the development and application of blockchain technology. CAPSTONE &Beijing University of Posts and Telecommunications co-founded Blockchain technology application innovation and information security joint laboratory which developed Datong Chain achieving great effect.A number of invention patents for blockchain technology have been reported to the state Patent Office.
HMI Group is a legal investment company in China focusing on the whole industrial chain of industrial hemp and the direction of biopharmaceutical.For years, HMI Group has made positive contribution to the vigorous development of industrial use and medical use of hemp in China and made great achievements in setting industry standards and norms.
HMI Group & CAPSTONE co-founded the joint venture company gathering the advantages of both sides. The two sides will jointly accelerate the construction blockchain traceability system in the field of industrial hemp and improve the industry chain. They will promote the global development of the industrial hemp. The joint venture company will be organized in different directions around the specific project of industrial hemp extractions and the hemp fiber adhering to the operating principles of independence and marketization.
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