Hongtai definition
Examples of Hongtai in a sentence
On 17 January 2019, Merchants Foshan, an indirect wholly-owned subsidiary of the Company, entered into the Cooperation Agreement with Foshan Hongtai, pursuant to which Merchants Foshan agreed to invest in the Project Company with Foshan Hongtai for developing the WG0035 Land through the Project Company.
The Annual Caps are determined after taking into consideration of the business volume of Honghua Company in the upcoming three years and the historical transaction amount for the transactions made with Hongtai Company under the Agreements.
It is expected that the maximum aggregate annual purchase amount, the Annual Caps, payable by Honghua Company to Hongtai company under the New Purchase Framework Agreement shall be RMB26,000,000, RMB26,000,000 and RMB26,000,000 for each of the three financial years ending 31 December 2016, 31 December 2017 and 31 December 2018 respectively.
Lessor: Minsheng Hongtai (Tianjin) Aviation Leasing Co., Ltd.(“Minsheng”).
Upon completion of the capital increase to the effect that the Project Company is owned as to 50.1% by Merchants Foshan and 49.9% by Foshan Hongtai, the Project Company becomes a subsidiary of Merchants Foshan.
Foshan Hongtai is a company established in the PRC and is principally engaged in property development in the PRC.
Honghua Company will pay to Hongtai Company at the purchase cost of the products plus a margin of about 10%.
Pursuant to the Cooperation Agreement, Merchants Foshan and Foshan Hongtai shall share the profits of the Project Company in proportion to their respective proposed shareholdings in the Project Company.
Pursuant to the New Purchase Framework Agreement, Honghua Company shall purchase low value consumables, auxiliary accessories, tools, welding materials and worker-protection items from Hongtai Company.
Hongtai is a private equity fund which is principally engaged in, among others, project investment, investment management, asset management, investment consulting and corporate management consulting.