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Dongnan Grid Plans 3 Billion Yuan Ice Sports Complex in Shanghai Songjiang
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Dongnan Net Structure Co., Ltd. (002135.SZ) announced on September 23 that its board of directors has approved a plan to invest approximately 3 billion yuan (about $420 million) to build an ice and snow sports complex in Shanghai's Songjiang District. The project will be developed through its subsidiary, Shanghai Dongnan Haoxue Culture and Sports Development Co., Ltd. Separately, the board also approved an increase in the company's commodity futures hedging business limits, raising the margin and premium amount from no more than 30 million yuan to 100 million yuan, and the maximum contract value on any trading day from 300 million yuan to 1 billion yuan. Both resolutions are subject to shareholder approval.
Source report
September 23 — Southeast Space Frame (002135.SZ) announced today that its board of directors has approved a proposal to invest in the construction of a comprehensive ice and snow sports project in Songjiang, Shanghai.
The project will be developed through the company's subsidiary, Shanghai Southeast Haoxue Cultural and Sports Development Co., Ltd. (884258), with a total estimated investment of approximately 3 billion yuan.
In a separate resolution, the board also approved an increase in the company's commodity futures hedging business limits. The cap on margin and premium amounts will be raised from 30 million yuan to 100 million yuan, while the maximum contract value held on any trading day will increase from 300 million yuan to 1 billion yuan.
Both proposals are subject to approval by the company's shareholders.
This report is based on information provided by Daily Economic News.
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每日经济新闻Neutral / independent
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Dongnan Net Structure to invest 3 billion yuan in Shanghai Songjiang ice sports complex