It is reported that Meihua Holdings Group and China Merchants Group will jointly inject CNY 200 million into a logistics company in Xinjiang province to specialize in grain purchasing, storage, processing, trade and logistics.

Meihua Holdings will inject an additional CNY 60 million for a 30% stake in the logistics company afterwards.

Meihua Holdings formerly known as Wuzhou Minovo is based in Langfang city, Hebei province. It manufactures and distributes fermented products, amino acid, fertilizer and monosodium glutamate.

(Sourced from yicai.com)