Anhui Gourgen Traffic Construction (603815.SH) plans to establish a joint venture company in Shanghai to expand its coffee bean-related business in Ethiopia.

Anhui Gourgen Traffic Construction (603815.SH) announced that the company plans to establish a joint venture company, Shanghai Yejia Coffee Industry Development Co., Ltd., with its partner, focusing on importing and selling coffee beans from Ethiopia and deep processing business. The registered capital of the joint venture company is 100 million yuan, with Anhui Gourgen Traffic Construction subscribing 80% of the capital with 80 million yuan in cash, and Shanghai Ethiopian Enterprise Management Center (Limited Partnership) subscribing 20% of the capital with 20 million yuan in cash. It is reported that the foreign investment partner in this joint venture has channel resources advantage in the coffee export business in Ethiopia, with the management team having many years of experience in operating chain brands such as coffee, and rich experience in coffee operations and Chinese companies going global, laying a good foundation for the rapid development of the joint venture company's business.