China Glass Holdings

China Glass and Hony Group Management have formed a joint venture to establish the Belt and Road Glass Fund, which will invest in glass factories in Belt and Road Initiative countries. Hony Group plans to invest about US$300 million in the fund. The fund has already confirmed the acquisition of a 69.71% stake in Orda Glass, which owns a project to build a float glass line in Kazakhstan.

China Glass's subsidiary Zhongbo International and Hony Group Management agreed to form a joint venture in the Cayman Islands to invest in glass production projects along the Belt and Road, with initial investment of $1.8 million.

China Glass' non-wholly owned subsidiaries Zhongbo Technology and Weihai Zhongbo awarded contracts to Shenzhen KC Technology Engineering for design, procurement and installation of flue gas treatment systems for glass furnaces. Total contract value is approximately RMB 2.28 million.

凯盛科技, a wholly-owned subsidiary of China National Building Material Group, completed the acquisition of approximately 156 million shares of China Glass Holdings from Pilkington Group Limited on December 21, 2016, becoming the largest shareholder with a 23.01% stake.