BBMG Group

BBMG Group and Tangshan Jidong Cement received approval from the Beijing SASAC for the valuation of assets they will contribute to a new joint venture. BBMG's assets were valued at approximately CNY 7.313 billion and Jidong's at approximately CNY 8.217 billion.

BBMG Group and Jidong Cement signed a joint venture agreement on February 7, 2018, to establish a new company, BBMG Jidong Cement (Tangshan) Co., Ltd., by contributing their respective cement assets. The registered capital is 3 billion yuan, with total contributions of 15.5308 billion yuan.

Jidong Cement announced a revised restructuring plan to form a joint venture with BBMG Group, where Jidong Cement will contribute 20 cement companies and 2 branch assets, and BBMG will contribute 10 cement companies. The joint venture will be controlled by Jidong Cement, making it the sole cement platform under BBMG.