Joint Venture Shares: Terminating Agreement On Cooperation In Developing Textile And Garment Industry In Ethiopia

In the evening announcement of Luen Fat shares, the company signed a cooperation agreement on the development of textile and garment industry in Ethiopia in 2016 with the Ethiopia government, the representative of the Ethiopia Investment Committee, and China earth group. After several rounds of due diligence investigation and site selection assessment, the company believed that the development of textile and garment industry in dredawa could have a long investment recovery period and low rate of return on investment, so the company decided to terminate the cooperation intent agreement.