On the morning of May 29, CR Cement entered a joint venture agreement cum a cooperation framework agreement, with CITIC Holdings, CITIC Dicastal, and Foxconn Industrial Internet in Beijing.

The Deputy General Manager of CITIC Group, Xu Zuo, the Chairman of the Board of CR Cement, Zhou Longshan, and the Chairman of Foxconn Industrial Internet, Li Junqi attended the signing ceremony. The Deputy Chairman and CEO of CITIC Holdings, Zhao Lei, CEO of CR Cement, Ji Youhong, the General Manager of CITIC Dicastal, Wu Hanqi, the Chief Secretary and CFO of Foxconn Industrial Internet, Guo Junhong, and the Chief Digital Officer of CITIC Holdings, Guan Zengcheng, respectively signed the joint venture cooperation agreement.

According to the agreement, the counterparties jointly invested to establish the joint venture company, committed to creating the intelligent manufacturing solution and digital platform for the industry of automobile parts, cement and other construction materials, contributed to the industrial transformation and upgrade to achieve the high-quality development. On the aspect of project cooperation, the joint venture company planned to assist CITIC Dicastal and China Resources Cement (Fengkai) Limited to build "lighthouse factory", set the benchmarking example for the industrial transformation and upgrade, and commit to deepening the application service ability of vertical scenario.

For more details, please refer to the Chinese version.