China Greenfresh (06183) said it has established a wholly-owned subsidiary Hebei Greenfresh Biotechnology Co. Ltd. in Hebei Province which is principally engaged in the sales of edible fungi.
Hebei Greenfresh Biotechnology and Pingquan County Waterfall Heyuan Food Co. Ltd. have jointly set up Pingquan County Lvhe Biotechnology Co., Ltd., which is held as to 60% by Hebei Greenfresh Biotechnology and 40% by Pingquan County Waterfall Heyuan Food. Pingquan Lvhe Biotechnology is principally engaged in the modern cultivation and sales of shiitake mushrooms.
The establishment of such project represents China Greenfresh's successful entry into the field of modern cultivation of shiitake mushrooms, which is in line with the company's strategy to expand its operation in the multispecie edible fungi.
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