The JV with Beijing Capital (HK) aims to meet the market demand for urban and rural sewage treatment. Yardway Group Limited ("Yardway") announced on Monday that it has entered into a letter of intent with Beijing Capital (Hong Kong) Limited ("Beijing Capital (HK)") in relation to propose a joint venture company ("JV"), Shou Chuang Environmental Protection Construction Company Limited ("Shou Chuang Environmental Protection") in PRC. The JV with Beijing Capital (HK) is expected to be engaged in sales and provision of technology promotion and consultation services relating to magnetic isolation wate treatment equipment and highly-magnetic soil water treatment equipment. Upon finalisation, Yardway and Beijing Capital (HK) will each contribute 50% in cash respectively, and each would hold 50% interest in the shares of the joint venture.