June 20 – Guangxi Wuzhou Communications (600368) plans to spend 40 million yuan to form a small loan firm called Nanning Taihai Small Loan Limited, reports China Securities Journal, citing a company filing. The move marks a departure from Wuzhou Communications’ primary revenue source; the ten-year-old company focuses on operating major traffic routes including the Pingwang, Nanwu and Jinyi expressways.

The new entity will have registered capital of 200 million yuan, and Wuzhou Communications will have a 20-percent interest in it. Guangxi Communication Investment Group will contribute 144 million yuan for a 72-percent stake. Wuzhou Communication will also manage a residential property renovation project in Guangxi.

The renovation project, which will take 810 days to complete, will earn profits of four million yuan with an expected annual return of 11 percent.

Shares of Guangxi Wuzhou Communications (600368) traded at 6.62 yuan per share as of 14:05 this afternoon.