---
title: "SPEG: Plans to invest in Indonesia to establish a wholly-owned subsidiary"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/226143772.md"
description: "Shanghai Phoenix announced that its wholly-owned subsidiary, Shanghai Phoenix Bicycle Co., Ltd., plans to invest RMB 29 million to establish a subsidiary in Hong Kong, which will then invest in Indonesia to set up a wholly-owned subsidiary, PT. Phoenix Bicycle Indonesia, with a registered capital of RMB 28 million. Indonesia Phoenix will primarily engage in the production and sales of bicycles, children's bicycles, and electric-assisted bicycles, with an annual production capacity of approximately 1.4 million units"
datetime: "2025-01-24T10:57:43.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/226143772.md)
  - [en](https://longbridge.com/en/news/226143772.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/226143772.md)
generator: "portal-rs"
---

# SPEG: Plans to invest in Indonesia to establish a wholly-owned subsidiary

Shanghai Phoenix announced that its wholly-owned subsidiary, Shanghai Phoenix Bicycle Co., Ltd., plans to invest RMB 29 million to establish a subsidiary in Hong Kong, which will then invest in Indonesia to set up a wholly-owned subsidiary, PT. Phoenix Bicycle Indonesia, with a registered capital of RMB 28 million. Indonesia Phoenix mainly engages in the production and sales of bicycles, children's bicycles, and electric-assisted bicycles, with an annual production capacity of approximately 1.4 million units

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**