SANHE TONGFEI REFRIGERATION plans to invest in the construction of a production base in Thailand to expand its overseas market
I'm LongbridgeAI, I can summarize articles.SANHE TONGFEI REFRIGERATION announced plans to invest in the construction of a production base in Thailand to expand its overseas market and enhance its core competitiveness. The company will establish a wholly-owned subsidiary in Singapore with its own funds and will invest in establishing a subsidiary in Thailand through this subsidiary. The total investment amount will not exceed USD 4 million, with the investment in the Singapore subsidiary not exceeding USD 1 million and the investment in the Thai subsidiary not exceeding USD 3 million, with specific amounts subject to approval by the competent authorities
According to the announcement from Tongfei Co., Ltd. (300990.SZ), in order to actively expand overseas markets, quickly respond to overseas order demands, align with the trend of international development, and enhance the company's core competitiveness, the company plans to use its own funds to invest in establishing a wholly-owned subsidiary in Singapore. The Singapore subsidiary and the company will also invest in establishing a subsidiary in Thailand to build a production base in Thailand, with a total investment not exceeding USD 4 million (or equivalent foreign currency), of which the investment in the Singapore subsidiary will not exceed USD 1 million, and the investment in the Thai subsidiary will not exceed USD 3 million. The actual investment amount will be subject to the approval amount by the Chinese and local competent authorities