SANQUAN FOODS plans to invest in a production base in Australia and expand into the markets of Australia, New Zealand, and Southeast Asia
SANQUAN FOODS plans to establish a production base in Australia, aiming to expand into the markets of Australia, New Zealand, and Southeast Asia. The company will set up a wholly-owned subsidiary in Hong Kong and invest in another wholly-owned subsidiary in the Cayman Islands, ultimately investing approximately AUD 280 million in Australia for the establishment and operation of overseas companies, fixed asset purchases, and infrastructure renovations
According to the announcement from Sanquan Foods (002216.SZ), in order to further improve the company's global strategic layout and rapidly promote the development of overseas business, the company plans to establish a wholly-owned subsidiary in Hong Kong based on its overall strategic planning. The Hong Kong subsidiary will invest in establishing a wholly-owned subsidiary in the Cayman Islands, which will then invest in establishing a subsidiary in Australia. The ultimate goal is to invest in the construction of a production base in Australia and to develop markets in Australia, New Zealand, and Southeast Asia.
The total amount of this external investment is approximately AUD 280 million, mainly used for the establishment and operation of overseas companies, fixed asset purchases (including factory purchases, construction of R&D technology centers, equipment procurement, construction of fully automated cold storage, and procurement of cold chain logistics vehicles, etc.), infrastructure renovation, marketing system construction, working capital, and other related matters. The actual investment amount will be subject to the approval amount from the Chinese and local authorities
