JZNEE: Establishing an overseas subsidiary
JZNEE announced that the company plans to establish an overseas third-level subsidiary, Shibilao Holdings Limited, in Hong Kong through its secondary subsidiary, Suzhou Shibilao Precision Fasteners Co., Ltd., using its own funds, with a total investment of USD 5 million. At the same time, the company plans to establish an overseas fourth-level subsidiary, Shibilao Anti-Loosening Fasteners LLC, in Saudi Arabia through its third-level subsidiary, Shibilao Holdings Limited, using its own funds, with a total investment of 18.75 million Saudi Riyals. This investment aims to expand overseas business, enhance the company's overall competitive strength, and provide sustainable development momentum for the future
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