CQS plans to build an agricultural machinery production base in Vietnam to meet the needs of the overseas market
CQS plans to build an agricultural communication machinery production base in Vietnam through its holding subsidiary to meet overseas market demand. The project will be implemented in phases, with an initial investment of approximately USD 6.9444 million, mainly for factory renovation, equipment procurement, and working capital
According to the Zhitong Finance APP, CQS (600615.SH) announced that the company plans to establish a new subsidiary in Vietnam through its holding subsidiary Chongqing Xinyuan Agricultural Machinery Co., Ltd. (referred to as "Xinyuan Agricultural Machinery") to build an agricultural communication machinery production base in Vietnam, in order to meet the needs of scale development in overseas markets. The company will implement the construction of the Vietnam production base in phases based on market demand and business development, with a total investment of approximately USD 6.9444 million in the first phase, mainly for factory renovation, equipment procurement, and working capital
