EASA: Plans to establish a company in Singapore for low-voltage business industry transfer

The EASA announced that the company plans to establish a company in Singapore through its subsidiary Beijing Jingbo, with a registered capital of USD 8 million, to transfer its low-voltage business. Recently, the company has seen a significant decrease in orders for CCC certification testing services from the China Quality Certification Center and orders for welding machine testing services from its holding subsidiary Chengdu Sanfang Electric Testing Co., Ltd., which has adversely affected the sustainability and revenue of related businesses. However, directors Shi Yongbo and Han Jian oppose this proposal, arguing that the reasons and background for the company's establishment lack basis, the business expected revenue justification is insufficient, the capital usage plan is not specific, and the risk assessment and control measures are inadequate