According to the announcement from West Deane New Power (603312.SH), in line with the company's overall strategic planning and to further improve its global strategic layout, accelerate the development of overseas business, and quickly respond to customer needs, the company plans to establish a wholly-owned subsidiary "West Deane New Power (HK) Holding Ltd." (hereinafter referred to as "Hong Kong Subsidiary") in Hong Kong, a wholly-owned subsidiary "West Deane New Power (HK) International Trading Ltd." (hereinafter referred to as "Hong Kong Grandchild Company") in Hong Kong, and a subsidiary "West Deane New Power (SG) Investment Pte. Ltd." (hereinafter referred to as "Singapore Grandchild Company") in Singapore. The Hong Kong Subsidiary and the Singapore Grandchild Company will invest 10% and 90% respectively to establish a grandchild company "West Deane New Power (Thailand) Industrial Co., Ltd." (hereinafter referred to as "Thailand Grandchild Company") in Thailand, ultimately investing in the construction of a production base in Thailand.

The external investment is planned to use self-owned (self-raised) funds not exceeding 200 million RMB (or equivalent foreign currency). The investment funds will mainly be used for the establishment and operation of overseas companies, land acquisition, factory construction, equipment procurement, and working capital, among other related matters. The actual investment amount will be subject to the approval amount from the Chinese and local competent authorities