GLONGHUI November 13丨Buck 1798 Group (01010.HK) announced that the Group is currently engaged in yacht procurement and production in Hainan Province, China, where labor and material costs are relatively low. However, the Group also relies on cutting-edge technology from the Netherlands to produce yachts. In order to further improve the efficiency of yacht production while keeping costs at a relatively low level, the directors are now considering the Netherlands-based Maritieme Servicehaven Noordeliike Flevoland (MSNF) mentioned in the announcementThe new port is building a shipyard. In addition to this, the directors are currently considering a plan to acquire a European shipyard in order to enhance the Group's technical capabilities and production efficiency in building yachts through the acquisition.
MSNF is a new port supported by the local government. The port will focus on international shipping services. The directors believe that building or acquiring a shipyard at MSNF will help the Group expand its yacht business beyond China and bring the Group's yacht business into a new global era. Once the proposed acquisition is completed and the construction or acquisition of a shipyard is completed, the Group will be able to expand its yacht business, thereby maximizing the profits of this business.