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五洲新春(603667.SH)：拟对五洲墨西哥增资3000万元 扩大在北美的出口业务

Wuzhou New Year (603667.SH): Plans to increase capital of Wuzhou Mexico by 30 million yuan to expand export business in North America

Gelonghui Finance ·  Jan 9 03:59

Gelonghui, January 9 | Wuzhou Xinchun (603667.SH) announced that the company and Zhejiang Xinlong Industrial Co., Ltd. (hereinafter referred to as “Xinlong Industrial”), a wholly-owned subsidiary of the company, invested 20 million yuan (equivalent to US$2,9046.13 million) in San Luis Potosi, Mexico in 2019 to establish Wuzhou Mexico Auto Parts Co., Ltd. (formerly known as “Wuzhou Xinlong Auto Parts Co., Ltd.”, hereinafter referred to as “Wuzhou Mexico”). The business scope is: design, manufacture and sale of auto parts and other related products. In order to address potential trade barriers and expand the company's export business in North America, the company plans to increase capital of 30 million yuan (equivalent to US$4.2013.28 million) in Mexico in five continents, of which: RMB 26.78 million (equivalent to US$37503.85 million) in equipment and US$459.43 million in currency, totaling US$4.2013.28 million; achieve an annual output of 5 million bearing parts and 3,500 tons of heat treatment processing capacity.

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