Xinfengming (603225.SH) issued an announcement. Due to the needs of future development plans, Xinfengming River, a wholly-owned subsidiary of the company...
Zhitong Finance App News, Xinfengming (603225.SH) announced that due to future development plans, the company's wholly-owned subsidiary Xinfengming Jiangsu Xintuo New Materials Co., Ltd. (“Jiangsu Xintuo”) invested abroad to establish Jiangsu Xinfengming Xinhong New Materials Co., Ltd. (“Jiangsu Xinhong”). Jiangsu Xintuo plans to use its own capital to invest RMB 20 million, accounting for 100% of Jiangsu Xinhong's share of investment.
The investment to establish Jiangsu Xinhong meets the needs of the company's future development plans and will provide a good platform for the company's investment and development in Xinyi, Jiangsu.