On March 3, Ge Longhui Transmission (002472.SZ) announced that Zhejiang Huandong Robot Joint Technology Co., Ltd. (hereinafter referred to as “Huandong Technology”), a holding subsidiary of the company, plans to invest 20 million yuan of its own capital to establish a wholly-owned subsidiary Zhejiang Huandong Technology Research & Development Co., Ltd. (tentative name, final subject to industrial and commercial registration).
The announcement stated that the investment is based on the future development strategy and long-term planning needs of the holding subsidiary Huandong Technology. It is conducive to further promoting the upgrading of Huandong Technology's R&D technical capabilities, introducing multi-level R&D technical talents, laying out forward-looking fields, and improving the industrial layout, thereby better serving customers and achieving long-term stable development of the company and its holding subsidiaries.