Gelonghui, May 13 | Xia Xia Precision (001306.SZ) announced that in order to better meet the business development needs of Zhejiang Xiaxia Precision Manufacturing Co., Ltd. (hereinafter referred to as the “Company”), develop the company's overseas market, increase the company's overseas supply capacity, better meet the order needs of international customers, provide product services to existing and potential large customers, and enhance the company's core competitiveness, the company plans to establish Xia Xia Singapore Co., Ltd. (hereinafter referred to as “Xia Xia Singapore”). Xia Xia Singapore will invest in the establishment of Xiaxia Vietnam Co., Ltd. (hereinafter referred to as “Xia Xia Singapore”) in Vietnam, and will be funded by Xia Xia Xiamen Vietnam obtained relevant enterprise registration certificates and investment certificates in Vietnam, and built a new production base in Vietnam.
Based on the needs of future business development and overseas market expansion, the company plans to invest in the construction of a project with an annual output of 1 million sets of precision transmission structure products (hereinafter referred to as “this project”) in Vietnam. The plan is to invest no more than 15 million US dollars with its own capital or self-financing, including but not limited to matters related to the establishment of relevant wholly-owned subsidiaries, purchase or lease of land, purchase of fixed assets, etc. The actual investment amount is subject to the amount approved by the relevant competent authorities. The company will implement the construction of the above Vietnamese production base in stages according to specific conditions such as market demand and business progress. This investment project is the company's main business.