Dajin Heavy Industry (002487.SZ) announced on July 25th that the company held the fourteenth meeting of the fifth board of directors on July 25, 2024, and approved the proposal to establish an overseas subsidiary, agreeing to invest in Hong Kong to set up a wholly-owned subsidiary.
Since successfully entering the overseas offshore wind power market in 2019, the company has continued to promote business structure transformation and upgrading, focusing on the implementation of the "New Two Seas" strategy, focusing on the development of overseas offshore business, and successively signing multiple export orders such as single-pile foundations and sea towers, exporting revenue amounts and proportions continue to increase. Currently, the company is the only supplier in the Asia-Pacific region that can deliver offshore products to the European market. In 2023, the company achieved export revenue of 1.715 billion yuan, a year-on-year increase of 104.63%; the contribution proportion of export revenue increased by 23 percentage points to about 40%; driving the overall gross margin and net margin levels of the company. Since the beginning of this year, the number of export offshore projects delivered by the company has further increased, and the coverage area has gradually expanded. To meet the company's future global business development needs and improve its overseas business layout, the company plans to establish a subsidiary in Hong Kong to promote the company's sustainable and healthy development.