Zhitong Financial APP News, Lichen Industry (001218.SZ) issued an announcement that in order to deal with market competition, promote its long-term development, and further promote the company's strategic deployment, the company will set up a wholly-owned subsidiary Shanghai Liweida supply chain Co., Ltd. (provisional name, finally subject to the name approved and approved by the relevant state departments) with a registered capital of RMB 10 million.
According to the notice, Shanghai Livida supply chain Co., Ltd. operates in the following areas: procurement, sales and import and export of chemical materials. The establishment of a wholly-owned subsidiary by the company's overseas investment meets the needs of the company's operation and strategic development, helps to give full play to the advantages of resources, expand new business, and at the same time help to enhance coordination with the company's main business and reduce the company's operating costs. improve operational efficiency and achieve efficiency, so as to further enhance the competitiveness of the company.