Beite Technology (603009.SH) plans to establish overseas subsidiaries and subsidiary companies and build a production base in Thailand

Zhitong Finance App News, Beite Technology (603009.SH) announced that according to the company's overall strategic plan, in order to better meet the needs of the company's emerging business development and achieve the extension and expansion of the company's existing industrial chain, the company plans to establish a wholly-owned subsidiary Beite Singapore Investment in Singapore, wholly-owned subsidiary Beit Singapore Technology, and Beit Singapore Technology and Beit Singapore Technology will invest 1% and 99% respectively to establish Beite Technology (Thailand) in Thailand, and eventually invest in the construction of the Thai production base.

The project is being built in multiple phases. The total investment amount is expected to be no more than 50 million US dollars (the actual investment amount is based on the amount approved by the Chinese and local authorities). The investment funds are mainly used for matters related to the establishment and operation of overseas companies, land purchase, phase I plant construction, procurement of some equipment, and ground-breaking capital.