Dongfang Cable (603606.SH) plans to establish Zhejiang Shenyuanhai Power Transmission Innovation Research and Development Co., Ltd.

Zhitong Finance App News, Oriental Cable (603606.SH) announced that the company plans to invest in the establishment of a wholly-owned subsidiary Zhejiang Shenyuanhai Power Transmission Innovation Research & Development Co., Ltd. in Shengsi County, Zhoushan City, Zhejiang Province, with 10 million yuan of its own capital. The company holds 100% of its shares.

This investment to establish a wholly-owned subsidiary is an important step for the company to respond positively to the National Maritime Power Strategy and participate deeply in the construction of the National Maritime Comprehensive Test Site, and meets the company's medium- to long-term strategic plans and business development needs. Relying on rich local marine resources and location advantages, the company will focus on R&D, testing and demonstration applications of key deep-sea technologies and equipment to further consolidate the company's leading position in the field of marine energy equipment. This layout helps the company to deeply integrate regional industrial ecology, undertake national scientific research and testing tasks, promote the transformation of technological achievements and industrial collaboration, further enhance the company's core competitiveness, innovation and demonstration effects, and achieve the company's sustainable and high-quality development.