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Xinzhizhi Group: Plans to invest $40 million to establish an overseas subsidiary and build a production base
Xinzhi Group Announcement: The company’s wholly-owned subsidiary, Xinzhi Electric Motor (Chongqing) Co., Ltd., plans to establish a wholly-owned subsidiary in Singapore, Xinzhi Overseas Management Co., Ltd., as a pathway company, and will also set up Xinzhi Electric Motor (Thailand) Co., Ltd. in Thailand in partnership with its wholly-owned subsidiary, Zhejiang Xinge Refrigeration Equipment Technology Co., Ltd. The total investment amount is USD 40 million, funded by the company’s own (self-raised) capital. This investment aims to enhance the company’s global strategic layout, promote overseas business development, and quickly respond to customer needs.