Shanghai Yongli Belting announced that the company plans to invest in Thailand to establish a wholly-owned subsidiary, with a planned investment amount not exceeding 10 million RMB, for the production, processing, and sales of light conveyor belts and related products. This is aimed at expanding overseas markets, enhancing market competitiveness, and improving the response speed to overseas customer orders. The investment will be implemented in stages, with funds coming from the company's own funds, not involving related party transactions, and not constituting a significant asset restructuring. The establishment of the Thai subsidiary still needs to complete relevant domestic and foreign approval procedures. After the establishment of this subsidiary, it will be included in the company's consolidated financial statements, and is expected to have a positive impact on the company's future performance.