Gelonghui May 24 丨 Shenghong Technology (300476.SZ) announced that in order to meet the diverse needs of overseas customers, adapt to international development trends, and accelerate the strategic layout of overseas manufacturing bases, the company plans to adopt the wholly-owned subsidiary VICTORY GIANT TECHNOLOGY (SINGAPORE) PTE. LTD. (“Singapore Shenghong” for short) invests in the construction of a high-precision printed circuit board project in Vietnam to produce high-multi-layer printed circuit boards and HDI. The planned investment amount is not to exceed US$260 million, including but not limited to matters related to the establishment of new companies, the purchase of land, new plants and engineering construction, and the purchase of production equipment and supporting facilities. The actual investment amount is based on the amount approved by the relevant Chinese and local authorities. The company will implement the construction of a Vietnamese production base in stages according to specific conditions such as market demand and business progress. The board of directors of the company agreed to authorize the chairman of the company or authorized personnel of the chairman to handle all matters relating to the company's current establishment of a Vietnamese company and the construction of a Vietnamese production base. The authorization period starts from the date of review and approval by the board of directors of the company and ends on the date the authorization matters are completed.