Glonghui, May 27丨Moen Electric (002451.SZ) announced that the company held the 6th meeting of the 6th board of directors on May 24, 2024 to review and pass the “Proposal on Investment and Establishment of Overseas Subsidiaries”. According to the company's business development plan, in order to deepen the strategic layout of international development, maintain and expand the company's overseas business, and enhance the company's overall operation and management efficiency and market competitiveness, the company plans to establish two wholly-owned subsidiaries, Moen (Singapore) Ltd. (hereinafter referred to as “Moen Singapore”, tentative name) and Moen Cable (Singapore) Co., Ltd. (hereinafter referred to as “Moen Cable Singapore”, tentative name) also invests in the establishment of a wholly-owned subsidiary, Moen (Thailand) Co., Ltd. (hereinafter referred to as “Moen Thailand”, tentative name), with the above two subsidiaries as investors to carry out R&D, production and sales of wire and cable products in Thailand. At the same time, the board of directors of the company authorized the company's management to handle all matters relating to this matter, including but not limited to establishing an overseas investment structure, formulating and implementing specific investment plans, establishing overseas subsidiaries and subsidiary companies, applying for overseas investment registration, signing relevant agreements or contracts for the purchase of land and related assets, hiring agents to serve as intermediaries and handle all other matters relating to this matter.