Power Source (600405.SH) announced that its subsidiary Anhui Power Source and its subsidiary Xiong'an Power Source plan to jointly invest in the establishment of a subsidiary: Anhui Power Source Precision Manufacturing Co., Ltd. (the name is temporary and subject to final registration by the company registration authority). The registered capital is RMB 50 million, of which Anhui Power Source will contribute RMB 45 million by pricing the fixed assets such as sheet metal structural parts workshop machinery and equipment on the evaluation date, with a shareholding ratio of 90%; Xiong'an Power Source will contribute RMB 5 million in cash, with a subscribed shareholding ratio of 10%.

This outward investment is based on the company's strategic development layout, fully leveraging the strengths of its subsidiaries, further deepening the company's overall strategic layout, helping the company to obtain more industry key resources and capabilities, improving the core competitiveness and sustainable development capabilities of the company's products, and conducive to achieving steady growth in business scale.