Jiaotong Angli (600530.SH) has released an announcement to meet the needs of the company's health product business development and enhance its competitiveness. The company plans to invest HKD 20 million (or the equivalent in RMB) from its own funds to establish a wholly-owned subsidiary overseas, Angli International Trading Co., Ltd., in Hong Kong, China.

The company plans to establish a wholly-owned subsidiary in Hong Kong based on the actual needs of its business, which is conducive to expanding overseas markets, grasping the changes in the international market trends, promoting the development of its main business, strengthening cooperation with key overseas customers, perfecting its business layout and strategic development planning, enhancing its comprehensive strength, enhancing its core competitiveness, and in line with the company's overall strategic development planning and the interests of all shareholders.