Zhongtong Finance and Economics App News, China Saftower (08623) announced that the group has recently established an indirect subsidiary company, mainly engaged in software development, technology services, and operating non-automotive engine charging facilities.

The new subsidiary is named Fuzhou Dasong Internet of Things Technology Co., Ltd., with shareholders being the group's indirect wholly-owned subsidiary, Hainan Saftower Yichong Technology Co., Ltd., and Song Chunsen.

The announcement stated that the purpose of establishing the subsidiary company is to assist the group in rapidly and comprehensively expanding its business scope, as well as bringing new profit growth.

The Song Chunsen team has industry experience in regional management of millions of users, market resources, and a cloud platform based on big data and artificial intelligence technology. This collaboration aims to jointly create an innovation-oriented, cross-regional platform with tens of millions of users for intelligent charging piles and internet of things, while optimizing the industry market horizontally and promoting the development of new markets vertically. This will accelerate the layout of the national non-motorized vehicle charging market, providing the industry and end users with safer, more efficient, and convenient smart charging equipment and operational network.

The establishment of Fuzhou Dasong Internet of Things Technology Co., Ltd. is a strategic move for the group, in line with the goal of expanding business operations and strengthening profitability. With the professional knowledge and resources of various partners, the joint venture is ready to seize the emerging opportunities in the non-automotive charging industry. The board of directors is confident that this collaboration will drive significant growth and create value for the group and its shareholders.